Selection of Insurance Company for Implementation of OMCs Group Health Insurance Scheme for Regular and Retired Employees and their Family Members

Amount

PART A

Implementation of OMC’s Group Health Insurance Scheme for Regular and Retired Employees and their Family Members as per Scope of Work Total Number of Primary Members: 3500 Maximum Lives Covered: 3500*6 = 21000

Premium Towards Corporate Buffer of INR 25 Lakh

Premium towards Corporate Buffer for additional INR 25 Lakh above INR 25 Lakh

Premium towards Corporate Buffer for additional INR 25 Lakh above INR 50 Lakh

Premium towards Corporate Buffer for additional INR 25 Lakh above INR 75 Lakh

Premium towards Corporate Buffer for every additional INR 10 Lakh amount beyond INR 1 Crore

PART B Discount for Low Claim Ratio for Year 2 on the premium paid in Year 1

Incurred Claims Ratio under the Group Health Insurance Policy >= 80% and < 90%

Incurred Claims Ratio under the Group Health Insurance Policy >= 70% and < 80%

Incurred Claims Ratio under the Group Health Insurance Policy >= 60% and < 70%

Incurred Claims Ratio under the Group Health Insurance Policy >= 50% and < 60%

Incurred Claims Ratio under the Group Health Insurance Policy >= 40% and < 50%

Incurred Claims Ratio under the Group Health Insurance Policy >= 30% and < 40%

Incurred Claims Ratio under the Group Health Insurance Policy < 30%

Discount for Low Claim Ratio for Year 3 on the premium paid in Year 2

Incurred Claims Ratio under the Group Health Insurance Policy >= 80% and < 90%

Incurred Claims Ratio under the Group Health Insurance Policy >= 70% and < 80%

Incurred Claims Ratio under the Group Health Insurance Policy >= 60% and < 70%

Incurred Claims Ratio under the Group Health Insurance Policy >= 50% and < 60%

Incurred Claims Ratio under the Group Health Insurance Policy >= 40% and < 50%

Incurred Claims Ratio under the Group Health Insurance Policy >= 30% and < 40%

Incurred Claims Ratio under the Group Health Insurance Policy < 30%

Note: For evaluation purpose, Grand Total of Part A shall be considered for establishing the Preferred Bidder (L1)

Sbi General Insurance Company Limited

ICICI Lombard General Insurance Company Limited

The New India Assurance Company Limited