IIB-Request for Expression of Interest for Development and Implementation of Regulatory Information

Insurance Information Bureau of India (IIB) issued a Request for Expression of Interest (EoI) document having reference number IIB/IRDA/Tech/PD/2024-25/001, titled for Development and Implementation of Regulatory Information Management System (RIMS) using Low Code Platform for Insurance Regulatory and Development Authority of India (IRDAI).

The key highlights of the EoI are as under:

• The Schedule of Events & Bid details are as under:

In case of any query, interested bidders are requested to send the email to: Mr. Krishna Mohan Rani procurement@iib.gov.in containing below mentioned information, so that in case of any clarification, the same may be issued:

• A “Bidder” refers to a vendor, including a solution provider, consultant, or implementation and maintenance partner, who submits a proposal in response to this EOI.
• The EOI aims to explore the functionality, benefits, and suitability of low-code platforms for software development. IIB seeks proposals that outline the scope, operational aspects, infrastructure requirements, licensing models, and project costs.
• IIB invites proposals from eligible entities for the complete scope of work and estimated cost of the project related to building, launching, and maintaining a Low Code Platform. No contractual obligation will arise from the EOI process unless a formal contract is signed by authorized officers of IIB and the successful bidder. The document can be downloaded from www.irdai.gov.in or https://iib.gov.in/.
• Eligibility criteria for the Bidder:
• The Bidder shall be a company registered in India under the Companies Act 1956/2013, a partnership firm, or an LLP under the LLP Act 2008, and shall have been in existence for at least 3 years.
• The net worth of the Bidder should not be negative as of 31.03.2024 and should not have eroded by more than 30% in the last three years, ending on 31.03.2024.
• The Bidder shall be either the Original Equipment Manufacturer (OEM) of the devices/software solutions or an authorized partner/SI of the OEM.
• Bidders shall not be blacklisted by any Government Authority or Public Sector Undertaking at the time of the bid.
• The Scope of Work for the low-code platform seeks participants to address key activities including defining application features, providing implementation details, architecture, and deployment timelines, outlining licensing models and costs, and presenting a technology roadmap for the low-code platform.
• The low-code platform should enable fast application development with minimal effort, be user-friendly for non-developers, and support drag-and-drop features, secure coding practices, and AI-based coding. It should also integrate with security tools, generate project documentation, and support encryption protocols.
• The testing tool should be easy to use with an intuitive interface, requiring minimal coding knowledge, and support drag-and-drop functionality for test case creation. The tool should offer efficient test creation, editing, and maintenance, seamless integration with development tools, and support for cross-browser and cross-platform testing. It should allow for reusable test components, data-driven testing, and provide visual test execution results. Collaboration features, scalability, support for continuous testing, and integration with CI/CD pipelines are essential. Additionally, it should offer comprehensive training, documentation, and technical support.
• The deliverables for the participants include detailed findings, observations, and recommendations for the proposed low-code platform solutions. Key deliverables include identifying initiatives based on business impact, providing use cases for IIB, suggesting KPIs to measure progress, and ensuring integration with existing applications. Participants should outline deployment models, provide hardware and software requirements, and offer a case study of the platform’s use in government or large MNCs. Additionally, they should detail project costs, timelines, training needs, and unique selling propositions, and provide documentation for platform processes and best practices. Participants are also expected to present these points to IIB.
• The general terms and conditions outline that the document is not a legal contract and does not create any legal obligations for IIB. All costs related to the preparation and submission of the EOI are to be borne by the participants. Participation does not guarantee any association with IIB, and following the finalization of the scope and cost, an RFP may be issued. Multiple responses from the same respondent will not be considered. The selected participant shall provide authorized signatories and signature identification. IIB will communicate only with the prime respondent, and the document shall be submitted with a signed covering letter and supporting documents. The eligibility criteria are indicative and will be refined after the EOI analysis for the RFP.
• The EOI response shall be properly documented with page numbers and sent to procurement@iib.gov.in by the specified date and time. All submissions will become the property of IIB, and bidders grant IIB the right to reproduce, disclose, or use any part of their submission for evaluation, sharing with other bidders, and as a basis for the EOI process, regardless of any copyright or intellectual property rights.
• In case of any dispute or legal action arising from this EOI, the parties will be subject to the jurisdiction of courts in Hyderabad, Telangana, India, and Indian law will apply for dispute resolution. Bidders shall submit their bids to procurement@iib.gov.in. IIB may extend the submission deadline at its discretion by releasing a corrigendum to the tender document.

A copy of the EOI is attached for your ready reference.

Source category: IRDAI

Attachments

• EOI for Regulatory Information management System (RIMS) for IRDAI