Why It’s Important to Regularly Tender Your Insurance Arrangements
13/03/2026 Written by: AP Communication
In a landscape where risks evolve quickly and insurers frequently adjust pricing models, regularly tendering your insurance arrangements isn’t just good practice; it can be a strategic advantage.
1. Market Conditions Change — And So Should Your Premiums
Insurance pricing is influenced by global events, claims trends, regulatory shifts, and even the performance of financial markets. By tendering regularly, you ensure your premiums reflect current market conditions.
- Favourable pricing opportunities
- Access to new insurers entering the market
- Potential protection against loyalty penalties
2. Coverage Needs Evolve Over Time
Organisations grow, diversify, restructure, and adopt new technologies. Risks that didn’t exist 3 years ago may now be critical. Tendering enables a fresh look at your risk profile and ensures your policies match your exposures today.
- Updated risk assessments
- Identification of coverage gaps and emerging risks
- Opportunities to consolidate or streamline policies
3. Improved Transparency and Accountability
A formal tender process encourages brokers and insurers to demonstrate value, in an environment where providers evidence their recommendations.
- Clear breakdowns of fees and commissions
- Service-level commitments
- Alignment with governance requirements
4. Innovation In Insurance Products
The insurance industry is evolving rapidly, with new products emerging around cyber risk, supply chain resilience, environmental liability, and more.
- Access to modern, sector specific policy wordings
- Emerging risk solutions
- Enhanced digital claims and reporting tools
5. Strengthened Position
The tender process can provide reassurance, and even if you stay with your existing provider, the tender process itself often results in better terms.
- Leverage for premium reductions
- Potentially improved deductibles and limits
- More favourable policy conditions
6. Demonstrating Good Governance
For many organisations — especially those with boards, investors, or regulatory oversight — regularly tendering insurance is part of demonstrating responsible financial stewardship.
- Evidence of due diligence
- Compliance with procurement policies
- Enhanced audit trail
How Often Should You Tender?
Most organisations benefit from a full tender every 3-5 years, with lighter market testing undertaken as appropriate, depending on your specific circumstances. The right frequency depends on your size, risk profile, and industry volatility.
Final Thoughts
Regular tendering ensures you’re not only getting the best price, but also the right protection, the right service, and the right strategic partner.
At AssuredPartners, a Gallagher Company, our team have been dealing with insurance for the charity, care, and education sectors for over 40 years. With our long-standing insurer relationships and sector specialisms, our team are well versed in advising on this topic, so please do feel free to reach out to us for a confidential chat.
Your Key Contacts:
Independent Schools
Jock Brindley
Director
jock.brindley@assuredpartners.co.uk
+44 (0)7968 906006
Special Educational Needs Schools and Colleges
Rachel Barker
Head of Special Educational Needs Schools and Colleges
rachel.barker@assuredpartners.co.uk
+44 (0)7539 047994
Care Homes and Providers
Julian Sumner
Account Executive
julian.sumner@assuredpartners.co.uk
+44 (0)7535 134192
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