June 9, 2009, Providenciales- After a comprehensive public procurement process, the National Health Insurance Plan (NHIP) has selected Bahamas-based ColinaImperial Insurance Ltd. as Preferred Bidder to assist in the administration of its health insurance operations. ColinaImperial has a cumulative 140 years of experience in The Bahamas’ insurance industry. It is the largest health insurer in The Bahamas and brings considerable expertise in the management of health insurance operations.

Once the contract is finalized, ColinaImperial will help to launch the operations of the first NHIP in the region. Most importantly, the company will be responsible for recruiting and training Turks and Caicos Islanders to enable full handover of NHIP operations within five years. ColinaImperial will bring in experienced managers who will hire Turks and Caicos Islanders and train them in the operations of efficient, cost effective, and state-of-the- art health insurance functions.

ColinaImperial was selected as preferred bidder after a transparent public bid process in which finalists presented their qualifications to a wide group of stakeholders. The presentations were televised to solicit maximum public input.

The Request for Proposal (RFP) for a partner to help with operations, skills development and information technology support for the NHIP was advertised in June 2008 in local newspapers and regional and international publications. Six companies responded to the bid request. A Technical Evaluation Panel was appointed by Cabinet to review the bids submitted.

The Technical Evaluation Panel conducted an in-depth review, narrowing the bids to a short-list of three, based on key criteria such as organizational strength, financial stability, insurance capability, information technology, costs, and value for money.

During the second stage of the selection process, the Technical Evaluation Panel conducted site surveys of the short-listed bidders. Following stakeholder presentations, the Technical Evaluation Panel presented its recommendations to the Steering Committee of the NHIP. Finally, once the selection received its approval from Cabinet, leading accountancy firm KPMG conducted due diligence - exhaustive background searches on the beneficiaries, directors and principals of ColinaImperial.

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