| Ministry/Division |
: |
Ministry of Finance |
| Agency |
: |
Finance Division |
| Procuring Entity Name |
: |
Project Director (Joint Secretary), Bangladesh Insurance Sector Development Project, Financial Institutions Division, M/O Finance, Dhaka |
| Procuring Entity Code |
: |
|
| Procuring Entity District |
: |
Dhaka |
| Expression of Interest for Selection of |
: |
Individual Consultant (International) (Lump-Sump) |
| Title Of Service |
: |
Life Insurance Actuary (Individual Consultant - International)
(Contract Package No S10-3-1) |
| EOI Ref. No. |
: |
53.03.0000.090.42.001.19-133 |
| Date |
: |
03/04/2019 |
KEY INFORMATION
|
| Procurement Sub-Method |
: |
Selection of Individual Consultants (SIC) |
FUNDING INFORMATION
|
| Budget and Source of Funds |
: |
Development Budget Grant/Credit |
| Development Partners |
: |
|
PARTICULAR INFORMATION
|
| Project/Programme Name |
: |
|
| EOI Closing Date and Time |
: |
28/04/2019 5:00 pm
|
| Publication Date |
: |
07/04/2019
|
INFORMATION FOR APPLICANT
|
| Brief Description of Assignment |
: |
Scope of Task /Service:
The services, among others, include the following:
- Launch JBC Actuarial Valuation report for 2015/2016
- Prepare an assessment report on consumer behavior and targeting the following question: “Why consumers do not interested to buy life insurance in Bangladesh?” that includes pricing, affordability and value for money.
- Design a strategy for acquiring and retaining customer
- Develop a guidance for new and tailored life insurance products including savings products
- Develop a strategy for more diversified portfolio not only JBC but also entire life insurance sector in Bangladesh
- Improve JBC’s product knowledge, design and sales process
- Review and upgrade claims management
- Close JBC’s own knowledge gap particularly in marketing in order to reach those who currently do not buy or do not consider buying JBC life insurance products
- Improve communication with existing staff and educate technical personnel and distribution network including bancassurance
- Liaising with IDRA to keep updated on the government regulations
- Strengthen management skills and educate technical staff on assessing their risk mitigation needs
- Provide guidance on life underwriting, claim management and reinsurance processes
- Submit reports on completed work on agreed schedule and frequency
|
| Experience, Resources and Delivery Capacity Required |
: |
Qualification and Experience:
- Master’s in Statistics, Mathematics, Finance, Accounting, Management, Marketing , Business Administration and any other relevant subject
- Training on Actuarial science/ diploma in related area is must
- 10 years of work experience as a life actuary in the insurance sector with concentration on life insurance practices and new life insurance products
- Proven experience in conducting market assessments and writing consumer reports on all aspects of life insurance
- Experience in designing life insurance products, claims management and distribution channels
- Strong management and communication skills
- Technical qualifications and expertise in life underwriting and reinsurance processes as well as risk mitigation techniques
- Previous experience in working in developing and emerging countries as well as with international development institutions is a plus
|
| Other Details (if applicable) |
: |
The consultant will be selected using the Selection of Individual Consultant method in accordance with the World Bank’s Guidelines: Selection and Employment of Consultants under IBRD Loans and IDA Credits & Grants by World Bank Borrowers, January 2011 (Revised July 2014).
Expressions of Interest shall be submitted by 3.00 PM on April 28, 2019 to the address below ((in person, or by mail or by e-mail). The authority reserves the right to accept or reject any or all EOI without assigning any reason whatsoever.
|
| Association with foreign firms is |
: |
Not Encouraged |
| Eoi Detail Information |
|---|
| Ref No |
Phasing Of Services |
Location |
Start Date |
Completion Date |
| N/A |
N/A |
N/A |
N/A |
N/A |
|
PROCURING ENTITY DETAILS
|
| Name of Official Inviting EOI |
: |
Md. Nayeb Ali Mondal |
| Designation of Official Inviting EOI |
: |
Project Director (Joint Secretary) |
| Address of Official Inviting EOI |
: |
Bangladesh Insurance Sector Development Project, SBC Tower (8th Floor), 37/A, Dilkusha C/A, Dhaka-1000 |
| Contact details of Official Inviting EOI |
: |
Phone : 02-9514963, Fax : , Email : |
| The procuring entity reserves the right to accept or reject all tenders |
