Background

Mandatory Documents Required (Upload as one single document): 

Interested individual consultants must submit the following documents/information to demonstrate their qualifications.

• Cover letter which includes a brief description of why the individual considers him/herself as the most suitable for the assignment

• CV indicating all experience from similar projects, as well as the contact details (email and telephone number) of the bidder and at least three (3) professional references.

• Letter of Confirmation of Interest and Availability and Financial proposal using the template provided in Annex II.

Incomplete, joint proposals and proposals sent to the wrong mailing address will not be accepted. Individuals applying for this consultancy should apply and will be reviewed based on their own individual capacity. The successful individual may sign an Individual Contract with UNDP or request his/her employer to sign a Reimbursable Loan Agreement (RLA) on their behalf by indicating this in the Offerors letter to Confirming Interest and Availability using Annex II.

Complete proposals should be submitted uploaded to UN JobShop (note UN JobShop supports single document upload hence ensure that technical and financial proposal is submitted as one single document)  by 05th September 2019 (11.59pm Fiji Time). For any clarification regarding this assignment please write to ronald.kumar@undp.org.

Annexes

• Annex I - Individual IC General Terms and Conditions

• Annex II – Offeror’s Letter to UNDP Confirming Interest and Availability for the Individual IC, including Financial Proposal Template

Background

PFIP is a Pacific-wide programme that has helped 2.14 million low-income Pacific Islanders gain access to financial services and financial education. It achieves these results by funding innovation with financial services and delivery channels, supporting policy and regulatory initiatives, and empowering consumers.

PFIP operates from the UNDP Pacific Office in Fiji and has offices in Papua New Guinea, Samoa and the Solomon Islands. It is jointly administered by the UN Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) and receives funding from the Australian Government, the European Union and the New Zealand Government.

The Kiribati Insurance Corporation (KIC) was established in 1981 and is a government owned entity, providing a range of motor, fire, accident, marine and life insurances. The KIC is now seeking information to assist it in getting a better understanding of the potential market for microinsurance and what types of microinsurance may be the most suitable for the Kiribati market.

The Pacific Financial Inclusion Programme (PFIP) is assisting the KIC and is seeking the services of a consultant with the necessary level of experience and expertise who can assist with this project

Duties and Responsibilities

Scope of Work

The scope of the assignment and the deliverables from the consultant are set out below:

1. Perform a preliminary assessment of the KIC in terms of its product range, structure, operations, governance arrangements, distribution channels and financial situation;

2. Categorise the KICs customer profiles and segments;

3. Document the regulatory and supervisory regime that governs insurance provision in Kiribati;

4. Assess the capacity and the capability of the KIC to design, provide and administer microinsurance;

5. Run focus groups and collect feedback on the potential demand for microinsurance;

6. Propose the sort of microinsurance that the KIC can look to develop and market test, prior to supply;

7. Identify potential entities that can act as aggregators in the insurance value chain, and that could interface with insured persons, and with the KIC; and

8. Estimate the potential market size for microinsurance, considering country demographics, income levels, economic sectors, cultural and societal norms, the existence of alternative risk coping mechanisms, and distribution infrastructure etc.

Expected Outputs and Deliverables

The expected deliverables from this consultancy assignment are shown below.

Institutional Arrangement

The successful bidder would report to PFIP’s Deputy Programme Manager for the duration of the term of the contract.

The successful bidder will provide their own work equipment, computers, computer programmes, printing, telephone and internet connectivity for this activity. When the consultant is in Kiribati, general work space will be provided at the KIC office.

Reporting has been referenced above.

Duration of the Work

The assignment is planned for a total of 25 working days in total, covering both in-country and home-based work. It is expected that the consultancy will commence by mid-September and will get completed by mid-November with the submission of final report.

Duty Station

• Kiribati and home-based for report writing;

Competencies

Competency

• Strong interpersonal and communication skills;

• Strong analytical, reporting and writing abilities skills;

• Openness to change and ability to receive/integrate feedback;

• Ability to plan, organize, implement and report on work;

• Ability to work under pressure and tight deadlines;

• Comprehensiveness knowledge of technical insurance subjects, insurance organisations and insurance products;

• Proficiency in the use of office IT applications and internet in conducting research;

• Outstanding communication, project management and organizational skills;

• Excellent presentation and facilitation skills.

• Demonstrates integrity and ethical standards;

• Positive, constructive attitude to work; and

• Displays cultural, gender, religion, race, nationality and age sensitivity and adaptability.

Required Skills and Experience

Educational Qualifications:

• A degree in business, finance, insurance, economics, actuarial science, business administration or a related discipline is desirable; Master’s qualification desired

• Research or marketing certification from an accredited institute is desirable;

• Insurance certification from an accredited insurance institute, at Associateship level or higher.

Experience

• Minimum of 5 years of experience with designing and introducing microinsurance in emerging economies;

• Prior experience of working with a large service provider like the KIC to work on micro-insurance products;

• Demonstrated experience of working in cross-cutting and multicultural teams in a leadership capacity; and

• Experience of working in the South Pacific region is desirable

Language requirements

• Fluency of English language is required

Price Proposal and Schedule of Payments

The total amount quoted shall be all-inclusive and include all costs components required to perform the deliverables identified in the TOR, including professional fee, travel costs, living allowance (if any work is to be done outside the IC´s duty station) and any other applicable cost to be incurred by the IC in completing the assignment. The contract price will be fixed output-based price regardless of extension of the herein specified duration.

Payments will be done upon completion of the deliverables/outputs and as per below percentages:

In general, UNDP shall not accept travel costs exceeding those of an economy class ticket. Should the IC wish to travel on a higher class he/she should do so using their own resources

In the event of unforeseeable travel not anticipated in this TOR, payment of travel costs including tickets, lodging and terminal expenses should be agreed upon, between the respective business unit and the Individual Consultant, prior to travel and will be reimbursed.

Evaluation Method and Criteria

Individual consultants will be evaluated based on Cumulative analysis.

The award of the contract shall be made to the individual consultant whose offer has been evaluated and determined as

a) responsive/compliant/acceptable; and

b) having received the highest score out of set of weighted technical criteria (70%). and financial criteria (30%).

Financial score shall be computed as a ratio of the proposal being evaluated and the lowest priced proposal received by UNDP for the assignment.

Technical Criteria for Evaluation (Maximum 70 points)

Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation.