Request for Expression of Interest
Lusaka, Zambia Salary: Closes: June 21, 2021
REQUEST FOR EXPRESSION OF INTEREST (EOI) FOR REVIEWING AND CONSOLIDATING THE DRAFT MICROINSURANCE REGULATIONS OF ZAMBIA
About the TAG
The Microinsurance Technical Advisory Group (TAG Association) of Zambia is a multi-stakeholder membership-based association that plays a sector coordination and advocacy role for inclusive insurance development in Zambia. The TAG Association supports knowledge sharing of emerging insights and models that increase private sector players engagement in the design and delivery of appropriate microinsurance products in Zambia.
About FSD Zambia
Zambian Financial Sector Deepening Limited (FSD Zambia) is a Zambian organization working closely with key players throughout the Economy to ensure that all Zambians are financially healthy, notably the most excluded and underserved. To expand financial inclusion, FSD Zambia collaborates with public and private sector institutions to make markets work better. FSD Zambia enhances trust between clients and suppliers of financial services by helping to bring people together, cultivating understanding, stimulate innovation, and lower costs.
The Pensions and Insurance Authority (PIA) is the regulatory and supervisory authority for the Pensions and Insurance industries in Zambia. The Authority became a body corporate following the amendment of the Pension Scheme Regulation Act, No. 28 of 1996 by Act No. 27 of 2005. Prior to the enactment of the 2005 Amendment Act, the Authority existed and operated as the Office of the Registrar of Pensions and Insurance under the Ministry of Finance and National Planning with the mandate to administer the Pension Scheme Regulation Act, No. 28 of 1996 and the Insurance Act, No. 27 of 1997 respectively.
Recently, Parliament approved the Insurance Act No. 38 of 2021. The TAG, FSD Zambia and PIA have a critical role to ensure that the microinsurance sector is well regulated.
2.0 DESCRIPTION OF THE ASSIGNMENT
With the passing of the Insurance Act No. 38 of 2021 in the last session of parliament, it remains paramount to review the existing Microinsurance Regulations. The regulations shall apply to all microinsurers, insurers, microinsurance intermediaries, and other persons that shall be authorized to undertake microinsurance business or other services with regard to the undertaking of microinsurance.
Thus, the overall purpose of the assignment is to review and consolidate the microinsurance regulations that were initially drafted in 2012/2013.
The consultant will be expected to undertake the following tasks:
Review the current draft MI Regulations
Through a consultative process, identify key areas of focus for the regulations
Consolidate the final draft of the regulations
3.0 REQUIRED QUALIFICATION AND EXPERIENCE
TAG, FSD Zambia and PIA would like to hire consulting firms or individuals that can provide the following:
Detailed Company profile including CV’s of three (3) Key staff demonstrating their technical capability to undertake the assignment. The lead consultant must have a minimum of Master’s Degree in relevant fields with minimum experience of not less than ten (10) years in the relevant fields.
Provide proof of having conducted assignments of a similar nature
Any other information that you believe should be taken into account in the pre-qualification process.
Your EOI, should be sent by email to the Microinsurance Technical Advisory Group Zambia at firstname.lastname@example.org by Midnight Lusaka Time (GMT +2) on 21st June 2021 Any questions and/or clarification relating to the content of this EOI during proposal preparation should be addressed to email@example.com by 15th June, 2021 by 10:00 hours Lusaka time (GMT+2).