RFP: Consulting Firm for Women’s Market Strategy (Singapore, Vietnam, and Philippines)
Roles and Responsibilities
ABOUT WWB Asset Management (“WAM”)
WAM is a wholly-owned subsidiary of Women’s World Banking, Inc., headquartered in New York City. It manages the Women’s World Banking impact investment program, including a co-managed USD 50M private equity fund, WWB Capital Partners, LP, and a solely-managed USD 103M private equity fund, WWB Capital Partners II (“WWBCP II” or “the Fund”). The latter fund is a Mauritius-based blended finance limited partnership, with a dedicated, grant-funded, side-car technical assistance program. WWBCP II makes direct minority equity investments in high-performing, women-focused inclusive finance institutions worldwide and provides technical assistance to improve client and staff gender diversity, in accordance with the impact investment program established by Women’s World Banking.
WAM is working on a technical assistance (TA) project with an insur-tech headquartered in Singapore. The TA program consists of a Gender Performance Study which examines the following dynamics in its market and workplace:
- External facing:
- How can the company reach more women with its insurance products and services that meet their needs and preferences?
- How can the company better leverage its intermediary clients to achieve greater outreach to women?
- How can the company better leverage its agents to achieve greater outreach to women?
- How can the company better collect data on women reached?
- Internal Facing:
- How can the company create a workplace environment that attracts, retains, promotes and pays women employees and leaders at the same rate as men?
- How can the company better unlock the potential of all its employees, but particularly women?
This engagement is to lead the External Facing aspects of the study, and to work in collaboration with the Internal Facing aspects lead where there is overlap in content and stakeholders. The study itself involves in-depth qualitative and quantitative market analysis and competitive landscape research. Project management will be supported by WAM. The main activities and components that we expect from this consulting partnership are listed below.
- Understand the partner’s market and operating environment.
- Identify key topic areas and look at all corresponding data inputs to see the full story from within the organization and within the broader market context.
- Identify opportunities to improve adoption and usage of the partner’s services by Women customers.
- Identify opportunities to develop and implement new products.
- Understand key strategic priorities of the company management, as well the concerns and challenges for implementing those, especially with regard to reaching more Women end-beneficiaries.
- Understand first-hand experiences of Women end-beneficiaries through individual interviews and focus groups with existing customers.
- Understand the experiences of intermediaries and how they interact with the company and the services the company provides.
- Understand the institution, its strengths and how to build on them relative to serving Women end-beneficiaries.
- Gather and review secondary research on:
- Women’s financial inclusion and economic participation, especially as how that relates to insurance use in Vietnam and the Philippines.
- Current product and service offerings available to Women.
- Conduct a total of 40 – 50 individual stakeholder interviews and 5 – 7 focus groups with potential customers, influencers, competitors. Interviews and focus groups will be divided between Vietnam and the Philippines.
- Partner with the Internal Facing assessment lead to conduct approximately 12 senior management interviews in Singapore and country offices and with approximately 30 interviews customer-facing staff divided between Singapore and Vietnam.
- Identify trends and opportunities to reach women - understand their need for products and services, as well as barriers and behaviors driving purchasing decisions.
- Identify key customer segments and behavior patterns by gender, using data analytics based on data provided by the company.
- Analyze demographic and individual-level purchase and usage data to identify key customer segments and behavior patterns by gender.
- Analyze transaction data for gender trend identification.
- Identify areas for additional data collection and data collection methods.
Strategic recommendations and development of Gender Action Plan
- Create a set of recommendations on how the company can improve current product and service offering as well as delivery mechanisms to reach more women end-beneficiaries, and how the company can increase its capacity to collect gender-disaggregated data. The recommendation should include priority actions, key performance indicators and accountability mechanisms.
- The recommendations should be:
- Aligned with organizational business priorities and culture
- Locally relevant
- Integrative, building on work that is underway
- Informed by diverse perspectives including level, gender identity, role, and tenure
- Outcome-driven and financially sustainable
- Actively supported by the leadership team
- Built on strengths and focused on closing gaps
- Coordinate all logistics related to the interviews (securing space, refreshments, recruitment of participants, any necessary local permissions, and provision of participant compensation/incentives). Some of these activities are listed below in more detail.
- Venues: Identify and secure research venues for sessions. Venues should be neutral, quiet locations that offer privacy, are easily accessible by participants, and acceptable for cultural norms for women; Two-way mirrors are not required; and audio recording of sessions may be required.
- Refreshments: Arrange for light refreshments (snack and drink)
- Incentives: Arrange for financial compensation (travel reimbursement) for all participants.
- Successfully recruit participants for group sessions and/or individual interviews.
- Arrange for a convenient time and location with the participant to participate in the research and follow up with this person to ensure availability.
- Arrange for a private place where participants can discuss sensitive topics without fear of being overheard by family, co-workers, or workplace supervisors.
- Number of participants and method of participant selection will be determined at time of qualitative research and may be informed by quantitative surveys or other inputs.
Facilitation, transcription and coding
- Conduct focus group sessions and interviews with women and men, using a semi-structured or structured discussion guide. WAM will provide sample guides for interviews that should be customized.
- Pilot questions on the interview guide and share results from the pilot with WAM.
- Audio record each interview and share English transcripts with WAM. Transcripts should ideally be shared within 48 hours of the completion of each research day to ensure that the content is aligned with the expectations of the WAM team.
- Provide all raw notes from the interviews, including any audio or video recordings.
- Participate in regular discussions with the WAM team to discuss emerging themes and reflect on the research approach.
- Identify and hire one or two interpreters for simultaneous translation to participate in all research sessions, as needed.
- Analyze session transcripts through inductive themes analysis.
- Develop PowerPoint deck detailing key themes and findings, including breakdown by any relevant segments and geographies. Provide in-depth analytic content from the analysis.
- Experience with insur-tech projects or in Southeast Asia, preferably Singapore, Vietnam, and the Philippines.
- Experience conducting qualitative and large-scale quantitative research related to access and usage of insurance, with a special focus on women customers.
- Experience managing remote qualitative research activities, including remote recruitment, conducting virtual individual in-depth interviews/survey and focus group discussions with low-income women via phone, video chat, or other medium.
- Deep understanding of issues around women’s financial inclusion as well as broader issues that women specifically face.
- Experience conducting qualitative research in the form of interviews and focus groups with low-income women.
- Proactive project management skills with strong attention to detail.
- Experience working in tight timelines and rigorous schedule of data collection.
- Flexibility and ability to adapt to changes in project timelines and needs.
- Experience working in a multilateral and cross-time-zone team to meet. deliverables.
- Commitment to delivering excellent quality results that can have a meaningful impact for women.
- Fluency in English required.
- Availability to attend regular calls with WAM staff. Meeting hours need to be flexible sometime between 8 am – 6 pm EST.
How to Apply
- Cover letter
- Description of remote research methods the firm has conducted or has the capacity to conduct.
- Three references
- A document that shows previous experiences of the firm in conducting relevant projects.
- Filling out the fee breakdown template (please report all costs in USD and submit the form in Excel sheet format using this Do not save the template as pdf, spreadsheet is required)
- Filling out the research activity breakdown template showing recent projects (please fill out and submit the form in Excel sheet format using this Do not save the template as pdf, spreadsheet is required)
- Resume or CV of the main people who will be involved in the project.
*** Applications should be submitted in English ***
If you have any questions:
- Please send your question(s) in English no later than November 8, 2023 to firstname.lastname@example.org
- Please include in the e-mail subject line “RFQ: Consulting Firm for Singapore, Vietnam, and Philippines.”
This RFP/RFQ does not guarantee or commit Women’s World Banking to proceeding with the above described work. Due to the overwhelming responses not all candidates will be contacted.
Women’s World Banking is an equal opportunity employer for all regardless of race, color, citizenship, religion, sex, sexual orientation, gender identity or expression, age, disability, veteran or reservist status or any other category protected by federal, state or local law.
Women’s World Banking will be unable to contract with any individual who is US citizen or resident without an LLC or LP or similar structure.
About Women's World Banking
We believe in being a force for the greater good, devoted to accelerating and growing the financial inclusion of women. With rapidly changing markets, influenced by technology and social behavioral expectations, we are embarking on a new chapter to transform the way we design and implement solutions.
For over 40 years, Women’s World Banking has partnered with financial institutions, showing them the benefit of investing in women as customers. We equip these institutions with in-depth research and data driven insights to develop financial products and educational programs. While our clients are financial service providers, our mission is to engage consumers – women who are marginalized by financial systems.
Women’s World Banking and WWB Asset Management is an equal employment opportunity for all regardless of race, color, citizenship, religion, national origin, sex, sexual orientation, gender identity or expression, age, disability, veteran or reservist status or any other category protected by federal, state or local law.