ISSUE DATE: November 5, 2019
SUBMISSION DATE: November 22, 2019

Summary
Women’s World Banking is seeking microinsurance actuarial consultant services required for microinsurance programs across the globe.

About Women’s World Banking
Women’s World Banking is the global non-profit devoted to giving more low-income women access to the financial tools and resources essential to their security and prosperity. For 40 years we have worked with financial institutions to show them the benefit of investing in women as clients, and as leaders. We equip these institutions to meet women’s needs through authoritative market research, leadership training, sustainable financial products, and consumer education. Headquartered in New York, Women’s World Banking works with 64 institutions in 32 countries with a reach of 60 million women to create access to finance on a greater scale than ever before.

About the Project
Women’s World Banking is seeking a Certified Actuary to provide consultancy on the actuarial product design and analysis of its microinsurance programs offered by its partner financial institutions across multiple countries. Microinsurance products include life, health and savings linked insurance at present and may include other categories (agricultural, livestock, property, business, accident etc.) in future.

Objectives & Responsibilities
The consultant is expected to be a thought partner with Women’s World Banking in developing sustainable microinsurance solutions and is expected to provide inputs on the following (including but not limited to) broad range of services. Detailed scope of work and deliverables will be defined separately for each project on need basis.

  • Inputs for research (secondary and primary) to collect relevant information on the profile of target segments (country profile, institutional diagnostics, underlying risks of the target segments, demand supply gap in insurance etc.)
  • Product design, actuarial assumptions and pricing for new product(s) development across different kinds of insurance products
  • RFPs for insurer selection including negotiations with the insurance companies
  • Setting up the delivery model (operations, IT, marketing, training, monitoring and evaluation framework, technical capacity building of the service providers etc.)
  • Financial profitability projections, portfolio analysis (claims patterns, loss ratio, IBNR, fraud etc.) and regular monitoring through KPIs dashboards
  • Flag risks, if any, in the existing pricing model; also provide high level recommendations on areas of improvement;

Duration of Consultancy

  • 12 months that can be extended to 30 months or lead to a working contract

Location of Work

  • Africa preferred, but can be based out of anywhere, however international travel might be required depending on the scope of the work

Preferred Qualifications

  • Certified Actuary with at least 8 years of experience in the insurance industry across various products (life, health and savings linked insurance is a must; agricultural and other non-life is a plus)
  • Track record of successful projects in microinsurance; experience in low income women segment is a plus
  • Country experience in emerging markets, including good familiarity of regulatory environment, prevalent microinsurance schemes, innovations in digital insurance models etc.
  • Willingness, flexibility and ability to work virtually with remote teams in different time zones
  • Ability and willingness to travel internationally
  • Ability to work well in teams and meet deadlines in- and out- of-field
  • Fluency in English is must. Proficiency in Spanish, French and/or Arabic is a plus
  • Professional appearance, passionate about her/his work and has high energy levels
  • Understands cultural nuances and can work effectively in multicultural environments
  • Ability to translate complex insurance actuarial lexicon into simple language and adapt communication for broad range of stakeholders
  • Ability to think out-of-box and work effectively with limited data
  • Proficient in MS Office (Excel, PowerPoint, Word)

To Apply
Please submit your application no later than November 22, 2019 at midnight EST.

Your application should include the below elements:

  1. Cover letter, with hourly or project rates with assumptions
  2. Resume/CV
  3. References (minimum 3)

Applicants may submit their question(s) in writing until November 20, 2019 to tn@womensworldbanking.org.  Please include in the e-mail subject line “Questions: Microinsurance Actuary”.

Apply Now!

Applicants may submit their question(s) in writing until September 18, 2019 to tn@womensworldbanking.org.  Please include in the e-mail subject line “RFQ: Consumer Research across Multiple Markets ”

This RFQ does not guarantee or commit Women’s World Banking to proceeding with the above described work. Due to overwhelming response, not all candidates will be contacted.

Women’s World Banking is an equal employment opportunity 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.