RFQ: Microinsurance Actuary/Consultant

Type: 
RFP
Location of Job: 
Remote
Posted: 
06 Nov 2019
Closing: 
22 Nov 2019
About the organization: 

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 more than 40 years, the organization has worked with financial institutions to show them the benefit of investing in women as clients, and as leaders. Women's World Banking equips 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 49 institutions in 32 countries to create access to finance on a greater scale than ever before.

About the Job: 

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.

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.

Tasks and Responsibilities:

  • 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.

Qualifications:

  • Certified Actuary with at least eight 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).
How to Apply: 

Apply Online with a cover letter, with hourly or project rates with assumptions, resume/CV and references (minimum three).