Request for proposals for Consultancy Services for the Development and Implementation of Climate-Resilient Parametric Insurance in Tanzania. The deadline for submission of the application(s) is Friday, 07th March 2025 before 1500 hours. (no physical and late submission will be accepted). Key Objectives The primary objectives of the assignment are: Conduct comprehensive market studies to refine product design and targeting mechanisms. Develop an index-based or parametric insurance scheme tailored to smallholder farmers needs. Pilot the insurance scheme alongside CRDB Banks ARA lending initiatives. Build stakeholder capacity to scale and sustain the insurance product. Support the regulatory authority in improving frameworks for parametric insurance. Promote knowledge transfer, stakeholder engagement, and market development for crop insurance solutions. Scope of Work and Deliverables 3.1 Market Research and Feasibility Studies Conduct studies to assess demand for index insurance products. Identify target regions and crops vulnerable to climate risks. Evaluate current market gaps and recommend solutions. Assess existing insurance providers and propose partnerships. 3.2 Insurance Product Design Develop a parametric insurance product based on local climatic conditions. Define triggers, payout structures, and a digressive premium subsidy model. Incorporate a 100% premium subsidy in Year 1, reducing by 15% annually over five years. 3.3 Pilot Implementation Launch a five-year pilot integrated with CRDB Banks ARA initiatives. Oversee enrolment, claims processing, and payouts. Collect and analyse data to monitor performance. 3.4 Capacity Building and Stakeholder Engagement Train financial institutions, insurers, aggregators, and farmers on product implementation. Develop educational materials to promote understanding and adoption. 3.5 Monitoring, Evaluation, and Reporting Establish KPIs to measure pilot success. Submit regular progress reports to CRDB and GCF. Present a comprehensive final report with scaling recommendations. 3.6 Regulatory and Policy Development Facilitate policy dialogues to improve the regulatory framework for parametric insurance. Produce knowledge products to guide market monitoring and compliance. Share best practices in managing parametric insurance initiatives. Tender Link : https://crdbbank.co.tz/en/about-us/tender
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The Managing Director CRDB Headquarters, Plot No.25 & 26 Ally Hassan Mwinyi Road & Plot No.21 Barrack Obama Road P.O. Box 268, 11101 Dar es Salaam, Tanzania Tel: +255 (0) 22 211 7441 – 7 Fax: +255 (0) 22 211 6714 Phone Numbers: 0222197700; 0800008000; 0714197700; 0755197700
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