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Access to Finance Rwanda (“AFR”) is looking to build a panel of consultants or experts on whom it can call on for short term consultancy assignments or for draw-down (i.e. retained consultant) arrangements to market actors who will be supported in developing customer centric DNA in designing and delivering inclusive insurance products. The experts should have experience in the application of Human Centered Design (HCD) approaches or customer centric models in designing and delivering inclusive insurance or microinsurance products.
This call for Expression of Interest is aimed at pre-qualifying consultants so as to facilitate procurement for assignments that are anticipated in the near future once we have selected innovation partners. Contracting arrangements for those assignments will be done at the appropriate time.
Access to Finance Rwanda (AFR) is a Rwandan company established in 2010 by the DFID and the Ministry of Finance and Economic Planning. AFR is funded by DFID, USAID, Sweden and The MasterCard Foundation. AFR is guided by the making markets work (M4P) for the poor approach recognizing that efforts to increase financial inclusion have to be market led and profitable for sustainability. AFR supports the Government of Rwanda’s development objectives by aligning all its interventions to the national policy frameworks including the Financial Sector Development Programme (FSDP) II and the Economic Development and Poverty Reduction Strategy (EDPRS).
Acting as a catalyst, AFR seeks to support an efficient and vibrant financial sector that offers a wider range of financial services through diverse channels to significantly have more financially capable low-income people and micro, small and medium enterprises in Rwanda. AFR facilitates linkages and coordination among consumers, Financial Services Providers (FSPs), government, and other key market actors to support the development of a financial market system that works better for poor urban and rural communities. AFR provides catalytic support to the FSPs and other key stakeholders by addressing constraints that hinder increases in access and usage of financial services in Rwanda.
AFR has been supporting the development of an inclusive insurance sector that should result into improved risk management options for low income people in Rwanda and hence reducing their vulnerability by creating a favorable and enabling environment that supports the creation of a vibrant and sustainable inclusive insurance sector.
Specific initiative and motivation to this call for experts: AFR has launched a new inclusive insurance innovation facility – the Insurance Client Centric Cycle (“I3C”). The Insurance Client-Centric Cycle (I3C) is AFR’s inclusive insurance sector development initiative that seeks to influence the development of appropriate insurance services for Rwanda. The initiative is part of AFR’s inclusive insurance market development intervention strategy which aims to increase access and usage of insurance services for low-income households and individuals. The I3C focuses on assisting market actors translating consumer insights into tailored innovative insurance solutions.
This approach leverages end-user evidence and insights and helps FSPs to adopt new business models in the pursuit of business viability and client value. The I3C approach is based on the Human-centered design (HCD) – a creative approach to problem solving; a process that starts with understanding problems faced by users and ends with new solutions to address them. AFR recognizes the growing evidence that the HCD approach to product development is an important step in identifying opportunities that would help FSPs deliver appropriate financial products for their existing and new customers. For the low-income customers, the application of the HCD approach in the product development cycles helps providers develop high-impact products that would assist people in the low-income market segments improve their lives. The I3C will provide technical and financial support to selected partners throughout the entire product development cycle.
AFR’s requirements for technical support may be varied depending on the market segments chosen by the I3C partners and type of insurance solutions that emerge from the market research process; this will necessitate working with a wide range of consultants, consultancy firms and research companies. However, all the experts that will be on the panel must have core expertise and experience in Human Centered Design (HCD) or client centric product development processes and inclusive insurance or microinsurance. This call for EOIs is aimed at identifying individual consultants or consulting firms with whom AFR can work with as follows:
AFR wishes to identify consultants who can conduct orientation workshops with the selected I3C partners. By virtue of the insurance sector, prior experience with application of HCD on financial services especially insurance will be a plus. Consultants should demonstrate their ability to engage successfully at a senior level in the financial institutions; helping the institutions to change their business models and become more customer centric. Their role on behalf of AFR would be to build knowledge and skills aimed at influencing strategic or behavioural change in these institutions. The HCD orientation training workshop is the first step in the I3C. After the orientation workshop, the HCD expert will work with insurance experts in the product design and rapid prototyping process.
Inclusive insurance or microinsurance specialists
AFR is seeking inclusive insurance or micorinsurance specialists in a number of areas in the product development process:
AFR envisages a number of potential engagements for consultants in this area – both short term (e.g. strategic and technical inputs) and long term (e.g. potentially managing the product development cycle). Experience in African insurance markets will be a plus.
The main purpose of the EOI is to enable AFR create a panel of pre-qualified consultants whom it can approach as and when it identified I3C partners. The first partners to the I3C will be selected by April 15, 2018.
AFR is committed to the principle of competitive tendering for value for money reasons and because it welcomes innovative insights and is committed to building sustainable inclusive insurance models in Rwanda. Consultants or consulting firms applying for this initiative must duly consider their suitability, expertise and experience. Pre-qualification through this EOI will ensure that selected consultants closely matched the anticipated technical assistance needs for I3C facility activities and partners.
For this exercise, AFR is inviting Expressions of Interest (EOIs) from suitably qualified individual consultants and consulting firms.
Please note – whether individual consultant or consulting firms, the assessment for pre-qualification will focus on the expertise and experience of consultants put forward. Each EOI should contain the name of consultant(s) and a full CV. The following details MUST also be included the EOI.
Your EOI, which should not exceed 3 pages of A4 (font size 11) in total (excluding CV) should be sent to AFR with with clear subject line: “Expression of Interest for a panel of Human Centred Design and Insurance Specialists” and indicate which area of expertise you are bidding for to email@example.com by 05:00 PM (Central African Time) on Friday 13th April 2018.
Questions or comments in respect of these terms of reference should be directed to Jean Bosco Iyacu, Director of Programs, AFR at firstname.lastname@example.org.