| Ministry/Division |
: |
Ministry of Finance |
| Agency |
: |
Insurance Development and Regulatory Authority |
| Procuring Entity Name |
: |
Project Director, Jamuna River Sustainable Management Project-1 (Disaster risk financing Component-3) (1st Revised) |
| Procuring Entity Code |
: |
|
| Procuring Entity District |
: |
Dhaka |
| Expression of Interest for Selection of |
: |
Individual Consultant (National) (Time-Based) |
| Title Of Service |
: |
Consultancy for Placement Service of Insurance Product- 01 (One) Position
|
| EOI Ref. No. |
: |
53.03.0000.091.14.049.2026.96 |
| Date |
: |
23/02/2026 |
KEY INFORMATION
|
| Procurement Sub-Method |
: |
Selection of Individual Consultants (SIC) |
FUNDING INFORMATION
|
| Budget and Source of Funds |
: |
Development Budget Grant/Credit |
| Development Partners |
: |
IDA (World Bank) |
PARTICULAR INFORMATION
|
| Project/Programme Name |
: |
Jamuna River Sustainable Management Project-1 (Disaster risk financing Component-3) (1st Revised) |
| EOI Closing Date and Time |
: |
12/03/2026 12:00 PM
|
| Publication Date |
: |
24/02/2026
|
INFORMATION FOR APPLICANT
|
| Brief Description of Assignment |
: |
SCOPE OF WORK
The Placement Services Provider will be responsible for the development, structuring, marketing, execution, of the MLFRTP, in coordination with IDRA, SBC, WRMS, WFP, PIU the DRF-TWC, and other stakeholders. The scope of work includes but is not limited to the following:
• Review and support the analysis of the modelled risk exposure developed by WRMS.
• Recommend optimal attachment points, retention levels, and coverage structures for the MLFRTP, based on modelling outputs and prevailing market capacity.
• Support DRF-PIU in negotiating with interested parties to obtain indicative or firm pricing offers, ensuring a transparent and competitive process.
• Evaluate SBC quotes and proposals, and recommend the most appropriate coverage, alternate trigger and coverage options with comparative cost-benefit analysis.
• Support SBC to finalize contracts with appropriate reinsurers.
• Ensure compliance with:
i. World Bank Anti-Corruption Guidelines.
ii. National and international reinsurance regulations.
iii. IDRA’s internal standards and governance protocols.
• Cooperate with any required audits or investigations and maintain confidentiality of all sensitive data and contracts. |
| Experience, Resources and Delivery Capacity Required |
: |
REQUIRED EXPERTISE
The Placement Services Provider (individual consultant) requirements of following qualifications, experience, and competencies:
• Bachelor’s in finance, Accounting, Business Administration, Management, Commerce, Statistics, Economics or relevant areas with coursework in insurance or risk management.
• Must demonstrate strong knowledge and practical experience in both international and domestic insurance or reinsurance markets, and other innovative risk financing mechanisms.
• Must have experience working with insurance or reinsurers to ensure the most appropriate coverage, trigger and coverage options through transparent, competitive negotiation processes
• Experience in designing, structuring, and placing sovereign-level or large-scale parametric/weather index-based insurance products in developing or climate-vulnerable contexts will be considered valuable.
• Macro-level risk transfer solutions for government or multilateral clients (World bank, ADB, EU etc.), preferably in flood, cyclone, or agricultural insurance schemes are preferable.
• Understanding of basis risk management and integration of complementary instruments (e.g., CPF) to manage basis risk in sovereign insurance programs.
• Comprehensive knowledge of Bangladesh’s insurance regulations and policies, including those of the Insurance Development and Regulatory Authority (IDRA) and Sadharan Bima Corporation (SBC).
• Strong negotiation skills to secure favorable terms, coverage breadth, and pricing for sovereign risk transfer contracts.
• Excellent written and spoken English; working proficiency in Bangla is an advantage.
• Ability to present complex financial and technical concepts in a clear and concise manner to varied audiences. |
| Other Details (if applicable) |
: |
EFFORT AND ENGAGEMENT
• The expected level of effort and engagement for the Placement Services Provider will be aligned with the operational calendar of DRF Component 3 and the timelines for the design, market engagement, placement, and renewal of the MLFRTP.
• The initial engagement is expected to run for up to 200 days initially. However, this assignment may be increased or decreased subject to satisfactory performance or per the requirement of the project.
• The assignment period may be extended based on project needs, budget availability, and satisfactory performance, particularly to support subsequent renewal cycles.
• The Placement Services Provider will maintain regular coordination with the PIU at IDRA through virtual and in-person meetings.
• The Placement Services Provider must ensure timely responsiveness to market opportunities, negotiations, and technical clarifications required by IDRA, SBC, or the World Bank.
• Key experts must be available on short notice during the placement and claims settlement phases to meet operational deadlines.
• Progress will be monitored against the agreed Work Plan in the inception report, with monthly check-ins and milestone-based reviews by the PIU.
• The PIU will assess performance based on quality of deliverables, adherence to timelines, market outcomes achieved, and compliance with procurement and ethical standards. |
| Association with foreign firms is |
: |
Not Applicable |
| Eoi Detail Information |
|---|
| Ref No |
Phasing Of Services |
Location |
Start Date |
Completion Date |
| SD-10-Re |
No |
Dhaka |
April 01, 2026 |
June 30, 2028 |
|
PROCURING ENTITY DETAILS
|
| Name of Official Inviting EOI |
: |
Kamrul Hoque Maruf |
| Designation of Official Inviting EOI |
: |
Project Director (Joint Secretary), Jamuna River Sustainable Management Project-1 (Disaster risk financing Component-3) (1st Revised) |
| Address of Official Inviting EOI |
: |
(7th Floor) SBC Tower, 37/A, Dilkusha C/A, Dhaka-1000. |
| Contact details of Official Inviting EOI |
: |
Phone : 09645900186, Fax : , Email : js.project@fid.gov.bd |
| The procuring entity reserves the right to accept or reject all tenders |
