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Consulting Firm to Conduct Actuarial Study on Life Insurance Group Business Job at Rwanda Insurers Association (ASSAR)

  • Rwanda Insurers Association (ASSAR)
  • Employment Type: Contract
  • Salary:
  • Deadline: 2020-10-15
  • Location: Kigali - Rwanda
Consulting Firm to Conduct Actuarial Study on Life Insurance Group Business

Job Description

The Rwanda Insurers Association (ASSAR) was founded in 1992 as an independent non-profit making consultative and advisory body for the insurance industry. The Association currently has 12 members. One of the core mandates of the Association is to champion and enabling the environment for its members, promote growth through market development and excellence in the insurance industry.

The insurance sector is an integral component of the financial system in Rwanda. It is the third-largest component of the financial system after banking and public pension fund. The sector supports the economy by providing risk mitigation mechanisms for households and firms as well as supporting financing by investments mobilized from policyholders. Its performance and growth are thus, critical for economic growth and development.

Job Requirements

However, the financial performance of the sector continues to encounter some challenges including significant losses driven mainly by weak underwriting and price undercutting as well as high claims ratios. While the general insurance has reached the milestone of establishing motor insurance minimum rates based on an actuarial study, the Life insurance sector lags behind, yet the risk of consistent losses is very neat given the long term nature of the Life insurance business.

To this end, ASSAR is soliciting bids from consulting Actuarial firms or an Actuary who is a fellow of a recognized actuarial society, to make an in-depth assessment of the group life assurance and credit Life assurance businesses across the industry by identifying the underlying challenges facing the life insurance business, assessing the adequacy of the prevailing premium rates and establish the minimum rates for these product lines.

How to Apply

Interested candidates can collect a detailed document of the requirements by clicking on the attachment below or by sending an email requesting the document to info@assar.rw by October 7th, 2020 at 5.00 PM (GMT + 2). Technical and Financial offers should be submitted by email to the above address by October 15th, 2020 at 5.00 PM (GMT + 2).

Attachment: 

PDF icon ToRs GROUP LIFE CREDIT BUSINESS_FINALc54c029c04a882ac24d843ab6f894b9e.pdf

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