Background on the assignment:
Over the last decade, there has been significant progress in both access and usage of formal financial products and services that include savings, credit, remittances, insurance, and pensions. The advent and proliferation of digital financial services has substantially narrowed down the exclusion gaps especially among remote rural Pacific islanders. There is high-level commitment and policy direction towards use of digital services for improving lives and livelihoods of people in the Pacific. There is however need for empowering customers with appropriate knowledge, skills, and competencies to “Leave No One Behind in the Digital Era”.
Increasingly, the Pacific has been faced with the devastating impacts of naturally induced catastrophes, disasters, and climate change that has seen many of our communities displaced and unable to rebuild due to the associated cost of damage. This is further exacerbated with limited understanding of not just the insurance concept and mechanisms but also basic financial literacy such as savings, budgeting, pensions etc. that can assist to mitigate against economic shocks caused by such events.
Insurance, in particular (parametric, index-based, and non-parametric, indemnity based) climate and disaster risk insurance, is a financial risk transfer product that enables policyholders or beneficiaries, including individuals, families, communities and businesses, to gain a degree of protection against unexpected events and cope with the costs, thereby building their financial resilience, improving their financial well-being.
The Pacific Insurance and Climate Adaptation Programme (PICAP) is jointly administered by the United Nations Capital Development Fund (UNCDF), the United Nations Development Programme (UNDP) and the United Nations University, Institute for Environment and Human Security (UNU-EHS). The overall objective of the programme is to improve the financial preparedness of Pacific households, communities, small businesses (MSME), organizations, and Governments to deal effectively with effects of climate change and natural hazards. To achieve this, the programme intends to work with both public and private sector partners to develop, pilot, test and scale market-based climate and disaster risk financing instruments like parametric insurance.
The Programme intends to achieve its results through activities carried out under four workstreams – Policy and Regulations, Open Digital Payment Ecosystems, Inclusive Innovation and Empowered Customers.
Climate and disaster risk insurance is new to the region and the Pacific Insurance and Climate Adaptation Programme jointly implemented by UNCDF, UNDP and UNU-EHS has developed and piloted the region’s first ever parametric microinsurance product in Fiji in 2021. As part of its regional expansion, demand studies were conducted in Vanuatu and Tonga in 2020 and subsequently parametric products were developed and launched in October and November of 2022 respectively. PICAP also plans to undertake demand studies in Samoa to assess the interest, financial feasibility, willingness to pay, risks and perils exposure, specific livelihood related issues, present access to formal financial services, attitudes, perceptions, behaviors while accessing financial services and barriers to access and usage.
Duties and Responsibilities
Scope of Work
The consultant will carry out the following activities:
Expected Outputs and Deliverables
Duration of the Work
The envisaged duration for the engagement will be for 60 days between 9th January 2023 to 31st March 2023.
Apia, Samoa with limited local travel within country subject to Covid-19 protocols.
Required Skills and Experience
Price Proposal and Schedule of Payments
Consultant must send a financial proposal based on Lump Sum Amount. The total amount quoted shall be all-inclusive and include all cost components required to perform the deliverables identified in the TOR, including professional fee, travel costs, living allowance and any other applicable cost to be incurred by the IC in completing the assignment. The contract price will be fixed output-based price regardless of extension of the herein specified duration. Payments will be done upon completion of the deliverables/outputs and as per below percentages:
In general, UNDP shall not accept travel costs exceeding those of an economy class ticket. Should the IC wish to travel on a higher class he/she should do so using their own resources.
In the event of unforeseeable travel not anticipated in this TOR, payment of travel costs including tickets, lodging and terminal expenses should be agreed upon, between the respective business unit and the Individual Consultant, prior to travel and will be reimbursed.
Evaluation Method and Criteria
Individual consultants will be evaluated based on the Cumulative analysis methodology. The award of the contract shall be made to the individual consultant whose offer has been evaluated and determined as a) responsive/compliant/acceptable; and b) having received the highest score out of set of weighted technical criteria (70%). and financial criteria (30%). Financial score shall be computed as a ratio of the proposal being evaluated and the lowest priced proposal received by UNDP for the assignment.
Technical Criteria for Evaluation (Maximum 70 points)
Only candidates obtaining a minimum of 49 points (70% of the total technical points) would be considered for the Financial Evaluation.
Interested individual consultants must submit the following documents/information to demonstrate their qualifications. Please group them into one (1) single PDF document as the application only allows to upload maximum one document:
Note: Successful individual will be required to provide proof of medical insurance coverage before commencement of contract for the duration of the assignment.
Incomplete, joint proposals and proposals sent to the wrong mailing address will not be accepted and only candidates for whom there is further interest will be contacted. Individuals interested in this consultancy should apply and will be reviewed based on their own individual capacity. The successful individual may sign an Individual Contract with UNDP or request his/her employer to sign a Reimbursable Loan Agreement (RLA) on their behalf by indicating this in the Offerors letter to Confirming Interest and Availability using Annex II.
Women applicants are encouraged to apply
|Closing date:||December 11, 2022|