INVITATION TO SUBMIT EXPRESSIONS OF INTEREST

CVF-V20 Technical Advisory Services – CCRIF SPC

The CVF-V20 is an international intergovernmental organization of countries most threatened by climate change. It is currently composed of 74 member states from Africa, Asia, the Caribbean, Latin America, the Middle East, and the Pacific, representing 1.74 billion people worldwide. Headquartered in Ghana, the mandate of the CVF-V20 is to support member countries in building climate resilience and turning their vulnerability into prosperity.

ASSIGNMENT DESCRIPTION 

A key priority for CVF-V20 is to bolster the global financial safety net and cushion the yawning financial protection gap. Parametric insurance has become a leading instrument to assist in this endeavor. However, limited market sizes in Low-Income Developing Countries (LDCs) and Small Island Developing States (SIDS) pose a structural impediment to achieving scale; this often takes time and requires considerable investment and resources. Given the underdeveloped microinsurance market and growing climatic risk, increasing reinsurance pricing is a key hurdle hindering the scaling of microinsurance coverage. This contributes to three key challenges: (1) high reinsurance premium costs that could make products unviable; (2) the withdrawal of reinsurance or a significant increase in pricing due to extreme events; and (3) a lack of interest from reinsurers due to the small size of these markets.

Regional Risk Pools (RRPs) can play an instrumental role by providing anchor reinsurance for insurance providers, specifically for the inclusive insurance segment of the market. Preliminary discussions have been held with the Caribbean-domiciled RRP, CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility), as they have a keen interest in embedding a reinsurance window for inclusive insurance coverage. The V20 Secretariat will support this initiative.

To advance this important work, the V20 Secretariat has secured funding from the Federal Ministry for Economic Cooperation and Development (BMZ) of Germany and seeks the services of a competent firm or individual to provide technical advisory. The successful candidate will be required to provide technical advisory support including, but not limited to, the following:

1. Feasibility and Technical Advisory Report

An in-depth feasibility study and detailed advisory report on CCRIF venturing into the reinsurance segment to safeguard the exposures of inclusive insurance. The report should cover, inter alia:

  • Technical and financial feasibility of establishing and operating the reinsurance window.
  • Risk modeling, capital and financial requirements, and risk management considerations.
  • Regulatory considerations and requirements.
  • Review of the governance and institutional framework and recommendation of a suitable set-up. The assessment should consider whether the current set-up is sufficient to meet the needs of the private insurance market.
  • Review of the proposed cell structure and its potential to maximize risk diversification within the proposed reinsurance window.
  • Assessment of the additional technical and operational capacity that CCRIF would require to establish and operate the reinsurance window effectively.
  • Advisory recommendations to the CCRIF Board and Management on the pros and cons of establishing the reinsurance window as a business unit.

2. Stakeholder Workshop 

Coordinate with CCRIF to jointly organize, with the CVF-V20 Secretariat and the World Bank Group (WBG), a stakeholder workshop to socialize the proposed reinsurance initiative. The workshop should engage key stakeholders, including Ministries of Finance, insurance regulators and other relevant regulatory authorities, development partners, and private sector insurance and reinsurance stakeholders. The consultant will support the preparation of workshop materials, presentation of the feasibility findings and recommendations, facilitation of stakeholder discussions, and documentation of feedback and agreed next steps.

ELIGIBILITY 

This invitation is open to both local and international firms or individuals. Eligible applicants should not have been cited for suspension or been banned for corrupt or fraudulent procurement or business practices by recognized international organizations such as the United Nations, the World Bank, or any recognized public body locally or internationally.

REQUIREMENTS 

The Proposal must be submitted via email to [email protected]. While Proposals should be brief, the following information should be included to assess the candidate’s ability to meet the requirements of the contract:

  • Full contact details.
  • CVs, including qualifications, experience, and references.
  • Brief overview of current/past assignments, preferably of a similar size, scope, and seniority.
  • Declaration of any potential conflicts of interest.
  • Financial Proposal (pricing structure and any additional fees): 20% weighting.
  • Technical Proposal: 80% weighting.

 

All received applications will be treated with strict confidentiality. Applications will be accessible only to the CVF-V20 Secretariat evaluation committee and the CCRIF for the sole purpose of evaluating this Expression of Interest. All submitted data will be retained only for the duration of the selection process and will be securely disposed of following the conclusion of the procurement.

CRITERIA FOR SELECTION 

The Secretariat will conduct a detailed assessment of all applications in line with the requirements and will make a selection based on the proposal that offers the best value for money. Proposals will be assessed based on the detailed technical file and financial offer submitted by each service provider. Assessment criteria will include:

  • Preferably a PhD or Master’s degree in a relevant discipline.
  • Minimum of 10 years of experience in disaster risk financing, catastrophe risk management, or modeling, including experience in providing board-level strategic advisory support.
  • Strong understanding of and experience working with both indemnity and parametric catastrophe insurance products and associated modeling.
  • Strong understanding of and experience working within the international development community, including the role of multilateral organizations, development banks, and sovereign risk pools.
  • Strong understanding of and experience working within the Caribbean Region, including the specific context and challenges for disaster risk financing and management across the region.

SUBMISSION PROCEDURE 

All applications must be submitted via email to [email protected] under the subject “Technical Advisory Services Proposal – CCRIF SPC”. Applications are to be submitted no later than the close of business on 21 September 2026. Only shortlisted applicants will be contacted. Shortlisted applicants may be invited for interviews to discuss their proposals further. The selected provider will be notified by 30 September 2026.

TIMETABLE

The period of this assignment is until the end of 31 January, 2027, with an estimated schedule of outputs as follows:

Outputs Approximate Completion Date
Contract Signing
5th October 2026
Commencement of Contract
5th October 2026
Completion of Contract
31st January 2027