INVITATION TO SUBMIT EXPRESSIONS OF INTEREST

CVF-V20 Technical Advisory Services PCRIC

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 1.81 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 micro and meso segments of the market. Preliminary discussions have been held with the Pacific-domiciled RRP, the Pacific Catastrophe Risk Insurance Company (PCRIC), as they have a keen interest in embedding a reinsurance window for microinsurance coverage. The V20 Secretariat will support this initiative.

The CVF-V20  seeks the services of a competent firm or individual to provide technical advisory services. The successful candidate will be required to provide technical advisory support, including, but not limited to, the following:

  1. Conducting a diagnostic risk assessment on the feasibility of PCRIC becoming a reinsurer, including regulatory requirements, capital adequacy, risk appetite, operational and governance readiness.
  2. Providing advisory support to the PCRIC Board and Management on the pros and cons of a domestic reinsurance facility.
  3. Examining the business model of PCRIC, supporting the embedding of a reinsurance window as part of their overall product offerings, and assisting with the set-up of this instrument.
  4. Supporting PCRIC in discussions with regulators regarding the requirements of this new business window and assisting in fulfilling all regulatory requirements. This will involve drafting the regulatory submission and directly engaging with the regulators. 
  5. Coordinating with PCRIC to organize a workshop with relevant stakeholders to launch this initiative.

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 World Bank, United Nations, 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 in assessing 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 to be quoted in USD (Prices must be exclusive of any applicable taxes unless otherwise specified)

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 Masters in a relevant discipline.
  • Minimum 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/experience working with both indemnity and parametric catastrophe insurance products and associated modeling.
  • Strong understanding of/experience working within the international development community, including the role of multilateral organizations, development banks, and sovereign risk pools.
  • Strong understanding of/experience working within the Pacific Region, including experience with sovereign or regional risk pools, micro insurance markets, and Pacific regulatory environments.

SUBMISSION OF INDIVIDUAL PROPOSALS OR AS PART OF A CONSORTIUM

  • Bidders may submit proposals individually or as part of a joint venture or consortium. 
  • Where a Bidder is a group of legal entities that will form or have formed a Joint Venture (JV), or Consortium for the Bid, they shall confirm in their Bid that: (i) they have designated one party to act as a lead entity, duly vested with authority to legally bind the members of the JV or Consortium  jointly and severally, which shall be evidenced by a duly notarized Agreement among the legal entities, and submitted with the Bid; and (ii) if they are awarded the contract, the contract shall be entered into by and between the CVF-V20 and the designated lead entity, who shall be acting for and on behalf of all the member entities comprising the Joint Venture or Consortium. 
  • The description of the organization of the JV, Consortium or Association must clearly define: (1) The expected role of each of the entities in the joint venture in delivering the requirements of the RFP, both in the proposal and the JV or Consortium.. 
  • Once  the deadline for submission of proposals lapses, the lead entity identified to represent the JV, Consortium or Association shall not be altered without the prior written consent of the CVF-V20.

SUBMISSION PROCEDURE

All applications must be submitted via email to [email protected] under the subject “Technical Advisory Services Proposal – PCRIC”. Applications are to be submitted no later than the close of business on 30 June 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 7th July 2026. All received applications will be treated with strict confidentiality. Applications  will be accessible only to the CVF-V20 Secretariat evaluation committee and CEO PCRIC 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.

ESTIMATED TIMETABLE

The period of this assignment is until mid December 2026, with an estimated schedule of outputs as follows: 

Outputs Approximate Completion Date
Contract Signing
15th July 2026
Commencement of Contract
16th July 2026
Completion of Contract
15th December 2026