Consulting services: Strengthening the approach to the management of insurance claims (insurance requirements).

Request for Expression of Interest (Consulting Services - Competitive Selection of a Firm Based on Qualifications)

Kyrgyz Republic

Enhancing Resilience in Kyrgyzstan Project (ERIK, ERIK AF)

Loan No. IDA 66870 Grant No. IDA D6550

Tender No. KG-CS/CQS-09

Assignment Title: Consulting services «Enhancing Claims Management for the Mandatory Insurance of Residential Buildings Against Emergency Situations in Kyrgyzstan»

Component 3 of the project «Enhancing Resilience in Kyrgyzstan (ERIK)»: Enhancing Financial Protection and Insurance Against Natural Disaster Risks.

Responsible agencies: the Financial Market Regulation and Supervision Service under the Ministry of Economy and Commerce of the Kyrgyz Republic and State Insurance Organization OJSC.

The main objective of the Component is to support the efforts of the Government of the Kyrgyz Republic in reducing the financial impacts of emergencies.

To support the Government of the Kyrgyz Republic, the State Insurance Organization (SIO), and any future potential collective insurance pool to strengthen the institutional and operational foundations of claims management for the mandatory residential insurance in Kyrgyzstan.

Specifically, the assignment aims to:

•Analyze the current state and prepare proposals for modernizing claims management procedures to increase the efficiency of claim administration and loss assessment methodology, including development of internal regulations for claim settlement;

•Planning surge capacity to manage a high volume of claims following major disaster events;

•Reviewing OJSC “SIO” existing IT system and developing recommendations for the structure of claims processing for mandatory residential building insurance through OJSC “SIO” IT system;

•Deliver capacity-building to Gosfinnadzor, OJSC “SIO” and other relevant stakeholders on the proposed changes to the procedures and on the use of disaster relief bonds.

The consultant will deliver technical and advisory services on enhancing...