The Road Accident Fund seeks a qualified Independent Actuarial Service Provider to conduct a comprehensive actuarial review of its Outstanding Claims Liability as of March 31, 2026. This review will ensure accurate valuation and compliance with regulatory standards.
The Road Accident Fund (RAF) is inviting proposals from experienced Independent Actuarial Service Providers to perform a structured and evidence-based review of its Outstanding Claims Liability valuation as of March 31, 2026. This tender emphasizes the importance of adhering to the provisions of the Protection of Personal Information Act, ensuring that all data handling and processing is conducted with the utmost confidentiality and security. The successful bidder will be responsible for implementing robust security measures for document handling, storage, and transportation, as outlined in the tender documents.
The scope of work includes conducting a thorough analysis of the RAF's claims liabilities, ensuring that all findings are backed by solid evidence and actuarial principles. The selected service provider will be expected to maintain accurate records, implement secure retrieval protocols, and ensure compliance with data protection laws. Additionally, the provider will need to demonstrate their capacity for cybersecurity measures to protect sensitive information from unauthorized access. This engagement not only aims to provide a reliable valuation of claims but also to enhance the overall risk management framework of the RAF, ultimately benefiting the organization and its stakeholders.
This tender is suitable for actuarial firms with experience in insurance claims, particularly those with a strong emphasis on data security and compliance with regulatory standards. Businesses that specialize in financial analysis and have a proven track record in handling sensitive information will find this opportunity relevant.