Intermediary Brokerage Services for Insurance

The Road Accident Fund (RAF) is inviting bids for the appointment of an intermediary/brokerage service provider for a duration of five years. This tender aims to secure a qualified broker who will act as an intermediary between the RAF and the insurance market, facilitating the procurement of insurance and reinsurance coverage for third-party bodily injury claims, short-term assets, and emerging liability risks. The successful bidder must demonstrate extensive experience in the insurance and reinsurance sectors, with established links to international brokers and the capacity to provide trend analysis and claims recovery services.

Key requirements include a valid license to operate as a Financial Services Provider, a robust business continuity management plan, and compliance with tax obligations. Bidders must also provide detailed proposals outlining their approach to managing RAF's insurance needs, including policy renewal methodologies and risk assessment strategies. This contract not only aims to enhance the RAF's insurance framework but also to ensure timely and effective claims management, ultimately contributing to the financial stability and operational efficiency of the Fund.