The Land Bank seeks to appoint a panel of up to five service providers to deliver ad hoc actuarial services for a duration of five years. Bidders must demonstrate relevant experience and provide competitive pricing.
The Land Bank is inviting proposals for the appointment of a panel of up to five service providers to deliver ad hoc actuarial services over a five-year period. This tender aims to enhance the Bank's actuarial capabilities, particularly in areas such as product development, technical pricing, regulatory capital requirements, and economic capital modeling. The selected providers will work closely with the Land Bank's internal actuarial team to ensure compliance with Prudential Standards and assist with various actuarial tasks as needed.
Bidders must have proven experience in the insurance sector, particularly in agricultural insurance, and be able to demonstrate their capability in providing actuarial support services. The scope of work includes but is not limited to actuarial investigations, pricing basis development, reinsurance optimization, and technical provisions calculations. The Land Bank emphasizes the importance of independence and segregation of duties in the actuarial function, ensuring that the appointed service providers can operate effectively within the established framework. This initiative is expected to contribute significantly to the Bank's strategic objectives and operational efficiency.
This tender is suitable for actuarial firms with expertise in insurance, particularly those with experience in agricultural insurance and the ability to provide ad hoc consulting services. Businesses that can demonstrate a strong track record in actuarial support and compliance with regulatory standards are encouraged to apply.
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