Organization: Chemonics
Country: Colombia
Closing date: 21 Apr 2017
Chemonics seeks insurance consultants for short-term assignments under the ongoing USAID Rural Finance Initiative (RFI) in Colombia. RFI supports financial intermediaries in increasing their rural financial services for micro, small, and medium-size producers and businesses and the inclusion of certain populations. There is strong unmet demand for rural financial services, and during the last five years regulatory reforms have improved the enabling environment by allowing movable collateral micro-insurance mechanisms. However, financial institutions lack the experience to design and implement these mechanisms to reach rural clients. RFI's initial assistance to financial intermediaries has focused on credit and savings products, and the Initiative seeks to expand financial intermediaries' product options to offer insurance services as well. The insurance consultants, over a period of three to four weeks in Colombia, will provide technical assistance to financial intermediaries in identifying, designing, and implementing insurance products (including micro-insurance products) that meet the demand of low-income and other customers in rural areas. We are looking for individuals who have a passion for making a difference in the lives of people around the world.
Responsibilities Include:
- Identify insurance solutions/products (outside life, accident, and funeral insurance) to meet the demands of rural area customers for RFI-supported financial intermediaries
- Apply best practices and proven models for insurance and micro-insurance products targeted to low-income populations or rural customers that have been successful in Latin America and elsewhere globally to inform work in Colombia
- Provide technical assistance to RFI partner financial intermediaries (including banks, microfinance institutions, insurance companies, and finance corporations) in assessing, designing, and implementing insurance or micro-insurance mechanisms targeted for their rural clients
- Ensure mechanisms are designed to overcome barriers to access to insurance
- Design and write detailed procedures, manuals, workflow charts, and job aids for financial intermediaries for implementing insurance products, which must be different from already well-used insurance policies such as accident and life insurance
- Review and refine RFI's micro-insurance services strategies targeted to assist financial intermediaries (banks, microfinance institutions, and finance corporations) in designing and implementing products in RFI's targeted seven economic corridors
- Conduct ongoing assessment of micro-insurance opportunities in the seven economic corridors, analyzing financial institutions interested in providing such services
- Produce reports with specific recommendations and strategies for enhancing micro-insurance in Colombia, including new opportunities
Qualifications:
- Bachelor's degree or higher in business administration, finance, trade, economic development, or a related discipline
- Minimum eight years of relevant experience working and implementing insurance or micro-insurance products for rural areas or low-income populations
- Experience working with private financial intermediaries to design and implement insurance mechanisms for vulnerable and low-income populations, including writing procedures, manuals, and job aids
- Experience in the design of marketing/commercial strategy for insurance products
- Demonstrated experience in securing support from insurance and reinsurance companies to offer insurance products designed
- Demonstrated ability to break down the barriers that insurance companies normally have to take risks, especially in the agricultural sector
- Experience delivering training and building capacity of insurance service providers, and strengthening insurance coverage in low-income and agricultural populations
- Experience working in developing country settings required; experience working in Latin America and the Caribbean preferred
- Demonstrated leadership, versatility, and integrity
- Spanish language skills preferred
How to apply:
Send electronic submissions including CV and cover letters to ColombiaRFIrecruit@chemonics.com by April 21, 2017. Please include "Insurance Consultant" in the subject line. No telephone inquiries, please. Finalists will be contacted to provide further information on relevant experience prior to selection of candidates for interviews.
