Invitation To Tender: Selection of Consulting Firm for the Development of the Business Requirements of Reinsurance Management System

Lagos, Nigeria
Closing date for applications: 2018-12-20

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Summary

BACKGROUND

Established in 1976 by 36 member States of the African Union and the African Development Bank Group (AfDB), The African Reinsurance Corporation (AFRICA RE), the leading reinsurance company in Africa and the Middle East, is a pan-African financial institution whose shareholding is split between African (75%) and Non-African (25%) investors. African shareholding comprises 41 African states, the AfDB and more than 100 African insurance/reinsurance companies from the 41 member countries. Headquartered in Lagos (Nigeria), Africa Re has a continental network of regional and local offices in Lagos (Nigeria), Casablanca (Morocco), Nairobi (Kenya), Abidjan (Côte d’Ivoire), Ebène (Mauritius), Cairo (Egypt) and Addis Ababa (Ethiopia) as well as two subsidiaries: Africa Re (South Africa) Ltd in Johannesburg and Africa Retakaful Ltd in Cairo (Egypt).

Africa Re is currently in the process of acquiring a new Reinsurance Management System for its core business functions. This new software solution would enable the Corporation to offer its customers a world class service and have dramatic impact on its operational efficiency as well as give it a measurable competitive edge in the reisurance marketplace.


OBJECTIVES

Africa Re is seeking to hire a Consulting firm that will assist the Corporation in the development of its core business application (Reinsurance Management System) requirements. The consultant will use his/her technical skills, consulting experience, business knowledge, and packaged solutions expertise to develop a standardized business requirements.

The following business areas are covered by Africa Re's operations:

* Underwriting:

- Treaty,

- Facultative

- Life

- Takaful

- Pools

- Retrocession (Regional, Subsidiary, Pools & Group Retrocessions)

* Central Operations Requirements

* Claims Administration

* Technical Accounts

* Finance and Credit Control including

* Compliance with IFRS

* Internal Audit

* Actuarial & Analytics: Pipelining, Reserving i.e. UPR, IBNR, etc.,

* Risk Management

* Regulatory Requirements as per various Jurisdictions:

- Classes, Sub-Classes of Business, Technical Provisions Calculations, etc.,

* Interfaces with other Modules such ERP, IBNR Reserving System, Balance Score Card System, etc.

* Reports (Various as it relates to specific functional areas)

* Business Intelligence

* ICT — System security, Data Warehousing and General Management

* Any there functionalities as may be considered necessary.

Download Full RFP below

  • Full RFP: Selection of Consulting Firm for the Development of the Business Requirement of Reinsurance Management System

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