Expression of Interest For Market Assessment Of The Insurance Sector In Bangladesh

Expression of Interest for Market Assessment of the Insurance Sector in Bangladesh The objective of this assignment is to undertake a comprehensive market assessment of the insurance sector in Bangladesh, with a specific focus on nonlife insurance, to inform actionable interventions that can strengthen market development, inclusivity, and operational efficiency. The assessment will emphasize on the following two priority segments, while applying a crosscutting gender and climate lens throughout the analysis: 1) Agriculture 2) MSMEs In pursuit of this objective, the selected firm will be expected to: Develop a robust diagnostic of the insurance sector landscape, identifying key structural, regulatory, operational, and market level challenges faced by private insurers, with in depth analysis of the agriculture and MSME segments. Apply a gender and climate lens to assess the insurance needs of women led enterprises, evaluate climate risk coverage gaps, and identify opportunities to strengthen resilience through appropriate insurance solutions. Assess demand drivers, quantify insurance protection gaps, and identify requirements for tailored product design, delivery channels, and digital solutions to enhance market penetration and inclusivity. Identify challenges in the design, pricing, market and rollout of insurance products for Agriculture and MSMEs, and identify. Review successful cases in other countries in the region where non-life insurance products targeting MSMEs and Agriculture have been rolled out. Identify key success factors in those cases and reflect on how those could be replicated in the Bangladeshi market. Develop a targeted value proposition, including key success factors learned from other programs, to guide IFCs strategic engagement in the priority segments, including potential areas for advisory and investment support to the insurance companies. Provide high level, actionable recommendations for private insurers to address identified market gaps, improve operational efficiency, and leverage digital and innovative business models. Support knowledge dissemination by organizing a stakeholder workshop to present key findings and recommendations and facilitate dialogue among relevant market participants. Tender Link : https://wbgeprocure-rfxnow.worldbank.org/rfxnow/public/advertisement/6949/view.html