Firm to support the implementation of insurance innovation Challenge in Uganda

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In 2021, UNDP launched the Insurance and Risk Finance Facility (IRFF), a dedicated resource for UNDP Country Offices and country partners worldwide, within the Sustainable Finance Hub. The IRFF is a flagship initiative which focuses on inclusive insurance, sovereign risk financing, insurance investments, natural capital, health, SME development and other areas where insurance and risk transfer solutions and collaboration with the insurance industry can add significantly to the achievement and delivery of the Sustainable Development Goals (SDGs). The IRFF aims to foster financial resilience and underpin sustainable development worldwide by harnessing the power of insurance and risk financing. It focuses on vulnerable populations, communities, and ecosystems, particularly developing inventive insurance solutions and services. The overarching goal is to forge sturdy financial resilience against escalating climate risks through inclusive insurance, risk financing mechanisms, governance, development, advocacy, research, and evidence-based practices.In Uganda, UNDPs IRFF initiative began in 2023, aiming to transform the insurance market through innovative product development and regulatory enhancements. This initiative, supported by the German government, is aligned with the National Priorities and insights from the 2024 Diagnostic Study on Inclusive Insurance and Risk Financing. Despite a decade-long presence, micro-insurance remains underdeveloped in Uganda, with limited uptake and significant market barriers. IRFF seeks to address these challenges by fostering sustainable, scalable, and commercially viable insurance solutions.To accelerate these efforts, UNDP Uganda in collaboration with Insurance Regulatory Authority (IRA) is launching the Insurance Innovation Challenge Fund (IICF) to develop inclusive insurance solutions, expand market reach, and address protection gaps for underserved communities. The Insurance Innovation Challenge (IIC) aims to engage the insurance industry in developing or scaling-up solutions that enhance financial resilience and promote inclusive growth through the Insurance Innovation Challenge, using a Hackathon modality.The hackathon will serve as a platform to crowdsource innovative new or existing ideas from a diverse group of participants. The collaborative nature of a hackathon will enable participants to co-create solutions that address specific challenges such as health shocks, climate risk, business risk and nature-related riskThe primary objective of the innovation challenge is to leverage insurance and risk financing to protect lives, livelihoods, and assets, contributing to economic growth and resilience in Uganda. The Insurance Innovation Challenge aims to:•Identify and support insurance solutions for underserved markets, in the focus areas of resilient households, communities and countries, businesses, nature and food systems.•Promote innovative, inclusive insurance models that target underserved populations, leveraging technology, new distribution channels, and partnerships.•Enable local insurers and private sector actors to develop and implement tailored products and services.•Share insights and create guidance materials to support the replication of successful models globally.The innovation challenge will use a hackathon format to identify and work with actors in the insurance ecosystem to support their products and services. This initiative will complement IRA’s InsureX program by building upon the successful first InsureX cohort (7 graduates, October 2023) and leverage the established two-tier innovation pathway: InsureX accelerator training followed by IRA Regulatory Sandbox testing.The firm to be recruited will support with the implementation of the Insurance Innovation Challenge Hackathon in Uganda. The selected firm will be responsible for the end-to-end design and implementation of an innovation challenge and hackathon focused on inclusive insurance in Uganda.Please indicate whether you intend to submit a bid by creating a draft response without submitting directly in the system. This will enable the system to send notifications in case of amendments of the tender requirements. Should you require further clarifications, kindly communicate using the messaging functionality in the system. Offers must be submitted directly in the system following this link:http://supplier.quantum.partneragencies.orgusing the profile you may have in the portal. In case you have never registered before, you can register a profile using the registration link shared via the procurement notice and following the instructions in guides available in UNDP website:https://www.undp.org/procurement/business/resources-for-bidders.Do not create a new profile if you already have one. Use the forgotten password feature in case you do not remember the password or the username from previous registration.Search for the specific tender using search filters and subscribe to the tender in order to get notifications in case of amendments of the tender document. If you need support with the online system, you can contact the contact details of this tender as indicated in the solicitation document.UUNDP OFFICE UGANDAPROCUREMENT UNIT

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Government, Power Generation (CCGT), Commercial, Residential