GrowthFin, a programme of the Financial Sector Deepening Trust (FSD Kenya) is designed to play a catalytic role in the growth of small and medium sized businesses by expanding access to financial products and services. GrowthFin seeks to build capacity in SME risk assessment and management as well as support the development of financial products and services suited to the SME market. GrowthFin works with policy makers, donors, industry associations and financial institutions to identify and overcome impediments to the provision of financial services to SME's.
The Private Sector Development Strategy Implementation Plan (PIP) is a five year framework designed and agreed between major donors and the Kenya Government to create an enabling environment for the growth of a dynamic private sector that can sustainably contribute to real poverty reduction in the country. The PIP is being coordinated by a secretariat housed at the Kenyan Ministry of Trade. FSD Kenya is one of the key implementation partners for the PIP on elements relating to access to finance under goal #5 (Support for entrepreneurship and MSE development).
One area of concern, highlighted in the PIP, is the limited access by SMEs to insurance products. Typical SME insurance products include bid and performance bonds, crop and weather insurance, and some cover for supply chain risks. None of these products is fully developed or actively used in the Kenyan market although some companies offer bid and performance bond cover.
In order to structure any appropriate intervention that would increase access to insurance for SMEs, the first step is to document the reasons for their poor uptake of insurance.
GrowthFin is seeking expressions of interest (EOI) from expert consultant(s) to conduct a detailed study of the demand for insurance among SMEs in Kenya. You should possess a keen understanding of issues in insurance product design and delivery and broad knowledge of SME finance. An ability to design, conduct and interpret robust surveys is an added advantage. If you feel you or your firm posses the necessary skills and experience to conduct this study please send a cover letter accompanied by a profile indicating similar past experience, the curriculum vitae of proposed personnel and an indicative daily rate for undertaking the assignment to Add "EOI Insurance Study" in the subject line.