Request for Expressions of Interest - Peer Review of the Runoff Model

REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES – INDIVIDUAL SELECTION)

Assignment Title: Peer Review of the Runoff Model 1.0 

Scope of the Assignment:

The Runoff model (RO 1.0) for Guyana and Suriname has been developed for CCRIF by a company referred to herein as “the developer” and CCRIF is searching for a Consultant (“Peer Reviewer”) qualified on the subject to perform the peer review.

The expected services from a successful Peer Reviewer are the following:

1. Read the Model Development Proposal. CCRIF will provide the Peer Reviewer the Terms of Reference used to procure the model development.
    
2. Read the Model Documentation.  CCRIF will provide the Peer Reviewer information necessary for the peer review. The documentation may consist of, but is not limited to, the following items:
   1. The technical documentation produced by the developer to describe the work performed to develop the model
   2. A presentation by the authors about the model
   3. Maps with findings
   4. Other support material produced by CCRIF
       
3. Interaction with the model developer. The Peer Reviewer is expected to interact with the developer via electronic mail and other means for clarifications. If the interactions occur via electronic mail, the Peer Reviewer will copy a designated person at CCRIF. If the interactions occur via phone, before the call the Peer Reviewer will notify the designated CCRIF person so that he/she can elect whether to participate or not in the call. CCRIF will provide the Peer Reviewer with the name and email address of the point of contact at in the developer team to whom he/she can address any such request.
    
4. Interaction with CCRIF. The Peer Reviewer is expected to interact with the Senior Risk Management Specialist at CCRIF regarding the Peer Review. Although the Peer Reviewer will not have direct access to the developer’s catastrophe models, he/she may ask the Senior Risk Management Specialist to carry out specific analyses with the developer’s models and to report back the model output. The CCRIF Senior Specialist may also provide the Peer Reviewer with comments about the peer review findings.
5. Reporting. The Peer Reviewer is expected to deliver two reports:
6. 1. A concise letter report of five or fewer pages with an executive summary of the findings. This concise report will be used by CCRIF to interact with insurance regulators, primary insurance companies and customers. Therefore, this letter report will include the primary findings of the review with emphasis on the positive ones.
   2. A report for internal use of CCRIF, where all the findings are reported at the level of detail necessary for the developer to implement any ameliorating actions in the successive release of the catastrophe risk model. This report will be shared at CCRIF’s discretion. This report should contain either an endorsement of the runoff model or, if the case, notes for further future improvements.

Terms of Referenceis attached below.

Before receiving any such material, the Peer Reviewer will be required to sign a Non-Disclosure Agreement with the model developer.

Required Qualifications and Relevant Experience:

• Ph.D. degree in Meteorology and/or Hydrology or an equivalent and suitable qualification.
• At least 5 years of experience in flood hazard and risk modeling.
• Knowledge of and experience on all the risk assessment components (hazard, exposure and vulnerability). Knowledge of probability and statistics.
• Excellent analytical skills.
• Good oral and written communication abilities in English.

Time Schedule and proposed Fees:

The assignment will start upon execution of the contract, and it is expected to need not more than 10 working days. The deliverables are due not later than October 25, 2024. Delays are justified if caused by the tardiness in receiving the requested information or results of the model runs by either the developer or CCRIF. 

CCRIF SPC now invites eligible Individual Consultants (“Consultants”) to indicate their interest in providing the Services. Interested Consultants should provide detailed information demonstrating that they have the required qualifications and relevant experience to perform the Services. Fees should be proposed as part of the Expression of Interest. Interested persons are required to declare conflicts of interest.

The shortlisting criteria is based on the above listed Required Qualifications and Relevant Experience. 

A Consultant will be selected in accordance with the Open Competitive Selection of Individual Consultants method set out in the CCRIF Procurement Regulations.

Further information can be obtained at the address below. Expressions of interest must be delivered by e-mail to the address by September 20 2024 at 23:45 Cayman Islands time.

CCRIF SPC

Subject Line –Peer Review Runoff Model 1.0
Attn: Isaac Anthony, Chief Executive Officer
Registered Office: c/o Sagicor Insurance Managers Ltd., 198 North Church Street
2nd Floor, Sagicor House, P.O. Box 1087, Grand Cayman, KY1-1102, Cayman Islands

Email: procurement@ccrif.org