Terms of Reference (ToR)
Strategic Planning Consultant – Prime Life Insurance Ltd 2026–2030
Background
Prime Life Insurance Ltd is a licensed life insurance company operating in Rwanda. With a rapidly evolving market, changing customer expectations, regulatory shifts, and emerging technologies, the company seeks to develop a comprehensive Strategic Plan to guide its operations and growth from 2026 to 2030.
Objective
To engage a qualified strategic planning expert to lead the development of a forward-looking, actionable, and measurable 2026–2030 Strategic Plan that aligns with the company’s vision, regulatory requirements, market trends, and risk appetite.
Scope of Work
The Consultant will be responsible for:
- Reviewing the current 2022–2026 strategic plan, performance indicators, and outcomes.
- Conducting internal and external environmental scans (SWOT, PESTEL, competitor analysis).
- Engaging stakeholders (Board, Senior Management, Regulators, Customers, Partners) to gather input.
- Identifying key strategic priorities for 2026–2030 (e.g., digital transformation, customer acquisition, product innovation, ESG integration,).
- Drafting strategic goals, objectives, and KPIs in alignment with the company's mission and regulatory standards.
- Developing an implementation framework including timelines, resource needs, and monitoring mechanisms.
- Presenting the draft and final Strategic Plan to Executive Management and/or the Board.
Deliverables
- Inception Report (including work plan and methodology)
- Environmental Scan and Situational Analysis Report
- Stakeholder Engagement Summary Report
- Draft Strategic Plan 2026–2030
- Final Strategic Plan document (with Executive Summary)
- Presentation to Board or Executive Management
- Implementation Roadmap and Monitoring & Evaluation Framework
Duration and Timeline
The consultancy will last approximately [5 weeks], commencing in August 2025, with key milestones as follows:
- Week 1: Inception and document review
- Week 2: Environmental analysis and stakeholder consultations
- Week 3: Draft plan development
- Week 4: Review and validation
- Week 5: Finalization and presentation
Reporting Line
The Consultant will report to the Chief Executive Officer (CEO), with oversight by a designated Steering Committee.
Required Qualifications
- Advanced degree in Business Administration, Insurance, Economics, or related fields.
- At least 7–10 years of experience in strategic planning within the insurance services sector.
- Strong knowledge of insurance market trends, digital transformation, and risk-based frameworks.
- Excellent facilitation, research, and stakeholder engagement skills.
Submission Requirements (for RFP purposes)
Interested consultants or firms are invited to submit their proposals on ITClife@prime.rwnot later than 21st July 2025 by 5:00 pm.
Submissions should include the following:
- A Technical and Financial Proposal, outlining the approach, deliverables, and cost structure.
- CVs of key personnel involved in the project.
- A list of similar assignments completed, preferably within the insurance sector.
- A clear methodology and work plan detailing timelines and resource allocation.
- At least two references from previous clients or partners.
Done at Kigali, this 9th day of July, 2025
Innocent HABARUREMA
Chief Executive Officer
Prime Life Insurance