Assessing Market Gaps and Strategic Opportunities Tender - 139255754

Procurement Summary

State: Delhi (NCT)

Summary: Assessing Market Gaps and Strategic Opportunities for Insurance in India

Deadline: 16 Apr 2026

Posting Date: 09 Apr 2026

Other Information

Notice Type: Tender

TOT Ref.No.: 139255754

Document Ref. No.: 0002021471

Financier: World Bank (WB)

Purchaser Ownership: Public

Document Fees: Refer Document

Tender Value: Refer Document

EMD: Refer Document

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Tender Details

Institutional Overview:The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is a global leader, investor, and advisor dedicated to reducing extreme poverty and boosting shared prosperity in developing member countries. IFC finances private sector investments, mobilizes capital in international financial markets, enhances clients' social and environmental sustainability, and provides advisory services to businesses and governments in the developing world, with a strong emphasis on the financial sector as a catalyst for development across all industries. Through its Financial Institutions Group (FIG), IFC supports financial inclusion, real‑economy financing, and capital mobilization, including in South Asia, by working with local financial institutions to develop innovative, inclusive, and sustainable financial solutionsAs part of its broader engagement in the financial sector, insurance is a focus area for IFC in India because of its critical role in promoting financial inclusion, resilience, and economic stability. IFC seeks a firm/ consortium of firms to conduct deep dives into specific insurance segments and to develop both a value proposition and a diagnostic toolkit to support future interventions. Project Background:India is poised to become one of the world-s largest insurance markets, with gross written premiums exceeding USD 140 billion and strong growth prospects driven by demographic scale, rising incomes, digital innovation, and heightened risk awareness following the COVID-19 pandemic. Alongside digital public infrastructure, policy measures -including the Union Budget 2025-26 decision to raise the foreign direct investment (FDI) cap to 100 percent - underscore the Government of India-s commitment to deepening and modernizing the sector.Despite this positive trajectory, insurance penetration in India remains low and uneven. Total insurance penetration stands at approximately 3.7 percent of GDP, well below the globa...

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