Terms of Reference for Comprehensive Archiving and Management Policy
Terms of Reference for Comprehensive Archiving and Management Policy
Introduction and Background
Prime Life Insurance Limited is an insurance company, established in 1995 by Rwandan investors, a licensed life insurance company authorized by the National Bank of Rwanda (BNR). The Company is seeking a professional service provider to develop and implement a comprehensive Document Archiving and Management Policy that will standardize, organize, and secure the company's critical documentation across all departments.
Objective
The primary objective is to create a robust, systematic, and secure document archiving solution that ensures:
- Efficient document classification and storage
- Easy retrieval of documents
- Compliance with legal and regulatory requirements
- Protection of sensitive information
- Long-term preservation of company records
Scope of Work
Departmental Document Categories
The archive policy must comprehensively address filing and management of documents from the following departments:
Underwriting & Actuarial Department
- Customer proposals
- Insurance policy documents
- Risk assessment documents
- Underwriting decision records
- Customer communication files
- Medical reports,
- Reinsurance correspondences
- Files of data used for liability computation for a certain period
- Actuarial and financial conditions reports
- Other actuarial reports
Claims Department
- Claims applications
- Claims assessment documents
- Settlement records
- Correspondence related to claims
Finance Department
- Payment records
- Receipts and invoices
- Accounting ledgers and Journals
- Audit trail documentation
- Inter-bank transfers files
- Cheque books
- Automatic teller machine cards
- Bank statements
- Bank reconciliations
- Premiums and claims reconciliation
- File used from premium allocation (confidential Information)
- Policies used in finance department
- All Financial transaction documents
Archiving Requirements
The proposed solution must address:
- Digital and physical document storage methodologies
- Indexing and categorization system
- Access control and security protocols
- Retention periods for different document types
- Backup and disaster recovery mechanisms
- Compliance with data protection regulations
Deliverables
The selected service provider shall submit:
- Detailed document archiving and management policy
- Implementation roadmap
- Technical specifications for archiving system
- Training manual for staff
- Cost proposal for implementation
Qualification Requirements
Interested bidders must demonstrate:
- Proven experience in document management for financial services
- Understanding of regulatory compliance in insurance sector
- Technical capabilities in document archiving
Evaluation Criteria
Proposals will be evaluated based on:
- Comprehensive approach to document management
- Technological sophistication
- Cost-effectiveness
- Scalability and future-proofing (creating a system (archive way) that can grow and adapt with the company's changing needs
- Security and compliance features
Submission Guidelines
- Detailed technical proposal
- Comprehensive cost breakdown
- Service provider past project references
- Implementation timeline
- Proof of relevant certifications
Timeline
- Tender publication date: 12 Dec 2024
Deadline for proposal submission:
- Deadline: 23 Dec 2024 at 4:00 PM
- Address: the tender documents will be submitted to itclife@prime.rw
Contact information
- Email for inquiries: itclife@prime.rw
- Deadline for inquiries: 20 Dec 2024 at 12:00 PM
Done at Kigali on 11 Dec 2024
Chief Executive Officer
Innocent HABARUREMA
Prime Life Insurance Ltd
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