Women’s World Banking Issues Market Research RFP

Women’s World Banking Issues Market Research RFP

Women’s World Banking is seeking a research firm with expertise in behavioral economics and the identification of pain points in the customer engagement journey, qualitative research, and rapid prototype testing to collaborate on a new digital microinsurance initiative in Cambodia. This project leverages an innovative partnership among three entities: Women’s World Banking, a global insurance and health services provider, and a large mobile network operator in Cambodia. Our shared goal is to optimize the value proposition and ultimately, increase the usage of digital microinsurance, especially among low-income women.


Women’s World Banking is the global non-profit devoted to giving more low-income women access to the financial tools and resources essential to their security and prosperity. For more than 35 years we have worked with financial institutions to show them the benefit of investing in women as clients, and as leaders. We equip these institutions to meet women’s needs through authoritative market research, leadership training, sustainable financial products, and consumer education. Headquartered in New York, Women’s World Banking works with 40 institutions in 29 countries with a reach of 16 million women to create access to finance on a greater scale than ever before.


The three mentioned partners will collaborate as a team on the following work:

  • Solution Assessment: The team will conduct an in-depth audit of the current solution, including distribution channels, agent networks, and systems of engaging customers, especially women (customer journey). This includes behavioral and process mapping and qualitative research with customers and non-customers that maps the customer journey and identifies the pain points and areas of disengagement and barriers to active usage. It also includes interviews with the operational teams and insurance agents, and analysis of current premium and claims data.
  • Rapid Prototype Testing: The team will use the findings from the solution assessment to design and conduct tests of change over shorter intervals tailored to digital prototypes and variations to determine the most effective solutions. This could include testing of product optimizations, models of direct and indirect marketing to raise consumer awareness and usage, and the optimization of the digital interface and agent network. This may include engaging segments of customers in the testing to understand the effectiveness and the different levels of engagement by different segments of targeted users.
  • Strategic Advisory on Product Optimization: The team will use findings from the rapid testing to inform product optimization and marketing, improve the operating model, and provide advisory around the rollout of the enhanced insurance products and consumer education materials. The team will identify and elevate the key findings of mechanisms that drove difference and the implications for how to identify and subsequently integrate solution elements into product optimization.


The objective of the consultancy is to provide expertise in behavioral economics and identification of pain points in the customer engagement journey, qualitative research, and rapid prototype testing, in collaboration with Women’s World Banking, to drive the optimization of the value proposition and the increased usage of digital microinsurance.

The responsibilities of the firm may include:

  • Producing a detailed summary of regional players, including start-ups, and global best practices in the digital microinsurance customer experience and a summary of behavioral interventions relevant to this initiative;
    • This includes a summary of the relevant experiments that have worked and not worked, particularly for increasing usage of microinsurance and similar services to low-income women in Cambodia, regionally and internationally.
    • This also includes a summary of the innovative ways that learning occurred in this space.
  • Collaborating with Women’s World Banking and the local insurance and service provider to design and execute behavioral and process mapping and qualitative research for customers and agents, delivering a prioritization map of prototype testing options, and delivering rapid prototype testing in Cambodia; and •                Collaborating with Women’s World Banking to develop actionable recommendations to optimize the product design, marketing, agent network, operations and/or consumer education.
    • Sharing insights from the tests of change to different audiences in partnership with Women’s World Banking to identify the differentiating aspects of the approach and how greater sale and effective solutions may be identified in shorter periods.

Proposal due by February 24th, 2017 to:

Women’s World Banking
122 East 42nd Street, 42nd Floor
New York, NY 10168

Major women owned PR agencies include Kaplow PR and Alison Brod Communications.

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