adminA human resources consultancy services will soon be engaged to assist in the restructuring exercise.
IPEC, which is inviting tenders for the provision of consultancy services, said prospective bidders should be able to review the functionality of the commission’s existing organisation structure.
“In this respect, prospective tenders should conduct a comprehensive workload analysis to determine current work densities, undertake a job design and job description writing to define clear job parameters,” said the commission.
Based on the outcome of the above review and analysis, bidders should also be able to design an appropriate organisation structure aligned to the commission’s strategy and the new structure to incorporate legal, information technology, actuarial, and finance and administration.
The bidders should also be guided by processes that include the review and update workflows from the commissioner down to the lowest level in each department, develop a consolidated operational manual that IPEC staff must be trained on.
Through the restructuring exercise, the commission seeks to create a blue-print on its role in developing and safeguarding the industry as well as facilitating growth locally and internationally.
Meanwhile, IPEC in its third quarter report on short-term insurance players, said players were on course to meet the June deadline to partially raise at least $750 000 of the $1,5 million needed by the regulator.
The players are obliged to have fully met the minimum capital threshold by June next year.
IPEC said as at 30 September 2012, only six insurers reported capital levels that were below 50 percent of the minimum capital requirement which is $750 000.
This, the commission said, implies that barring any erosion of capital, the majority of the insurers were on course to comply with the June 2014 deadline.
In the 2013 national budget presentation, Finance Minister Tendai Biti raised capital levels for the sector to boost underwriting capacity and strengthening of the industry.
Online Reporter