1. Opportunity in Insurance areas (Life, General, Health)
Sandip Goenka

2. Questions – Life Insurance
How many life Insurance Companies are registered in India?
What was the total premium collected by the Life Insurance Companies in India in FY17?
Based on the IPO share price of ICICI Prudential, what was the company valued at?
What are the main headlines currently in the Indian Life Insurance space?

3. Questions – General Insurance
How many General Insurance Companies are registered in India including standalone health Insurance Companies?
Who are the 2 latest entrants in the General insurance space in India?
Which company is the first General Insurance Company to get listed in India?

4. Questions – Health Insurance
Which was the first standalone health Insurance Company registered in India?
What is the key difference between the Health Insurance products sold by Life and Non-Life Insurance Companies?

5. Key areas of actuarial work
Pricing
Regulatory Reporting
Shareholder Reporting
Risk Management
Experience Analysis
Product development,
pricing, product management,
premium adjustments,
marketing and competition studies
Experience investigation of
Mortality, Lapses, Expenses,
Surrenders etc. and feedback into
Pricing and valuation
Modelling
Establishing estimates
for policyholder liabilities, guarantee
Reserves, Global Reserves etc.
Solvency Calculations &
Regulatory submissions
Risk Assessment, Measurement
and Reporting
Economic Capital Calculations
Capital Management
Asset Liability Management
Value of New Business Reporting
Embedded Value Reporting
Financial Analysis

6. Actuarial Employers Manufacturers of Insurance Products
Provides services to Insurance Companies
Provides reinsurance services to Insurance Companies
Provides support to companies operating outside India
Direct
Company
Consulting Firm
Reinsurer
KPO

7. Actuarial Employers – Direct Companies
Long term nature of business
Main risks are Mortality, Investment returns, Expenses and Lapses
Short term nature of business
Varied lines of business – Risks vary significantly
Main risk is Morbidity and Expenses
Life Insurance
Company
General Insurance
Company
Health Insurance
Company

8. Key Skills & Tools Skills Tools Prophet/Other actuarial tools
Analytical Skills
Modelling Skills
Financial Acumen
Communication Skills
Tools
Prophet/Other actuarial tools
MS Excel & Access
Emblem
SAS

9. My last 2 cents
Success occurs when
OPPORTUNITY
meets
PREPARATION