1. Dheya’s Webinar Series
Mr. Sonjai Kumar
Actuarial Science and Risk Management

2. You can reach me through
Name- Sonjai Kumar
Mobile /

3. Agenda What Actuary do Job market for actuaries
Growth Potential in India
Career Progression
How to become an Actuary
Application area of Actuaries

4. What Actuary do in the industry?
Insurance
Life Insurance- Benefits paid on Death, Benefits paid on Survival
Health Insurance- Mediclaim, Cancer Care, Heart Care etc
General Insurance- Car Insurance, House Insurance, Jewelry insurance, mobile insurance
Who Price these products?
An Actuary is a person skilled to price above product.

5. Areas of Application Insurance Pensions Investment Risk Management

6. current job Market for Actuaries
Life Insurance Players 24
Non-Life- 29 ( 5 exclusively Health Insurance)
Reinsurer- Currently One- GIC
International Reinsurer have representative offices
Consultancy Firms
Own Consultancy
Back offices
Research
Academics
Other- Risk Management, Pension
Actuarial profession is demanding that even after retirement you get the job of consultant in any insurance Company currently.

7. Growth Potential

8. Insurance Penetration
Insurance penetration measured as a percentage of insurance premium to GDP rose from 2.71% in 2001 to 5.20% in 2009, then declined to 3.3% in , indicating the growth in insurance premium is lower than the growth in national GDP
World average of 6.3%,

9. Career Progression
This profession is comparatively better paid compared to other profession such as IT, Engineering etc
Pre-Qualification
Exam Progress
Experience
Post-Qualification
Post Qualification Experience
Management Skills

10. How to become an actuary (1)
Institute of Actuaries of India (IAI) is a Professional body (
First Student is to write entrance Exam
Then become Student Member of IAI
There are total 15 exams, split into 4 sections
Core Technical Stage- 9
Core Application Stage-3
Specialist Technical Stage-2
Specialist Application Stage-1
Fellowship seminar

11. How to become an actuary(2)
Study material can be purchased from IAI
Mostly Self study, Coaching recently started by IAI
Exams are held twice in a year, May/June & Oct/Nov
Any number of exams can be taken in any attempt in any order
However, It make sense to start taking in a order because of dependence of subjects
These are tough exams but depend on own capacity but highly rewarding
Membership can be taken after 12 class

12. What you need to become an actuary
Analytical taste
Good in Mathematics/Statistics
Qualification required:
12th passed, graduate, post graduate, Engineer, MBA, CA, ICWA etc with sound knowledge in Mathematics & Statistics
More successful people come from Mathematics, Statistics, Economics, Commerce, Engineering background

13. Other Routes to become an actuary
Exams can be written Institute and Faculty of Actuaries UK,
In UK and Australia these subjects are taught at University Level which has exemption facility from the profession
In India also there are few Private Management colleges teaches actuarial science but currently no exemption facility with profession

14. Other application
Risk profession is getting very much in demand specially after 2008 economic crisis, so actuaries can also work in risk management department
Apart from insurance companies, risk professionals can also work in other financial institutions such as Banks
Actuaries can also specialize in Risk Management as one of the main subject or doing other courses from professional bodies such as GARP
Pension Actuary- Certification is required for Gratuity, pension, leave encahasment, etc

15. Questions