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Advisory Group
Advisory Group on Examination
Has been re-constituted with effect from 20th April, 2018.  Updated on 20th April, 2018.

Members

1Souvik JashChairperson
2Ranabir GhoshSecretary
3Parmod Kumar AroraMember
4Sapna MalhotraMember
5Ajai Kr. TripathiMember

Functions:
  • Review examination infrastructure and ensure high level of integrity.
  • Explore broad basing, for example CT9 and CA2 examinations, using external alliances and technology, if necessary. 
  • Out of the box thinking on pool of examiners, creating staff actuary system and oversight of examinations delivery. 
  • Ensure question papers and marking, are of high standards within the laid down framework of the Education Policy. 
  • Conduct periodic meets of paper setters, examiners and markers with a view to ensuring that all stakeholders are on the same page with respect to what is expected of them.
  • To liaise and work along with UK Actuarial Profession as for as examination governance is concerned.
  • Conduction of enquiry into cases related to copying or any other form of malpractice, during or in connection with the examination.
  • To work in sync with Task Force on Education Strategy.
Executive Assistant: Ms. Gauri Kothari - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Advisory Group reports to the Finance and Admin Committee.

Advisory Group on Education

As constituted with effect from 21st January, 2017.  Updated on 24th January, 2017.

Members

1Akshay DhandChairperson
2Jatin AroraSecretary
3Souvik JashMember
4Khushwant Pahwa Member
5Ajay ChaturvediMember
6Shamit GuptaMember
7Sachin SaxenaMember

Functions:
  • Review of Education policy from time to time.
  • Conduct examination Coaching / Counseling for students.
  • Conduct Capacity building and Current issues Seminars/Conferences.
  • Other functions that may be assigned to this Advisory Group from time to time by the Education Committee.
Executive Assistant: Mr. Vinod Kumar - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Education Advisory Group shall report to the Education Committee.

The advisory group may have its meetings over conference call and in person meeting. However, for expense efficiency there cannot be more than two physical meetings in a financial year unless specifically approved by the President.

Advisory Group on Professionalism, Ethics & Conduct

As constituted and effective from 04th October, 2016.  Updated on 11th February, 2017.

Members

1Anil Kumar SinghChairperson
2Anuradha LalSecretary
3Heerak BasuMember
4Varun GuptaMember
5Kunj Behari MaheshwariMember
6D Sai SrinivasMember
7Pankaj TewariMember
   

Functions:
  • Inculcate high level of Professionalism amongst members through delivery mechanism that is effective,
  • Develop robust code of conduct, Actuarial Practice Standards and its compliance mechanism,
  • Encourage, motivate and incentivise compliance with code of conduct and Actuarial Practice Standards,
  • Advise on implementation of Disciplinary provisions within the framework of Actuaries Act 2006, that is just, fair and meets the ends of justice within the requirements of principles of public interest,
  • Run Professionalism courses that meet the requirements of the profession on its members to be ethically compliant at all times.
Executive Assistant: Mr. Yogesh Pandit, Compliance Officer - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Advisory Group reports to the Professionalism Committee.

Advisory Group on Life Insurance

As constituted and effective from 20th June, 2017, Updated on 21st June, 2017.

Members

1B N RangarajanChairperson
2Ramakant MalpaniSecretary
3Prithesh Kumar ChaubeyMember
4Vivek JalanMember
5N. M. GovardhanMember
6Bikash ChoudharyMember
7Udbhav GuptaMember
8Kailash MittalMember
9Kshitij SharmaMember
10Sunayana MMember
11Shobna SharmaMember

Functions:
  • To be responsible for addressing issues in respect of life insurance that are referred to it or the Group considers appropriate to address and advise the Council for appropriate action.
  • To be responsible for putting in place and reviewing Actuarial Practice standards (Guidance Notes) that are required for members of the institute who work in life insurance including Appointed Actuaries.
  • To design and carry out Continuing Professional Development Programmes including seminars and workshops for enhancement of skills of members
  • To be in know of and advise the institute on emerging business and industry issues affecting life insurance industry within and outside India.
  • To be in the know of and advise the Institute on useful technical and academic developments relating to life insurance in actuarial or other relevant fields, at local or international level.
  • The long-term aim of all the activities of the LIAG should be that the Institute be recognized as a trusted body that acts, within the terms of the Actuaries Act, 2006, in the interests of the industry and of the public
Executive Assistant: Mr. Vinod Kumar - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Advisory Group reports to the Education Committee and Professionalism Committee.

Advisory Group on General Insurance

Has been re-constituted with effect from 14th September, 2017. Updated on 16th September, 2017.

Members

1Biresh Kumar GiriChairperson
2Puneet Avinash SudanSecretary
3Adarsh AgarwalMember
4J V PrasadMember
5K K WadhwaMember
6Neel CheddaMember
7Priscilla SinhaMember
8Saket SinghalMember
9Vikas GargMember
10Yogesh AgarwalMember
   

Functions:
  • To advise on the issues in respect of General Insurance that are referred to it or the Group considers appropriate to address.
  • To review and advise on matetrs related to the Actuarial Practice Standards/ Guidance that are required for members of the Institute who work in General Insurance including Appointed Actuaries
  • To design and carry out Training and the Continuous Professional Development (CPD) programs including Seminars and Workshops for enhancement of skills of membersa nd studnets working in General Insurance area.
  • To be in the knowledge of and advise the Institute on emerging professional issues affecting the profession in the General Insurance area.
  • To advise on any regulatory or market issues that potentially may affect the status of the profession.
  • Any other work referred to the Group by the President and the Porfessionalism Committee form time to time.
Executive Assistant: Mr. Vinod Kumar Kuttierath - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Advisory Group reports to the Professionalism Committee.

Advisory Group on Health Care Insurance

As constituted and effective from 7th September, 2017, Updated on 8th September, 2017.

Members

1Vishwanath MahindraChairperson
2Raunak JhaSecretary
3Abhijit PalMember
4Irvinder Singh KohliMember
5Joydeep SahaMember
6Anuradha SriramMember
7Zee Chong KohMember
8Yogita AroraMember
9Sumit RamaniMember

Functions:
  • To be responsible for addressing issues in respect of Health Care Insurance that are referred to it or the Group considers appropriate to address and advise the President/Council for appropriate action.
  • To be responsible for putting in place and reviewing Actuarial Practice standards (Guidance Notes) that are required for members of the institute who work in Health Care Insurance.
  • To design and conduct the training programs in the area of Health & Care Insurance.
  • To design and carry out Continuing Professional Development Programs including seminars and workshops for enhancement of skills of members of the profession in Health Care Insurance.
  • To be in know of and advise the institute on emerging professional issues affecting Health Care Insurance industry within and outside India.
  • To be in know of and advise the institute on emerging business and industry issues affecting Health Care Insurance industry within and outside India.
  • To advise the Institute on any regulatory or market issues that potentially may affect the status of the profession.
Executive Assistant: Mr. Yogesh Pandit - responsible for all administrative support and is the nodal point of contact within office of the Institute.
Reporting: The Advisory Group reports to the Education Committee and Professionalism Committee.

Advisory Group on Pensions, Other Employee Benefits & Social Security

As constituted and effective from 22nd November, 2014, updated on 16th December, 2014.

Members

1 A D GuptaChairperson
2Kushwant PahwaSecretary
3Kulin PatelMember
4Preeti ChandrashekharMember
5Chitra JaisimhaMember
6K K WadhwaMember
7D K PanditMember

Functions:
  • Creating more visibility for the practice through continuous public engagement.
  • Strengthening Public Image for the Practice by setting communication standards and creating mechanisms for information sharing.
  • Recommending to the Council an appropriate Certificate of Practice Mechanism and Standardized Valuation Reporting Formats for Consulting Actuaries.
  • Supporting Consulting Actuaries in the context of information clarity and communication issues.
  • Building Quality by updating Course Syllabus and Course Material; and issuing Actuarial Practice Standards and Guidance Notes relevant to Pensions, Employee Benefits and Social Security.
  • Building capability by conducting Pensions, Employee Benefits and Social Security specific seminars / workshops.
  • Keeping abreast of matters relating to area of Pension, Employee Benefits and Social Security, with regards to development globally in general, at level of IAA in particular and advising the council and members appropriately.
  • Creating / finding new and more areas of work for consulting actuaries.
Documents: Functions, Deliverables and Success Measures
Executive Assistant: Mr. Yogesh Pandit - responsible for all administrative support and is the nodal point of contact within office of the Institute.
PEBSS@actuariesindia.org is a Email id created for this group. All the group members are requested to communicate the with each other through this email id.

The Work Plan and Timelines will be:
  • This AG will have at least one meeting per quarter either through concall of face to face.
  • This AG will Submit report on Quarterly Basis

Reporting: The Advisory Group reports to the Education Committee and Professionalism Committee.

Advisory Group on Sustainable Development and Microinsurance

As constituted and effective from 29th November, 2016, Updated on 29th November, 2016.

Members

1Bharat VenkataramaniChairperson
2Mayur AnkolekarSecretary
3Kamlesh GuptaMember
4Himanshu GargMember
5Malvika Nath Member
6Prasun Sarkar Member
7A. V. Karthikeyan Member
    

Functions:
  • To be responsible for addressing issues in respect of Sustainable Development and Microinsurance (SDMI) that are referred to it or the Group considers appropriate to address and advise the President/Council for appropriate action.
  • To contribute to knowledge and evidence in the matters of issues around sustainable development e.g., social insurance, climate change adaptation, public policy etc.
  • To contribute to knowledge and evidence in the matters of issues around Microinsurance e.g., low ticket insurance, agricultural insurance etc.
  • To design and carry out Continuing Professional Development Programs including seminars and workshops for enhancement of skills of members of the profession in SDMI.
  • To be in know of and advise the Institute on emerging professional issues affecting SDMI industry within and outside India.
  • To be in know of and advise the Institute on emerging business and industry issues affecting SDMI within and outside India.
  • To advise the Institute on any regulatory or market issues that potentially may affect the status of the profession.
Mr. Yogesh Pandit from IAI will act as an Executive Assistant to the Group.
Reporting: The Advisory Group reports to the External Affairs and Research Committee.

Advisory Group on Risk Management

As constituted and effective from 15th June, 2018, Updated on 19th June, 2018.

Members

1Bikash ChoudharyChairperson
2Sachin GargSecretary
3Sanchit MainiMember
4Varun GuptaMember
5Kunj Maheshwari Member
6Kailash Mittal Member
7Sonjai Kumar Member
8Hemant Mundhra Member
    

Scope of work:
  • Contributes to the strategic direction of the IAI and in particular advancing the risk management agenda for the profession.
  • Supports actuarial practice in risk management through the IAI’s education, CPD, introduction of guidance notes, public policy and research activities.
  • Identifies and promotes opportunities for members to work in risk management and enables discussion amongst members interested in risk management.
The Risk Management AG is responsible for:
  • To maintaining and developing professional education materials, including reviewing the course syllabus along with the Education advisory group/ Committee.
  • To developing risk management seminars/ workshops to support CERA certification for members.
  • To identifying CPD needs of members and developing CPD programs and opportunities in risk management.
  • To identifying new and emerging technical and practice needs of members in risk management.
  • To identifying potential issues for research and development.
  • To reviewing and developing relevant Actuarial Practice Standards and Guidance Notes.
  • To preparing public policy submissions on technical issues affecting risk management and on matters of broader public interest, including research activity.
  • To communicating on a regular basis with members (for example through the Actuary India magazine) on risk management issues and developments.
  • To developing and maintaining links with overseas actuarial bodies, the International Actuarial Association and relevant professional and industry bodies.
Mr. Vinod Kumar from IAI will act as an Executive Assistant to the Group.
Reporting: The RMAG shall report to the President.

Working Group on Wider Areas of Actuarial Science

As constituted and effective from 14th March, 2018, Updated on 15th March, 2018.

Members

1Mahidhara Davangere VChairperson
2Chinnaraja Chendur PandianMember
3Kumar Datta GVYHMember
4Subha NeelakantanMember
5Manoj Kumar Member
6Khushwant Pahwa Member
    

Objectives/ Functions:
  • To identify areas beyond traditional domain for actuaries to work in India.
  • To identify and create more employment opportunities for actuaries.
  • To contribute more literature and research towards new areas of actuarial application.
  • To help members working in non-traditional areas to gain CPD and other support from the Institute.
Ms. Binita Rautela from IAI will act as an Executive Assistant to the Group.
Reporting: The working group reports to the President.

Working Group on IFRS 17

As constituted and effective from 01st August, 2018, Updated on 01st August, 2018.

Members

1B N RangarajanChairperson
2Philip JacksonMember
3N VenkatkrishnaMember
4Kunj Behari MaheshwariMember
5Kshitij Sharma Member
6Dinesh Pant Member
7Rochak Garg Member
    

Objectives/ Functions:
  • To identify the role of actuaries in preparation of Financial statements by insurers in India under IFRS 17 and advising the Institute for way ahead.
  • To work on addressing the matters related to the actuarial profession on IFRS 17 reporting standards as applicable to insurers in India.
  • To be responsible for putting in place and reviewing relevant Actuarial Practice standards and Guidance Notes that are required for members of the institute who would be responsible for preparation of (parts of or whole of) financial statements for insurance companies including Appointed Actuaries.
  • To design and carry out Continuing Professional Development Programmes including seminars and workshops for enhancement of skills of members in this area.
  • To be in know of and advise the institute on emerging business and industry issues affecting the insurance industry, arising as a result of transition to a global IFRS 17standard.
  • To be in the know of and advise the Institute on useful technical and academic developments relating to IFRS 17.
  • Working/ liaising with other stakeholders.
  • Any other assignment or project assigned to the Group.
Mr. Vinod Kumar from IAI will act as an Executive Assistant to the Group.
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