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Vision, Mission and Framework

Vision:

a)       To develop a Research team of competence and of quality matching with such world class actuarial teams in matured markets.

b)       To work as a common platform/ single window to initiate research project/s of common interest of actuarial community.

c)       To supplement MMIC on actuarial investigations.

d)       To encourage the actuarial/ research oriented community to undertake in-depth studies on emerging risks.

e)       To update the Indian actuarial community regarding research based findings of rest of the world.

f)        To collaborate with other actuarial forums across the profession to form an integrated network for research activities.

g)       To promote actuarial research activities across Universities, Organizations and individuals outside actuarial profession.

Mission:  To promote research to advance actuarial science/application

Framework:

Source of Research

Resource Generation

Delivery Model

Dissemination   

Identification of Projects by

Individuals, Institutions, Research Bodies

Individuals- Members of the profession as volunteers

Identifying and developing volunteer groups under each Advisory Groups, Insurers, re-insurers, Educational Bodies

Research Bodies- Both Inside and Outside India


•Institutions/ volunteer driven.

•Support from Research Team of IAI for preparing concept documents, data acquisition, guidance to individuals, and preparation of final reports.

•Where funding requirements exist, budgeting and evaluation by the Research team to obtain approval from the Council

•Conferences/ events hosted by IAI

•Advisory Groups of the Profession

•IAI  website

•The Actuary India magazine

•By Personal mails to members

•By respective Advisory Groups- Regular

•By the Research team-on regular basis

Strategic Research


Creation of core groups of qualified  and experienced actuaries for different functional areas:
• Life
•General
•Health
•Pensions & other benefits
•Investment
•ERM
Engaging the core groups /individuals /other eligible groups to undertake strategic research projects, possibly one in a year

•Research subjects, deliverables, timelines and budget requirements proposed by Advisory Groups and approved by the Council.

•To be taken up by the core groups

•Alternatively, research team call for bids from the Members/ Groups / Institutions

•Agreement with parties for delivering report , monitoring progress, receiving final draft and placing it before the respective Advisory Group for acceptance

•Placing the report in IAI website by the Research team

•Research  proposals on IAI website

•By mails to core groups/ individuals/ other eligible groups

•The Actuary India magazine

•Topics identified by the Advisory Groups

•Referred to General Council for approval and funding

Projects in collaboration


Identifying other research bodies/ centers in India and undertaking projects of common  subjects of interest, mainly related to Actuarial subjects of market interest

Targets research centers of good reputation, viz., IIS, IIMs

Research team helps to acquire data, guidance to deliverables, preparation of final reports

•Directly contacting institutions and professional bodies by the Research team

•In consultation with respective centers

University Links

•Identifying universities/ educational centers offering actuarial degree/ courses

•Long term projects/ research work leading to PhD degree

•Offering scholarship to small number of students

•Guidance and support from Research team for arranging experts in the profession as guide, arranging library, materials

•Directly contacting institutions and professional bodies by the Research team

•Research subject/s identified by Advisory groups and approved by the Council

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