IFoA India Conference 2024

Please note

All times are IST.

For group bookings of five people or more, there will be a 10% discount.

Fri 29 Nov 2024, 12:00 -
Sun 01 Dec 2024, 14:00 (IST)

Book your early bird ticket now for IFoA India Conference 2024. Offer available until 2 November.

Join us in New Delhi from 29 November to 1 December 2024 for the first-ever IFoA India Conference. This is your opportunity to engage with cutting-edge topics, including AI, climate risk and more, all within the theme ‘Actuaries of the Future’. Don't miss this chance to connect with peers and leaders in the field. Book your spot now.

Schedule

Activity Time Details
Registration and lunch 13:00 - 14:00 Registration and lunch
Chair’s welcome | Hybrid 14:00 - 14:15 Chair’s welcome – Akshay Dhand, Canara HSBC Life
Keynote session | Hybrid 14:15 - 15:15 The India story Read more

Speaker: Dr Arvind Virmani, NITI Aayog

Plenary 1 | Hybrid 15:15 - 16:00 IFoA town hall Read more

An opportunity to put your questions to the IFoA President.

Speaker: Kartina Tahir Thomson, IFoA President

IAI Presidential address 16:00 - 16:15 Speaker Preeti Chandrashekhar, IAI President
Committee recognition ceremony 16:15 - 16:30 Committee recognition ceremony and Hackathon announcement Read more

Speaker: Kartina Tahir Thomson, IFoA President

Afternoon refreshments and exhibition 16:30 - 17:00 Afternoon refreshments and exhibition
Plenary 2 | Hybrid 17:00 - 18:00 Actuary as a leader – unveiling actuarial leadership: skills, strategies, and success stories Read more

Join us for an insightful panel discussion that explores the evolving role of actuaries as leaders beyond their traditional technical expertise. This session will delve into the diverse leadership positions actuaries are now embracing and the essential skillsets needed to succeed in these roles.

Drawing from the panel’s extensive leadership experience, their journeys and strategies will offer invaluable insights to all attendees. The discussion will focus on the actuary as a leader, aiming to inspire and equip attendees with practical takeaways from the experiences of distinguished actuarial leaders.

Moderator: Anurag Rastogi, IAI Council Member

Panel: Hiten Kothari, HDFC ERGO General Insurance, Samit Upadhyay, Tata AIA, Sunil Sharma, RGA and Hariharan Mani, PwC AIMS

Free time 18:00 - 19:00 Free time
Drinks reception 19:00 - 20:00 Drinks reception
Dinner and networking 20:00 - 00:00 Dinner and networking
Activity Time Details
Women’s networking breakfast 08:30 - 09:30 Women’s networking breakfast Read more

As we gather for the inaugural IFoA India Conference, we invite you to join us for our women’s networking breakfast.

This session offers a unique opportunity to connect with fellow professionals in the actuarial field, sharing experiences and insights in a setting that reflects the future-forward theme of our conference.

Held in the vibrant city of New Delhi, this exciting new networking opportunity will not only create meaningful professional connections, but also highlight the vital role women play in shaping the future of the actuarial profession in India and beyond.

Registration 09:15 - 09:45 Registration
Plenary 3 | Hybrid 09:45 - 10:45 Understanding the shifting sands: globally evolving insurance regulations Read more

A discussion on the recent and upcoming changes in insurance regulations. The session aims to give insights on how varying international regulatory frameworks are adapting to new risks, new reporting norms, technological innovations, and economic conditions.

The aim is to highlight the implications of these regulatory shifts for insurers, policyholders, and the overall financial system. This discussion will provide valuable insights into how these evolving regulations impact industry practices and compliance challenges.

It will offer a comprehensive view of the evolving regulatory landscape, helping you navigate and anticipate future developments in the insurance sector.

Moderator: Akshay Dhand, Canara

Panel: P.K Arora, IRDAI, Prechhya Mathema, Actuarial Society of Nepal, Dr Dipesh Shah and Shri Praveen Trivedi, International Financial Services Centres Authority, and Mr. Rajan Nirubasingham, Insurance Regulatory Commission of Sri Lanka

Keynote session | Hybrid 10:45 - 11:45 The unconventional actuary | Andrew D Smith Read more

Actuarial skills are increasingly in demand from industries far removed from actuaries’ traditional domain of financial services. Andrew D Smith describes some extraordinary actuarial assignments from his own career and those of his students.

Speaker: Andrew D Smith, University College Dublin

Morning refreshments and exhibition 11:45 - 12:15 Morning refreshments and exhibition
Plenary 4 | Hybrid 12:15 - 13:15 Transforming BFSI: The Impact of Artificial Intelligence on Banking, Financial Services, and Insurance Read more

Join us for an engaging session focused on the expanding role of artificial intelligence in the banking and financial services sector. We’ll explore the diverse applications of AI and discuss its potential for future growth.

The discussion will cover the essential skillsets and strategies for successfully implementing AI solutions, and the challenges that come with it. With the panel’s expertise in this area, their insights will be invaluable to the conversation. This session will equip you with a deeper understanding of how AI is transforming the landscape of banking and financial services.

Moderator: Atreyee Bhattacharyya, Star Health and Allied Insurance

Panel: Debashish Banerjee, Deloitte, Mitali Chatterjee, Swiss Re, Namit Chopra, EXL, Dr. Sunil Kumar, SAM Corporate

Lunch and exhibition 13:15 - 14:30 Lunch and exhibition
Workshop A1 14:30 - 15:15 Understanding AI: eXplainable AI (XAI) techniques in practice Read more

This session will provide a snapshot of how AI and machine learning are transforming actuarial work, with a focus on interpretable models. The presentation will delve into how Shapley values, drawn from game theory, enhance machine learning model interpretability without compromising accuracy – a crucial factor in the regulated insurance sector and hence the importance of explainable AI.

Key actuarial functions such as pricing and fraud detection will also be discussed, alongside challenges like data imbalance and model selection, offering practical insights from the Ayushman Bharat experience, the world’s largest group health insurance scheme.

Speakers: Satya Sai Mudigonda (Adjunct Professor, Sri Sathya Sai Institute of Higher Learning), Karol Gawlowski (Chair, IFoA Actuarial Data Science Working Party), and
Dr Rohan Yashraj Gupta (Visiting Faculty, Sri Sathya Sai Institute of Higher Learning)

Workshop A2 14:30 - 15:15 From vulnerability to strength: addressing climate risks head-on Read more

Climate risk represents a multifaceted obstacle for insurers, impacting their operations, financial performance, and strategy. Addressing these challenges requires proactive measures, collaboration, and continuous adaptation to ensure the resilience and sustainability of the insurance industry in a changing climate.

In this session, we intend to discuss some aspects of climate risk and our response to it, including:

  • potential financial impacts on insurance portfolios
  • methodologies for climate risk assessment
  • future climate-related regulatory scenario
  • development of insurance products incentivising climate-resilient behaviours
  • best practices for conducting scenario analysis and stress testing
  • collaboration with other stakeholders for standardising climate risk scenarios
  • challenges and opportunities in integrating climate-related data sources into actuarial models
  • regulatory changes brought about globally in this respect
  • board and senior management’s role in addressing this risk
  • emerging technologies’ role in transforming the way actuaries assess and manage climate risks

This session will be a live presentation by Saigeeta Bhargava and Amit Singh. Saigeeta leads the actuarial practice at PwC India. Amit has developed climate risk scenario analysis and stress testing frameworks for multiple banks and is certified in Sustainability and Climate Risk (SCR) by GARP.

This session might pique the interest of all actuaries who aim to develop strategies to address climate risks, build resilience, and transition towards a sustainable future.

Speakers: Saigeeta Bhargava FIA FIAI and Amit Singh, PwC

Workshop A3 14:30 - 15:15 Asset modelling in presence of liabilities Read more

Actuaries can model liability cashflows, analyse these numbers, and report on them. However, the role of assets is not seen at this level, or the analysis generally excludes asset modelling and assets analysis.

In this session we plan to cover the niche area within actuarial services around the role of assets and how these assets are modelled depending upon the type of liability being modelled. The session aims to cover:

  • types of assets and their features
  • modelling of assets in presence of liabilities, including different asset assumptions
  • BS and IS in presence of assets
  • how to bring judgement around asset allocation for liabilities
  • rules around asset allocation
  • bringing reinvestment into the picture and associated reinvestment strategy

The session is intended to be delivered in person including a high-level overview of the role of assets within actuarial modelling and valuation. This will be a new area for everyone, as very few companies offer asset modelling now.

Speakers: Monika Goyal and Adarsh Goenka, Accenture

Workshop A4 14:30 - 15:15 Evolution of offshoring actuarial service model in India: the journey so far and future opportunities Read more

The offshoring model in India has experienced a remarkable evolution, particularly in the realm of knowledge-based services, including the actuarial domain.

Initially, India’s offshoring industry primarily focused on low-end tasks. But as the country’s workforce showcased its proficiency and adaptability, the offshoring model expanded to encompass a wide range of knowledge-based services, including actuarial services. This shift was driven by factors such as the availability of a large pool of highly-educated professionals, a robust education system, and a strong foundation in mathematics and statistics.

Indian service providers quickly recognised the potential of the actuarial domain and began offering specialised actuarial services to global clients. These services include actuarial modelling, risk assessment, pricing and product development, reserving, and regulatory compliance. The actuarial talent in India has demonstrated expertise in various sectors, including insurance, pensions, and financial services.

With the integration of automation, data analytics, and machine learning, Indian service providers have been able to streamline actuarial calculations, improve accuracy, and deliver faster insights to clients. This has resulted in increased efficiency and cost savings for organisations seeking actuarial support.

Today, India stands as a preferred destination for organisations seeking high-quality, cost-effective actuarial services. The country’s offshoring model has evolved into a mature and sophisticated industry, offering a wide range of actuarial services across various sectors. With a focus on knowledge, innovation, and technological advancements, India’s offshoring model in the actuarial domain continues to thrive and contribute to the global actuarial community.

Speakers: Bani Dhir and Rajiv Sharma, Mercer

Workshop B1 15:30 - 16:15 Speak. Inspire. Transform. Read more

Leadership expert John C Maxwell says: “A leader is someone who knows the way, goes the way and shows the way.”

We actuaries know our calculations and can go places with them. But when it comes to effectively showing and communicating them, we could perhaps do better.

Not having this one trait often hinders us from being the leaders we can be. It hinders us from inspiring others, innovating, and making transformations.

Like our actuarial control cycle, any transformation goes through a cycle that involves effective communication and inspires the audience to make a transformation.

This workshop-type session aims to be interactive and address:

  • why we aren’t naturally good at communicating
  • the great advantages of being a good communicator
  • how can one start and progress on the journey to being a good communicator?
  • why effective communication is a prerequisite to effective leadership
  • how to inspire your audience and drive transformation

The target audience for this session is all attendees, including senior and accomplished leaders.

Speaker: Gurpreet Babbar, Accenture

Workshop B2 15:30 - 16:15 Discover the future of banking with actuarial expertise Read more

We’re excited to invite you to a session on the evolving role of actuaries in the banking industry. With regulators encouraging the use of stronger risk modelling, management, and governance, the need for actuarial skills across the banking sector is growing.

Here’s what you can look forward to:

The banking actuarial path: Learn about the IFoA’s route to becoming a banking actuary and see how it can take your career to the next level.

Bridging worlds: We’ll discuss how the actuarial skills from insurance can seamlessly transition into banking, for example underwriting, reserving, capital, and asset-liability management.

Roles in a bank: Get a clear picture of the crucial roles actuaries play in banks, from chief risk officer to heads and members of risk functions. Discover how actuaries contribute to credit risk modelling (for example IFRS9, Basel II), management and reporting, asset-liability management, risk management, pricing and trading of derivative products, capital modelling, climate risk modelling, and enterprise risk modelling.

Models used in the banking industry are noticeably advanced and intellectually stimulating. This session would be useful for senior actuaries looking forward to widening their horizon and junior students willing to explore wider opportunities.

Speakers: Riju Tandon, Pradyumn Bharani and Mrigank Agarwal, PwC

Workshop B3 15:30 - 16:15 Overview of India’s retirement social security landscape: opportunities and challenges from an actuarial perspective Read more

It is widely thought that India’s ‘Code on Social Security, 2020’ will soon be notified. This introduces some significant expansion to the retirement and other social security benefits to the working population, especially for unorganised and gig/platform workers. There are extensive actuarial, financing, design, and administrative considerations in the social security programmes in India.

This session will start by providing a brief overview of India’s retirement social security landscape, covering the wide range of programmes for government employees, private sector workers, and the unorganised sector.

The session will then focus on the actuarial considerations and recent opportunities for one of the social security schemes, namely the Employees’ Pension Scheme 1995 (EPS1995). In recent times, the EPS1995 has declared significant deficits but is potentially cashflow sustainable for several decades given the younger demographic of India.

At the same time, a 2022 Supreme Court of India judgement has made the government ask about the future sustainability of the scheme, if saddled by significant additional defined benefit burden. The Code on Social Security also requires the government to design a scheme suitable to include up to a further 40 crore (400 million) unorganised workers into the scheme. How can this be achieved?

The session will shed light on a topic not very well understood by the wider actuarial community in India, and show where there is great potential for our profession to work with the government in a more tangible manner.

Speakers: Kulin Patel and Jayesh Pandit, K.A Pandit

Workshop B4 15:30 - 16:15 Structured reinsurance: empowering industry growth and strengthening risk management strategies Read more

The insurance industry is constantly evolving and with the increasing complexity of risks, there is a growing need for structured reinsurance solutions.

Traditionally, reinsurance acts as a catalyst for industry expansion by providing insurers with the necessary financial support and risk mitigation tools. Through structured reinsurance solutions, insurers can tailor their products more effectively and efficiently to ensure comprehensive protection while achieving the required financial KPIs.

There are a few solutions widely executed by insurers in Asia to enhance their new product launches and to manage their sizeable enforce portfolios efficiently. Three common structured reinsurance solutions are:

  • upfront reinsurance commissions on investment linked products
  • mass lapse reinsurance solution
  • asset coinsurance reinsurance solution

In this session, Wilson Lai of Gallagher Re will share an overview of the solutions listed above, as well as client motivations, key considerations, and how these solutions are applicable to the L&H insurers in India, based on experience executing them.

Speaker: Wilson Lai, Gallagher Re

Afternoon refreshments and exhibition 16:15 - 16:45 Afternoon refreshments and exhibition
Workshop C1 16:45 - 17:30 Navigating the IFRS 17 Terrain: Strategies for Success Read more

This session will focus on post-implementation challenges and provide clarity on the "HOW" of IFRS 17 requirements, preparing attendees for IndAS 117 in India. On one hand, the focus will be on actionable strategies for insurers to develop their post-IFRS 17 roadmap, prioritizing technology-driven solutions and refining actuarial methods.

On the other hand, it will emphasize the importance of strengthening risk management and fostering stakeholder engagement for long-term sustainability. Both approaches are critical for successfully navigating the evolving regulatory landscapes.

Speakers: Suruchi Bhargava, K.A Pandit and Nikhil Dodhia, Zamara

Workshop C2 16:45 - 17:30 One move, multiple implications Read more

2024 has seen a significant overhaul of regulations by the Insurance Regulatory and Development Authority of India (IRDAI).

This transformation is being hailed as a major shift that touches upon various domains, including:

  • protection of policyholder rights
  • obligations towards the rural and social sectors
  • establishment of an electronic insurance marketplace
  • restructuring of governance of insurance products
  • creation of a favourable environment for the growth and expansion of the reinsurance sector

It also focuses on ensuring sound and responsive management practices for effective discharge of actuarial, finance, and investment function.

The session will provide an overview of the Indian insurance sector’s current status and will delve into the opportunities and challenges that arise as part of the changing regulatory landscape.

Speakers: Aarti Aggarwal and Abhinav Mishra, EY

Workshop C3 16:45 - 17:30 Forecasting underwriting cycle: a wild goose chase or a quantum leap? Read more

The insurance underwriting cycle is important from a financial stability perspective, as insurers are more prone to face underwriting losses during a soft market. The forecasting underwriting cycle could help insurers improve profit. But there are some pertinent questions that need to be addressed, including:

  • are the underwriting cycles real and explainable?
  • even if they exist, can they at all be objectified through a forecasting model?
  • can an auto-regression time series model be appropriate to explain the documented cyclicality?
  • are there any models, other than the auto regressive model, that capture the cycle more appropriately?
  • which variables can be used to quantify this insurance phenomenon?

This interactive presentation will attempt to address these questions, discuss some documented techniques to forecast the underwriting cycle, and assess the impact of unusual (catastrophic) events.

All in all, the session will make a comparative assessment to see if it is worth trying to forecast the underwriting cycle. How can we navigate the challenges and successfully forecast the cycle? This will help insurers take proactive actions to deal with the underwriting cycle.

This will be a high-level session with a touch of technical application. It should be of interest to actuaries at all levels with an interest in general insurance market dynamics and a knack for statistical modelling.

Speaker: Dhrubo Banerjee, Swiss Re

Workshop C4 16:45 - 17:30 Understanding the fundamentals of risk-based capital frameworks and appreciating the differences in RBC regimes across countries Read more

Risk-based capital (RBC) has been the recent buzzword in the Indian industry. The shift from traditional factor-based solvency reporting to a sophisticated RBC approach requires a deeper understanding of an entity’s risk profile. That in turn influences a different perspective on capital requirements and business strategy in alignment with risk appetite and tolerance statements.

The presentation aims to delve into the evolving practices of the RBC framework in India and explore how other regions, such as Sri Lanka, Mauritius, Singapore, and the Middle East, have adopted and implemented these frameworks. The session will cover the fundamental principles of RBC frameworks and compare the different philosophies and approaches employed by the other regions.

The session will help attendees understand the calibration of various risks such as market risk, credit risk, insurance risk, and operational risk, and how these risks are quantitatively assessed. The session will cover how correlation of risks and diversification is allowed for, and offer a glimpse of different regulatory reporting requirements and templates.

Analysing the implementation strategies and successes of insurers in different regions, and the challenges they face, can provide valuable lessons and best practices. By doing so, insurers in India can better navigate the complexities of RBC implementation, ensuring a more robust and resilient financial framework.

Speakers: Jinal Pandit, K.A Pandit and Ramaswamy Lakshmi, Ageas Federal Life Insurance

Free time 17:30 - 18:30 Free time
Student showcase 18:00 - 19:00 Student showcase Read more

The student showcase is your chance to connect directly with potential employers and discover exactly what they’re looking for in future hires. Don’t miss this unique opportunity to network, stand out, and gain valuable insights that could jumpstart your career.

Drinks reception 18:30 - 20:00 Drinks reception
Dinner 20:00 - 00:00 Dinner
Activity Time Details
Registration 09:30 - 09:45 Registration
Plenary 5 | Hybrid 09:45 - 10:45 The role of actuaries in driving innovation in insurtech: challenges, opportunities, and future directions Read more

Join us for a dynamic panel discussion on the evolution of the insurtech industry, focusing on the opportunities and challenges faced by actuaries. We will explore the latest growth trends in insurtech and how actuaries are at the forefront of driving this transformation.

The conversation will feature practical examples of insurtech in action and its future potential. With the panel’s expertise in this field, their insights will be invaluable to the discussion. This session will provide you with a deeper understanding of actuarial involvement in insurtech, the industry’s growth prospects, and the challenges ahead.

Moderator: Prerak Sethi, India Insurtech Association

Panel: Nikhil Verma, LivWel, Sumit Ramani, Protect Me Well, KV Dipu, Bajaj General Insurance, and Sandip Goenka, Acko Life 

Keynote session | Hybrid 10:45 - 11:45 Addressing the challenges and new dimensions in the insurance market Read more

Speaker: John Crooks, RSA

In this session, John will share his views on some of the key challenges in the general insurance market today and in the future. He will set out his thoughts on opportunities for actuaries in light of these issues, and consider how colleagues in India can help and make the most of these opportunities.

Morning refreshments and exhibition 11:45 - 12:15 Morning refreshments and exhibition
Plenary 6 | Hybrid 12:15 - 13:15 Professional skills – ethics, standards, and excellence: upholding professionalism in actuarial practice Read more

Join us for a panel discussion on the role of professionalism in actuarial work. This session will feature case studies that demonstrate how upholding high standards of professionalism impacts the daily work of actuaries.

Participants will gain a deeper understanding of the importance of professionalism in their work and decision-making. The panel’s insights will be invaluable to this discussion, providing a wealth of experience and knowledge for all attendees.

Moderator: Kulin Patel, KA Pandit

Panel: Preeti Chandrashekhar, President, IAI and Kalpana Shah, Immediate Past-President, IFoA

Lunch and exhibition 13:15 - 14:30 Lunch and exhibition
Workshop D1 14:30 - 15:15 An examination of the effects of air pollution on mortality rates in India Read more

A widely quoted study by the Energy Policy Institute of the University of Chicago (EPIC) suggests that air pollution shortens life expectancy in India by almost six years on average. In Delhi the reduction in average life expectancy is estimated to be 10 years.

In this presentation we will look at:

  • how air pollution increases mortality, including the types of illnesses it causes and the typical ages of people affected
  • current cost of air pollution and the cost of reducing it
  • how quickly mortality rates may improve (or worsen) if pollution reduces (or increases)
  • how India compares to other countries
  • the approach used to estimate the impact of pollution on life expectancy, including the key assumptions on which it was based
  • what is being done to reduce India’s pollution levels, the pollution outlook, and the estimated future impacts on life expectancy

Speakers: Saloni Rehani, and Tim Andrews, Chubb Life

Workshop D2 14:30 - 15:15 Climate change and the role of the actuary in guiding the financial sector Read more

Actuaries have been thinking about how climate change affects the financial sector since at least 2017, when the IFoA issued a risk alert on this subject. Since then, decarbonisation and the setting of net zero targets has become a key feature for industry and the financial sector alike, supported by advances in carbon accounting and other climate risk evaluation techniques.

Hetal Patel is Head of Climate Investment Risk at Phoenix Group and Chair of PCAF’s UK Association. In this session, he will explain how actuaries have an important role to play in helping the financial sector to:

  • manage the risks associated with climate change
  • exploit the opportunities associated with the net zero transition

He will share the UK experience in this area, and:

  • explore net zero and the context for climate-related financial disclosures and how this applies to the financial sector
  • introduce the Partnership for Carbon Accounting Financials (PCAF), which promotes harmonised methods for evaluation and disclosure of greenhouse gas emissions inventory for financial instruments, and its key methodologies
  • look at the emergence of other climate metrics and how they are used in a portfolio context
  • delve into what actuaries need to know as they advise the financial sector

This will be delivered in person and is a ‘high-level’ session. It should be of interest to all actuaries – both in terms of fields of specialism and levels of seniority.

Speaker: Hetal Patel, Phoenix Group

Workshop D3 14:30 - 15:15 Periodic payment orders and the uncertainty around them – update from the IFoA PPO Working Party. Read more

Periodic payment orders (PPOs) are a way of compensating an injured insured for any resulting reduction in their quality of life and covering the cost of care. They’re an alternative to lump sum settlements. While the concept primarily applies in the UK, the aim of this talk is to impart knowledge about this kind of claim settlement, its peculiarities, and the uncertainties it brings.

We will cover the dependency of PPO propensity on Ogden rates used for valuing lump sum settlements, and talk about the Annual Survey of Hours and Earnings, a key assumption in modelling PPOs. Using the annual survey results of the IFoA’s PPO Working Party, we will bring in trends in the way PPOs are awarded and valued.

We will draw parallels to how injury claims are settled in the Indian market and examine if there is a need to evaluate the feasibility of having PPOs here, discussing the pros and cons.

This will be a technical knowledge-sharing session and will be hybrid, with one working party member attending the conference in person and another online.

Speakers: Tvisha Gupta, RSA, Justin Thomas, Acorn Insurance, and Chris Francis, WTW

Plenary 7 | Hybrid 15:30 - 16:30 Employability: bridging the skill gap Read more

This panel discussion will explore critical issues related to the preparation and integration of new actuarial graduates into the workforce, focusing on the skills gap and evolving industry needs.

Panellists will begin by identifying the top technical and soft skills that are currently required in new graduates. The discussion will then pivot to the role of technology in the actuarial profession, emphasizing the skills necessary to keep pace with technological advancements.

In addition, the panel will examine effective initiatives for bridging the skills gap, with a focus on how academia can contribute to better-preparing students for industry demands, particularly in ethical decision-making and risk management.

Moderator: Swati Umre, EY

Panel: Anshuman Anand, Swiss Re, Kiran Yadav, Canara HSBC Life, Akash Rughani, Institute of Actuarial and Quantitative Studies, Biju Toms Christ University, and Kartina Tahir Thomson, IFoA President

Closing remarks | Hybrid 16:30 - 16:45 Closing remarks Read more

Speaker: Akshay Dhand, Canara HSBC Life

Featured Speakers

John is the Chief Actuary at RSA Insurance Group and is a member of the RSA executive team.

He joined RSA as a Trainee Actuary on the graduate programme just over 20 years ago and qualified as a Fellow of the Institute and Faculty of Actuaries in 2008. Throughout his career, John has worked across various departments and in many countries across the globe, always with a focus on general insurance. From 2004-2009 he specialised in pricing and underwriting across various personal and commercial lines products, with a focus mainly on the UK personal lines side.

Between 2009 and 2013, he moved into a corporate role and specialised in capital modelling. In 2013 John moved into the reserving team. He became the Group Reserving Manager with responsibilities for overseeing much of the reserving work throughout RSA Group globally. This gave him the chance to travel and work extensively with many different actuarial teams across Europe, Asia and North and South America.

John worked closely with the RSA India team since its inception in 2007 and in December 2015, he was appointed to lead the Indian team. He still leads the RSA India team today as a Board member of our Indian company. He supports and guides over 200 of our colleagues in India for the work they do throughout our business.

In early 2018, John moved to Toronto after being appointed as the RSA Canada Chief Actuary. He held this position until February 2020 when he moved back to London upon being appointed as the RSA Group Chief Actuary.

Intact acquired RSA Group in June 2021 and upon acquisition, John continued in the role of Chief Actuary for Intact’s acquired UK & International business from RSA, the role he is very proud to hold today.

Mr K V Dipu, as Senior President at Bajaj Allianz General Insurance Company, a joint venture of the Bajaj Group & Allianz, has been instrumental in driving digital transformation, innovation, and industry leadership. His leadership extends to a team of over 1,400 professionals, serving a customer base of more than 140 million across over 1,000 locations, a testament to his ability to manage at scale.

Mr Dipu’s accomplishments include receiving more than 125 country, continental, and global industry awards and garnering wide press coverage, solidifying his international recognition. Bajaj Allianz GIC has been awarded ‘Digital Insurer of the Year’ three times across Asia.

A management graduate from the Indian Institute of Management Lucknow (IIM Lucknow), Mr Dipu joined Bajaj Allianz GIC in 2016 after a stellar career of nearly 20 years with GE Capital. He is a certified Lean Six Sigma black belt and a CII National Committee on Financial Inclusion and FinTech member.

Mr Dipu is a recognized thought leader in the industry, sharing his insights on strategy, innovation, leadership, and digital transformation at various domestic and global industry forums. His expertise is not only recognised but also demonstrated through his extensive contributions to various publications, with over 225 published articles and his numerous speaking engagements, having addressed audiences in five continents at over 450 conferences.

Kulin is an industry expert with almost 30 years’ of experience in the global pension and insurance sector. Through his extensive career he has held various technical and leadership roles at some of the largest global pension consultancies across UK, North America and Asia. He has also recently been appointed as the next Executive Director of Abelica Global, a global network of around 30 actuarial and risk consultancies.

At various stages through his career, Kulin has had experience across the full spectrum: actuarial, reporting, product development, business strategy, technology, regulatory, administration, employee communications and trust governance consulting.

Akash Rughani has been a part of the financial world for more than a decade and has an excellent experience in the Risk Consulting and Educational training domain.

Akash, after completing his Chartered Accountancy in 2010 securing a 34th Rank All India and FRM by Global Association Risk Professionals (GARP), entered the field of Risk consulting and Investment Advisory domain. He helped various companies in their fund-raising journey via debt syndication and equity funding. In the risk consulting domain, he advised India’s Largest Private Sector General Insurance Company in the field of process excellence and redesign to obtain operational efficiency

Akash, simultaneously Co-founded a leading Actuarial and Analytics Training Company in 2013. Within 10+ of mentoring students, Akash has mentored more than 5000 students in this domain. He has also tied up with various colleges in Mumbai, training the students on Data Analytics.

It has since been a journey of firsts for Akash and growing his team of educational enthusiasts – the latest being the setting up of the Institute of Actuarial and Quantitative Studies (IAQS) in association with Patkar-Varde College affiliated with the University of Mumbai in 2019, a first of its kind initiative enabling students across domains to pursue the Actuarial Science and Quantitative Finance Programs. In 2020, it became the first program to be accredited by the IFoA (UK) for exemptions for up to 6 actuarial exams in India.

Immediate Past President of the IFoA

Kalpana brings 30 years of business experience in the insurance and investment industry. She was longstanding Group Chief Actuary and Partner at Hiscox until 2016. She is now one of a handful of female Chairs in the insurance industry, a non-executive director of several organisations and a member of the Capacity Transfer Panel for Lloyd’s of London.

She is also a liveryman of the Worshipful Company of Insurers and member of Court of the Worshipful Company of Actuaries. She has Chaired and contributed to committees for the IFoA, Bank of England, Lloyd's of London and the Bermuda Monetary Authority. In the early stages of the COVID-19 pandemic, Kalpana headed the first voluntary team of actuaries helping the UK’s National Health Service with emergency analytics and planning.

Kalpana is a regular judge for the Women in Insurance Awards and a frequent speaker on insurance and diversity related topics. Over the years she has been recognised for her work by organisations including the Institute of Directors, Financial Times, Cranfield University, Insurance Insider and Brummell Magazine.

Andrew D Smith spent the first 30 years of his career with a large consulting firm, applying actuarial skills to solve a wide range of business issues in diverse fields across more than 20 countries. He is well-known for his actuarial research in stochastic modelling. For the past seven years, Andrew has taught data science at University College Dublin, where he directs the Actuarial MSc programme. Andrew represented Ireland as team leader for the International Mathematical Olympiad in 2020 and 2024.

IFoA President

Kartina brings 25 years of diverse actuarial, risk management, governance, and regulatory experience. Her prior experience includes a Big-Four audit firm, the Bank of England, global insurance carriers, and brokers. Her most recent executive role is with WTW, the largest global insurance consultancy, as a Senior Director where she leads the risk, regulation, and governance proposition. Kartina also has non-executive experience, most recently for an FTSE-listed company and a fintech firm.

As a subject matter expert in the UK and European insurance regulation, she advises firms on resolving their regulatory issues and adding business value by helping boards in their decision-making. From roles as Chief Risk Officer, a member of the supervisory panel at the Bank of England, and a partner to C-suites and boards of various firms, she brings practical experience to business solutions.

Kartina holds leadership positions in the actuarial profession in the UK and globally. She has served on the IFoA Council for the past seven years and was a member of its Audit and Risk Committee. She was also on the Board of Directors of the Actuarial Association of Europe for four years.

Kartina is passionate about inclusion, social mobility, and education, which she has channelled through her role as the Chair of the IFoA Foundation for the past three years. She mobilised the charity to make a remarkable impact on the next generation of actuaries and the wider actuarial community.

Kartina became President-elect in September 2023 and President in July 2024.

Dr Arvind Virmani is a member of NITI Aayog. He specialises in policy and institutional reforms for sustained, fast and inclusive economic growth.

He is a macro economist who has bridged the gap between academics, think tanks and policy makers, through research based policy advice and policy oriented research. He played a prominent, professional and advisory role in the economic reforms of the 1990s and 2000s, such as tax, tariff, foreign exchange, financial sector and expenditure policy reforms.

He was the founder Chairman of the Foundation for Economic Growth and Welfare (EGROW) and President of the Forum for Strategic Initiatives (FSI, Delhi). He earlier served as Executive Director, IMF, Chief Economic Advisor, Ministry of Finance and Principal Advisor, Planning Commission.

He was Director and Chief Executive of ICRIER and has published over 60 journal articles, books and chapters, and more than 100 working and policy papers in macroeconomics, growth, tax and tariff reform, foreign exchange, international relations and national security strategy.

He was a member of the TRAI, a mentor (public policy and economics) to FICCI, and member of Technical Advisory Committee on Monetary Policy, RBI.

His experience in the finance sector includes: Chairman, Board of Trustees of SBI Mutual Fund, Director LIC, Member of SEBI Appellate Tribunal and Depositories Act, Member Board of Trustee at UTI and Director in PNB, Allahabad Bank and EXIM Bank.

His think tank experience includes Member, Board of Governors in CPR & RIS, Non-resident Sr. Fellow in Brooking Institution, USA, Affiliate Professor & Distinguished Sr. Fellow in George Mason University, USA.

 

Pricing and booking

For group bookings of five people or more, there will be a 10% discount.

Super saver: 16 August to 2 October

Student member: £100
Qualified Member: £225
Non-member: £300

Early bird: 3 October to 2 November

Student member: £125
Qualified Member: £250
Non-member: £325

Late: 3 to 18 November

Student member: £150
Qualified Member: £300
Non-member: £375

Virtual attendance

For sessions listed as ‘hybrid’ on the schedule, remote attendance is fully supported, ensuring you can engage seamlessly from anywhere. One workshop in each stream will also be offered in a hybrid format, and we will inform you of the specific sessions at a later time.

Member: £200
Non-member: £250

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CPD

IAI members attending the conference can claim the sessions under ‘Other Verifiable CPD’ hours.

Thank you to our sponsors and exhibitors

Sponsors

Swiss Re

 

Allianz

 

 

Location

Andaz Hotel, New Delhi, India

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