Category Archives: Insurance

Everything about insurance!

Irda seeks to amend 16-year old Appointed Actuary regulations

Insurance regulator Irda has proposed changes in the 16-year old regulations regarding Appointed Actuaries by modifying framework for their appointment and functions.

“Based on the experience gained, since the last amendment effected in the year 2013, the Authority felt that there is a need to amend the IRDA (Appointed Actuary), Regulations, 2000,”

it (more…)

The Internet of Things and Actuarial Engineering

Future of internet UI concept of internet of things IOT
Future of internet UI concept of internet of things IOT

Should property-casualty actuarial science be considered an engineering specialty whether Actuarial Engineering is possible? Thanks to the Internet of Things (IoT) revolution, there are compelling reasons to consider aligning ourselves with engineers. According to Wikipedia, the Internet of (more…)

5 Ways The IoT Will Transform The Insurance Industry


The U.S. Insurance industry is the world’s largest insurance market where 6,118 companies, employing 2.5 million people, have net annual premiums of $1.1 trillion. Yet, despite its size and overall financial health, the insurance industry is likely to experience profound change driven by a fast growing and ubiquitous force – The (more…)

Insights: Modelling and Management of Cyber Risk

The Summary is completely based on research paper by Martin Eling & Jan Hendrik Wirfs.

I read the paper so I summarized it and you’ll find examples with Youtube videos(wherever possible) so as to make sure the approaches they have used are understandable to everyone. The paper contains total of 24 pages which you (more…)

How can Actuaries be Thought Leaders on Cyber Liability?

The infrastructure, the users, and the services offered on computer networks today are all subject to a wide variety of risks posed by threats that include distributed denial of service attacks, intrusions of various kinds, eavesdropping, hackingphishing, worms, viruses, spams, etc. In order to counter the risk posed by these threats, (more…)

[Submitted] Actuaries and Data Scientists – Match Made In Heaven or Hell?

In our previous article titled “What is the reality of the Chief Data Officer role within the insurance sector?”, we were joined by leading Chief Data Officers and Chief Analytics Officers who provided their thoughts on the status of data and analytics leadership and transformation within this industry. In the report, (more…)

Brexit: The Impact on Actuarial and Insurance Market

A brief intro of Brexit-

British withdrawal from the European Union, often shortened to Brexit (a portmanteau of “British” or “Britain” and “exit”),  is a political goal that was pursued by various individuals, advocacy groups, and political parties since the United Kingdom (UK) joined the precursor of the European Union (EU) in 1973. Withdrawal (more…)

“Entrepreneurship and being an Actuary” – Innovation in Zimbabwe

People they there is nothing except Insurance. I’ve always dreamt of making it more than that, doing more than insurance and pensions. This is exactly complementary to my article on Insurance & Entrepreneurship. A must watch video to look at different aspects of what “else” you have power to do.

Douglas Hoto, an (more…)

If there is no Appointed Actuary, no approval for new products: IRDAI

The Insurance Regulatory and Development Authority of India (IRDAI) has tightened norms relating to Appointed Actuaries (AA) in insurance companies.

If there is no appointed actuary, the regulator will not approve new products.

“If there is no appointed actuary for a considerable period of time, say, more than one year, the companies will (more…)

Estimation of reduction in Expenses by 15-20% : Chief Actuary, HDFC Life

Policyholders are likely to get better returns on their life insurance policies from April as the regulator has asked insurers to bring down their overall expenses.

 In its exposure draft, the Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to bring down their overall expenses limit for various categories (more…)