Visit to the Institute of Actuary of India
Visit to the Institute of Actuaries of India (IAI) in Mumbai was a valuable learning opportunity. We engaged with experienced professionals who provided deep insights into actuarial science. Through interactive sessions, industry experts shared their knowledge on key topics such as general insurance, actuarial functions, and financial modeling, making the experience both informative and enriching.
Visit minute:
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Sana Siddharth Kanuri: She has served as an actuary for 18 years and continues it. She worked in Mumbai, USA, Bangalore, Australia. And she even recounted her journey as an actuarial professional, giving us practical insights into the industry. She spoke about the profession's challenges and rewards, highlighting the crucial role of technical and analytical skills in achieving success in actuarial careers. She also stated quote saying,” If you fail exams, don’t regret or worry, just give it another try.”
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Corbel Adrian: (An Australian Actuary) provided insightful perspectives on General Insurance, shedding light on its core concepts and industry dynamics. He worked as a financial planner at SUNCORP. He showed us about different types of General Insurance including insurances like, property insurance, health, worker componsession, cyber, cargo, event, sports, flood, CTP, LMI, landlord, and many more. And at last, he showed what makes a good candidate for building an early career in GI.
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Avdhesh Gupta thoroughly explained various actuarial functions, emphasizing the importance of the actuarial control cycle in managing risk. He also delved into cash flow projections, showcasing their critical role in financial planning and decision-making. He also shared a note on the functions of an Actuary including pricing of a product, risk management, budgeting planning, calculating profitability, etc.
After the webinar, we had lunch at the IAI office. Post lunch, we had an inspiring session with the Mr Vinod Kumar, Director of IAI, who shared valuable insights about the field of actuarial science. He emphasized:
The importance of enjoying the learning process while studying actuarial subjects. How actuarial science is a dynamic and evolving profession with increasing global demand. The significance of networking, internships, and continuous learning in building a successful career. His words motivated us to stay dedicated and approach our actuarial journey with enthusiasm.
Conclusion:
Our visit to IAI Mumbai was a valuable learning experience that deepened our understanding of actuarial science. Experts like Sana Siddharth Kannur, Adrian, and Avdhesh Gupta provided insights into key areas such as insurance, risk management, and financial planning. Mr Vinod Kumar, Director of IAI, who shared valuable insights about the field of actuarial science. Their sessions highlighted the technical skills required in the field and the real-world applications of actuarial concepts. This experience has strengthened our interest in actuarial careers and encouraged us to explore further learning opportunities.
