Appointed Actuary

Company Description

Agriculture Insurance Company of India Limited (AIC) was established by the Government of India to provide specialized crop insurance to Indian farmers, promoting a sustainable actuarial regime. It is promoted by six public sector companies, including General Insurance Corporation of India and NABARD, and was incorporated in December 2002. AIC began its operations in April 2003 with a paid-up capital of INR 200 crore. The company covers around 25 million farmers under various crop insurance schemes, making it one of the largest crop insurance companies globally, with over 86% of policyholders being small and marginal farmers.

Role Description

This is a full-time, on-site role for an Appointed Actuary located in New Delhi. The Appointed Actuary will perform day-to-day tasks such as analyzing statistical data, assessing financial risks related to insurance policies, and applying actuarial methodologies to develop insurance product models. The role involves ensuring compliance with regulatory requirements and advising the company on financial and strategic decision-making processes. The Appointed Actuary will also play a crucial part in developing and maintaining actuarial models used for pricing, reserving, and risk assessment.

Qualifications

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• Strong Analytical Skills and proficiency in Statistics
• Expertise in Finance and Actuarial Science
• In-depth knowledge of the Insurance industry
• Excellent problem-solving and critical-thinking abilities
• Fellow of the Institute of Actuaries of India or equivalent qualification
• Ability to work independently and collaboratively with teams
• Experience in crop insurance or agricultural insurance is an added advantage