The Actuarial Innovation Challenge and IFoA India Conference offer a unique chance for students to tackle real-world issues and make an impact in the actuarial field. These events offer invaluable experiences for actuaries of the future to gain insights from industry leaders
We are pleased to announce that we will be hosting the Actuarial Innovation Challenge at the IFoA India Conference 2024. The conference invites university students from across India who are building their path towards the actuarial profession to showcase their talent.
The competition is a joint initiative by the Institute and Faculty of Actuaries (IFoA) and the Institute of Actuarial & Quantitative Studies (IAQS). It is designed to encourage students to brainstorm ideas on developing insurance products for future problems, identifying potential issues and developing practical approaches. And it gives students a platform to collaborate with peers, present their work to industry professionals and receive valuable feedback.
The theme of the competition emphasises building viable insurance solutions that address the specific needs of the people. The students will be asked to devise an insurance product catered to disadvantaged communities, ensuring both social benefit and feasibility. This gives students a chance to step into the role of an actuary exploring a new product strategy and applying theoretical concepts to real-world problems. The format of the competition focuses on problem-solving as well as presentation skills.
The competition will be based on a case study and will be held in three rounds. For the prelim round, participants will be required to work in teams and submit a 12-slide presentation on an innovative financial protection product. Next, for the semi-final round, the teams will present online to an independent panel. The top 10 teams will qualify for the grand finale round which will be held at the conference. They will receive additional information in the case study and the team should present their enhanced solutions live.
And here comes the most exciting part: the top three teams will win attractive cash prizes (in the form of coupons). Every participant will receive a digital certificate recognising their contributions. Plus, the winning innovations will be featured on the competition website and a spot in the Cognizance Magazine of IAQS where the teams will get to showcase their innovation to the wider IFoA membership and prospective employers.
The competition is a chance to be at the forefront of innovation in the actuarial field and to drive positive change. Students can gain valuable experience from networking with actuarial professionals from varied backgrounds.
The first ever IFoA India Conference is taking place on 29 November to 1 December in New Delhi, India. The theme of the conference – ‘Actuaries of the Future’ – gives delegates an opportunity to engage with cutting-edge topics like data analytics, AI, climate risk and more. The aim of the conference is to bring forward international perspectives and explore topics for actuaries evolving into non-traditional roles. The conference will bring together industry leaders, academics, and professionals for an enriching experience. Attendees can look forward to insightful keynote speeches, interactive plenary discussions and networking sessions with peers and leaders in the actuarial field.
The event will offer workshops and sessions tailored to emerging trends and challenges, ensuring that participants gain practical knowledge and skills applicable to their careers. Don’t miss this chance to be at the forefront of actuarial innovation and connect with a global network of professionals.
The conference provides a platform to discuss innovative ideas which may shape the future of actuaries. The initiative represents an important step forward in the IFoA’s commitment to highlight the actuarial profession in India.
Ready to make your mark? Register now for the Actuarial Innovation Challenge and secure your spot at the IFoA India Conference 2024. Don’t miss out on our early bird offer from 26 September to 26 October, for a chance to participate in this exciting competition and conference at a reduced rate.
Please visit our registration page today and join us for an event that promises to be both inspiring and career-advancing. Find the links below:
Actuarial Innovation Challenge 2024
