Actuarial Services

Actuarial Valuation Services

India s Leading Gratuity Actuarial Valuation Consultant, Trusted by 2500+ Happy Clients and Auditors Across India. Actuarial Valuations of Gratuity, Leave Encashment, Sick Leave, Pensions, Provident Fund, AS 15, AS 19, ESOP Valuations. Actuarial Consultancy in Life Insurance, General Insurance, and Pensions. PAN India Support

Admissions for one and half years Certificate Course in Analytics and Actuarial Science, have been opened.

Let us assume that a company generates some profits at the end of a year of its operations. Now any non actuarial or even non accounting professional will say depreciation needs to be provided; if it is already not provided. Similar is the case for employees liabilities e.g. gratuity, leave encashment etc.Depreciation can be calculated by the technical expert who knows about that particular machinery. Similarly employees liability accrued during a year will be calculated by an Actuary by performing Actuarial valuation

An Actuary is an expert who applies the concepts of mathematics, statistics and probability to assess financial and other risks associated with financial products such as insurance, investments, retirement and other benefits. The actuary is responsible for designing insurance and pension products and setting the premium pricing.

We offer various actuarial reports as per statutory requirements and guidelines of Accounting Standard 15 (revised) as well as IAS 19 for the purpose of IFRS Audit. Applicable to most of the companies, a few reports that we prepare are: Actuarial valuation of Gratuity Liability Actuarial valuation of Earned leave/ Sick leave Liability Actuarial valuation of Pension/ Superannuation. Actuarial valuation of Interest rate guarantee for provident fund. Actuarial valuation of LTC, Insurance, Medical Benefits Long term service awards etc And other defined Retirement benefits plan. Digital Signatures: We are the Authorized Partners of (n) Code Solutions for Digital Signatures of Class II (ROC, Income Tax, EPF), Class III (Tenders) DGFT (Import and Export).

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Actuarial Valuation of Gratuity as per Gratuity Act 1972 and AS15 revised Actuarial Valuation of Gratuity as per IND AS 19 Actuarial Valuation of Gratuity as per IAS 19 R Actuarial Valuation of Gratuity (as per US GAAP ASC 715-30 Actuarial Valuation of Pensions/Superannuation Actuarial Valuation of sick leave and previlege leaves Actuarial Valuation of Post Retirement medical benefits Actuarial Valuation of Long Service benefits (life loyalty bonus etc.) Actuarial Valuation of Health related benefits Actuarial Valuation of Disability benefits

Globalization and increasing competition faced by business makes it necessary for growth-centric organizations to quickly adapt to the changing business environment. Organizations require combining the best global practices into their business process. This helps them in benchmarking their performance with the best in the industry. Thus organizations need a better access to new tools and technologies which can help them stay in tune with the global happenings that has an impact on their business. Hence, professional experts who provide actuarial services can be of immense help who deal in specialized areas thereby assisting organizations to optimize their performance and gain a competitive edge amongst others. PK Chopra has actuaries who are specialized in different disciplines like finance, risk management, insurance among others to provide intelligent and flexible solutions to organizations enabling them to extend their business capabilities by enhancing their existing processes and performance to the maximum extent. Corporate Reporting Improvement Corporate reporting gives an overall view of the business performance in accordance with the business objectives. It helps companies define the goals and objectives that help understand the direction and the process by which it is likely to achieve these given objectives. In short, corporate reporting improvement is a non-financial performance indicator of an organization. Company values, corporate governance, brand reputation, company policies, business objectives and targets, corporate social responsibility (CSR) are some of the key areas that the corporate reporting improvement process must focus on. PK Chopra are the trusted partners who have been assisting companies to maximize returns and improve shareholder value with strong investor confidence with their high-quality services and professional approach towards achieving a smoother and transparent system of corporate reporting improvement process. PK Chopra have been providing the corporate reporting improvement services which are as follows:- Quality management: The high standards of quality trust and reliability to its clients with respect to maintaining the crucial business information used for public disclosures is PK Chopra s hallmark. The company uses the most professional approach for non-financial business reporting by ensuring maximum transparency in the process. It also facilitates the process of change required to make the corporate reporting process more reliable and efficient. Performance management: PK Chopra assists its clients by helping them develop the best practices for reporting even in non-financial functions by focusing on better reporting techniques that enable organizations to establish greater visibility and relationships among the company and its stakeholders. Better reporting enhances the value proposition of the company by helping them realize their true potential thereby leading to improved performance. Relationship management: The Company helps in better corporate reporting improvement process by assisting in establishing communication channels between the company, customers, shareholders, external stakeholders and the society in general with better relationships based on mutual trust and confidence.

Actuarial Services

Actuaries analyze and then predict financial or other consequences of a possible event.They calculate insurancepremiums,cash values, dividends and statutory reserves. It is an approach to quantifying risk. We play a pivotal role incontrolling an organization s cost of risk and ultimately realizing risk management and business objectives. We offer an elaborate range of actuarial services to design, implement and maintain risk-financing programs

Defined Benefit Plan Actuarial Services and Administration Our professional staff has the expertise and up-to-date technology to provide the necessary actuarial and administrative assistance to manage your defined benefit plan: Calculate employee eligibility and plan entry. Maintain participant vested percentage records. Determine eligibility to receive benefit accrual. Prepare annual actuarial report and certification. Actuarial determination of required employer contributions. Preparation of individual benefit statements. Distribution processing: Calculation of distribution amount, preparation of required distribution notices, release forms and IRS Form 1099-R.

Owing to the inherent nature of sectors like insurance, employee benefits and actuarial consulting, managing risk is important for firms in such sectors. CRISIL GR A s actuarial practice provides analytical services to consulting firms, syndicates, advisors and (re)insurance companies and its intermediaries. We help clients better manage risks, underwrite more profitable businesses and strengthen market position and assisting them to comply with regulatory requirements. Our team, comprising credentialed and student actuaries and statisticians, offers services on risk management, pricing, loss provisioning/reserving, pension valuations, model validation, modeling, ICD-10 implementation, predictive analytics, Solvency II implementation support and reporting. Our actuarial offerings broadly include two pillars: Pensions Insurance.

Actuarial Audit: We work closely with various audit firms and assist auditors in scrutinizing/auditing actuarial valuation reports of clients. We provide the auditors with a thorough audit analysis report which includes : (i) Assumptions review and reasonableness check (ii) Sample test lives liability check (iii) Comparison to prior years liability results (iv) Sensitivity analysis of the liabilities to actuarial assumptions used (v) Actuarial gain/loss analysis

Venimadhav Securities Pvt. Ltd. is a full service brokerage house, committed to provide the investors a wide array of investment products to meet their needs. Our team consists of skilful, determined and energetic people who are driven by passion and have extensive experience in the field of Capital Market. Our experienced team of relationship managers provides timley advice to the clients for efficient execution of transactions in both NSE and BSE. Our trading activities include the execution of retail orders, block trades and corporate equity repurchases, all of which occur in a fast-paced and volatile marketplace. We are driven by keen understanding of the business and are thus able to provide clients with solutions appropriate to fit their needs. Our services include identifying clients investment requirements, identifying suitable investment opportunities, keeping clients informed of company and market developments, maintaining a constant flow of information to our clients and transacting buy and sell orders effectively and professionally.

Actuarial science is built on the statistical evaluation of the financial and economic implications of possible contingencies. The science essentially deals with calculation of insurance risks and premiums. It is built on the statistical evaluations of the financial, economic and other implications of future contingent events. BN Co. assists in analysis and modelling of problems in finance, risk management, product design, product development and are used extensively in the areas of insurance, pensions, investment and more recently in wider fields such as project management, banking and health care. Within the Insurance sector, we perform a wide variety of roles such as design and pricing of product, financial management and corporate planning and appraise capital projects at large. Actuarial valuations of employee benefits includes gratuity liability, leave encashment liability, earned leave benefits, sick leave benefits, pensions, interest rate guarantee for provident fund, LTC, service awards, defined benefits plan etc.

CRISIL GR&A offers a variety of actuarial and analytical solutions to actuaries in (re)insurance and consulting firms. We work as an extension of the plan actuary team; all deliverables are thoroughly reviewed by our senior practitioners as per plan actuary quality standard processes. ValuationPerform monthly end-to-end valuation which includes, but is not limited to, data mining, bases creation, trend and data analysis and running modelsCash flow projection associated with the policies using different economic and demographic assumptionsCalculation of asset and liability figures using the Market Consistent Embedded Value approachPricingProvide support in setting up model and performing profit testingRate and pricing comparisonRestructure product and pricing assumptionsAssist in documentation and creating sample illustrations for product filingSolvency IIValidate the firm-wide models used for Risk ManagementStrategic planning and actuarial pricingEvaluation of market risk and asset credit riskDevelop detailed documentation for risk models and aggregationCounterparty credit risk and Credit Value Adjustment (CVA)Value at Risk computation and Incremental Risk Charge (IRC)Systems ConversionsMoving from an existing platform to a new platformReconciling of movements. Finding deviations and taking corrective steps Updating coding in actuarial systems, and helping clients comply with the evolving regulatory environmentInsurance CompliancePreparation of insurance filings for insurance products to state regulatorsHandling objections from state regulators by modifying insurance policy and formsActuarial memorandum draft and reviewOther ad-hoc compliance supportProficient in preparing process maps and standard operating proceduresOther SupportIFRS implementation and preparation of required statutory reportsSupport for actual on experience study, business plan, and capital modelingPeer reviewing of models which includes reviewing model for consistency and accuracy and suggest improvements in existing modelsPre-close and year-end reporting for budgeting and strategic planning

Irevna as an actuarial consultant has experience working on hundreds of pension and OPEB valuations for various clients around the world. Besides pension valuations, its team is also experienced in pricing pension plans for pension buy-out businesses, implementation of liability driven investing (LDI) strategies and reporting activities using specially designed tools and actuarial software such as ProVal.

We also provide actuarial and benefits consulting service to companies and Funds. Services include valuations as per AS 15, FAS 87, plan design and restructuring of these Funds.

This is first time in Chennai that we have initiated to the help the actuarial aspirant to cleared the professional actuarial exam which is going to be held on November 2013. The classes will start from 1st week of July 2013 and will continue for three month. Classes will be taken by eminent faculty member with ample experience. The total teaching hours per subject will be around 50 hours, and the classes will be held on Saturday and Sunday. Therefore it is a golden opportunity for the working people as well as students to avail this.

Actuaries analyze and then predict financial or other consequences of a possible event.They calculate insurancepremiums,cash values, dividends and statutory reserves. It is an approach to quantifying risk. We play a pivotal role incontrolling an organization s cost of risk and ultimately realizing risk management and business objectives. We offer an elaborate range of actuarial services to design, implement and maintain risk-financing programsLoss Probability Studies We provide forecasts about the intensity and frequency of future losses with an eye on the best and worst case scenarios.Risk Retention Analysis We assess advantages and disadvantages of different levels of risk retentions with effective strategies.Loss Reserve Analysis Reserves are affected by various factors, both internal and external. We use this knowledge to accurately measure reserve levels and achieve an appropriate level.

Limitless, has been instrumental in providing actuarial consulting to Insurers Reinsurers globally. It has been several years since Limitless has been engaged in this activity and has successfully executed a few projects with great acclaim. With the pool of trained actuaries that the company employs it is able to provide this consulting in both the general and life insurance segment. We have assisted clients in new product development as turn key project, including assisting our clients, to make presentations to their concerned regulators. Consulting on pricing on general and life insurance products has also been provided , including niche segments such as agriculture insurance.Please reach to us for the same., and we would be pleased to assist you, we have worked on this, on several geographies.Limitless in detail provides the following services in General Insurance. Product Pricing and Development across retail, commercial and speciality lines of businessReserving across all lines of business spanning across retail, commercial and speciality lines. This includes both stochastic and deterministic reserving.Capital driven Business and Risk Strategy; Financial PlanningPlanning and Designing of Reinsurance solutions including structured solutions (ART) with RTT; Evaluation and analysis of CAT modelling reports; Evaluation and Analysis of Commutation agreements/offer.ERM implementation based on COSO.Facilitating transition to and implementation of IFRS implementationAsset Liability Management and Investment PolicySystem design and UAT analysisDesign of Government Mass Schemes e.g. Health, AccidentFinancial Condition ReportRegulatory Economic Capital Modelling

Actuarial Science is a method by which corporations determine, assess and plan for the financial impact of risk. Actuaries use mathematical and statistical models to evaluate risk in the insurance and finance industries. In addition to mathematical and statistical methods, actuaries call upon other fields including probability, finance, economics and computer programming to create actuarial models. Actuarial science is used to evaluate and predict future payouts for insurance and other financial industries such as the pension industry. Pramartha uses various actuarial models and analytical tools that help our valued clients quantify, evaluate, and manage the costs associated with their insurance and risk management programs. We specialize in a number of areas. Following are the focus areas of Pramartha: Asset Liability Modeling (ALM) Liability Index LDI strategies Solvency II related services Gratuity and other Employee Benefit Valuation Pricing of Insurance Products Management of insurable risks, Selection and Evaluation of insurance contracts Design of Pension Plans and valuation of their costs and commitments Embedded Value Calculation for Insurance IPO's, Mergers Acquisitions, etc. Takaful and other Islamic product related services Micro insurance related services

SS Consultancy provides actuarial valuation and consulting for employee benefit liabilities in accordance with the applicable accounting standards (AS 15 (Revised) and IAS-19 IFRS, US GAAP (FAS 87/158) and any other. The main defined benefit plans include:GratuityEarned LeaveSick LeaveProvident FundDB Pension PlansLong Service AwardsDeferred Bonus/BenefitsPost Retirement Medical Benefit Schemes (PRMBS)Any other like Warranty Cost/Rewards points accumulation etc.

Other Actuarial Services relating to employee benefits Employee Benefit Scheme design, re-design and draftingFunding valuations- calculation of contributions to be made to Gratuity, Privilege Leave & Pensions Trust FundsProjections for future cashflows in respect of Defined Benefits schemesExperience analysis (sensitivity analysis & scenario testing)Assumption settingBudgeting in respect of employee benefit costs for future accounting periodsSetting of Contribution Rates to meet the funding requirementsAssessment of adequacy of fundsCost estimates of alternative Defined Benefit plansAdvice on funding and insurance decisions

Pension Actuarial Valuation as per AS 15 (R) or other GAAPS like IAS, Ind AS 19, US GAAP

Actuarial Evaluation or Salary Survey

Big data technologies are revolutionising the way in business is conducted in many industries. The ability to process large volumes of data has enabled organisations to combine data from a variety of sources leading to new insights about their customers and businesses, and new strategies.Big data technologies have also renewed the interest in traditional data science which continues to be the core engine through which insights are created from large datasets.The principles of data science and big data remain largely the same irrespective of the industry to which a data set relates to. Data science used in the right way would bring new insights and open new avenues for growth. A couple of example of how we can help your business leverage data science:Data strategyHaving a strategy for the use of data and ultimate objectives of that strategy is critical to the success of any data analysis programme. We will work with you to:Understand your business model,Understand your business prioritiesStudy any data that you currently hold andIdentify other potential data sources.After the initial feasibility study. If it becomes clear that the benefits of data analytics programme outweigh the costs, we will help you in drafting a realistic strategy with expected outcomes.Data engineeringThe next stage of your data journey is to convert data sets into databases that can be analysed. This would involve:Analysis of the shape of existing data sets; whether structured or unstructuredSuitability of available alternatives; relational databases, NoSQL or Hadoop could all be eligibleAssessment of query languages; e.g. Python, Pig, Hive or SparkConnecting the databases to enable analytics to be carried outInsights generationThe final outcome of a data analytics programme would be to have a steady stream of actionable insights emanating from the data farm. During the initial stages, this would be an iterative process to narrow down on exactly what insights are actionable while other that are useful in other ways.We will design the codes and algorithms necessary to continually convert data into such insights.Maintenance and supportAfter the initial implementation, we can go a step further and take ownership of your entire data analytics programme and present the right insights in bespoke visual dashboards for designed your business, using our proprietary client portal NUMEX. We would also continue to monitor the relevance of your datasets and present new insights.