Welcome Message

R Arunachalam

President, Institute of Actuaries of India

It gives me immense pleasure to cordially invite you to the 23rd Global Conference of Actuaries (GCA) and the Actuarial Gala Function & Awards (AGFA) 2024 scheduled from 12th to 14th February 2024 at The Westin Powai Lake in Mumbai.

In 2023, GCA made a much-awaited comeback post Covid pandemic and we saw an all-time high participation from our members. The line-up of the plenary and concurrent sessions covered a wide breadth of the topics such as Sustainability Dialogue, Indian Insurance at Amrit Kaal, changing roster of Actuarial Skill set to name a few. The keynote address from dignitaries from the Finance Ministry and Insurance Regulator which highlighted the Actuarial talent supply gap in Indian insurance was a special highlight.

This year, I am looking forward to see the discussions curated around the GCA 2024 theme “Data, Disruptions and The Actuary”. Advent of Big Data Analytics has brought in a seismic shift in the Insurance landscape and this presents Actuaries with further refined tools for risk assessment and modelling. Actuaries have a big role to play in the paradigm-altering disruptions in traditional processes particularly relating to Underwriting, Pricing and Claims functions.

Actuaries can leverage machine learning algorithms to identify complex patterns and correlations within the data, enhancing risk prediction. Despite the plethora of advantages due to use of Big Data, Actuaries will have to strike a balance and weigh in the benefits against the implications for the protection of policyholders.

It will be interesting to see specialist panels engage in thought-provoking dialogues and share key insights on topics of criticality for the insurance, pension and banking domains. The GCA offers unique opportunities to connect with dignitaries worldwide making it a truly Global forum.

I am extremely delighted about the AGFA 2024 (Actuarial Gala Function and Awards), the curtain-raiser to the GCA which celebrates the success of our students. I welcome you to join me in felicitating our new associates, fellows and academic excellence awardees on this prestigious occasion. It is an inspiring moment to witness culmination of the hard work and perseverance of our students. Also, AGFA Performance League was launched last year amidst much fanfare on the occasion of AGFA to showcase the cultural and four teams of Actuaries dazzled us with fine performances in their bid to win the APL trophy and the grand prize. APL will return this year in a more creative avatar as the Actuaries put on the hat of the Entertainers once again.

The preparations are underway with renewed zeal by the GCA Organizing Group (OG) and its sub-groups. I am sure that their hard work will pay off to make this event a grand success.

Kindly mark your calendar and begin making travel arrangements to be part of this thrilling event with us.

We look forward to seeing you at the 23rd GCA.