{"id":59,"date":"2009-11-09T11:17:39","date_gmt":"2009-11-09T05:47:39","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=59"},"modified":"2024-11-09T16:36:10","modified_gmt":"2024-11-09T11:06:10","slug":"driving-force","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/driving-force\/","title":{"rendered":"DRIVING FORCE"},"content":{"rendered":"<p>The growth in the Indian financial market was the major reason for the spurt in the demand for actuaries. Apart from the traditional areas of life and general insurance, pension and reinsurance, actuaries are now needed to play the roles of consultants, investment advisers and risk managers as well. A number of banks are set up\u00a0 joint ventures with insurance companies, which has likely \u00a0raised \u00a0the number of life insurance companies from 16 to more than 20. The number of general insurance companies is also expected to increase from 12 to around 15.<\/p>\n<p>The health insurance sector is also expected to get a big dose of growth. V Jaganathan, managing director of Star Health Insurance, says there is huge potential for the sector in a populous country like India. Apollo Hospital, for instance, is close to establishing a health insurance company.\u00a0 Reforms in pension funds, whenever they happen, are also expected to add to the demand.<\/p>\n<p>India has the potential to emerge as a key actuarial back office in the BPO sector as well. A few companies are already in the business of low-level calculations. Once the supply pool expands, India can take up more complex and more lucrative back office work, says Krishnamurthy.<\/p>\n<p>Source: <a href=\"http:\/\/www.moneyoutlookindia.com\/\">www.moneyoutlookindia.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The growth in the Indian financial market was the major reason for the spurt in the demand for actuaries. Apart from the traditional areas of life and general insurance, pension and reinsurance, actuaries are now needed to play the roles of consultants, investment advisers and risk managers as well. A number of banks are set up\u00a0 joint ventures with insurance companies, which has likely \u00a0raised \u00a0the number of life insurance companies from 16 to more than 20. The number of general insurance companies is also expected to increase from 12 to around 15. The health insurance sector is also expected to get a big dose of growth. V Jaganathan, managing director of Star Health Insurance, says there is huge potential for the sector in a populous country like India. Apollo Hospital, for instance, is close to establishing a health insurance company.\u00a0 Reforms in pension funds, whenever they happen, are also expected to add to the demand. India has the potential to emerge as a key actuarial back office in the BPO sector as well. A few companies are already in the business of low-level calculations. Once the supply pool expands, India can take up more complex and more lucrative back [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-59","post","type-post","status-publish","format-standard","hentry","category-data-analytics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rising Demand for Actuaries in India\u2019s Financial Market<\/title>\n<meta name=\"description\" content=\"Explore how India&#039;s expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ivyproschool.com\/blog\/driving-force\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising Demand for Actuaries in India\u2019s Financial Market\" \/>\n<meta property=\"og:description\" content=\"Explore how India&#039;s expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ivyproschool.com\/blog\/driving-force\/\" \/>\n<meta property=\"og:site_name\" content=\"R vs Python: Which Analytics Tool Should You Choose for Data Science?\" \/>\n<meta property=\"article:published_time\" content=\"2009-11-09T05:47:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-09T11:06:10+00:00\" \/>\n<meta name=\"author\" content=\"Spam Prats\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Spam Prats\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/\"},\"author\":{\"name\":\"Spam Prats\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/01d3469a45250acdf099bb1467ef3498\"},\"headline\":\"DRIVING FORCE\",\"datePublished\":\"2009-11-09T05:47:39+00:00\",\"dateModified\":\"2024-11-09T11:06:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/\"},\"wordCount\":206,\"commentCount\":0,\"articleSection\":[\"Data Analytics\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/\",\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/\",\"name\":\"Rising Demand for Actuaries in India\u2019s Financial Market\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#website\"},\"datePublished\":\"2009-11-09T05:47:39+00:00\",\"dateModified\":\"2024-11-09T11:06:10+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/01d3469a45250acdf099bb1467ef3498\"},\"description\":\"Explore how India's expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/driving-force\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"DRIVING FORCE\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/\",\"name\":\"Ivy Professional School | Official Blog\",\"description\":\"Confused between R and Python for your data science journey? Discover the key differences in data visualization, handling capabilities, speed, and ease of learning.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/01d3469a45250acdf099bb1467ef3498\",\"name\":\"Spam Prats\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g\",\"caption\":\"Spam Prats\"},\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/author\\\/admin-2\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Rising Demand for Actuaries in India\u2019s Financial Market","description":"Explore how India's expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ivyproschool.com\/blog\/driving-force\/","og_locale":"en_US","og_type":"article","og_title":"Rising Demand for Actuaries in India\u2019s Financial Market","og_description":"Explore how India's expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.","og_url":"https:\/\/ivyproschool.com\/blog\/driving-force\/","og_site_name":"R vs Python: Which Analytics Tool Should You Choose for Data Science?","article_published_time":"2009-11-09T05:47:39+00:00","article_modified_time":"2024-11-09T11:06:10+00:00","author":"Spam Prats","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Spam Prats","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/#article","isPartOf":{"@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/"},"author":{"name":"Spam Prats","@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/01d3469a45250acdf099bb1467ef3498"},"headline":"DRIVING FORCE","datePublished":"2009-11-09T05:47:39+00:00","dateModified":"2024-11-09T11:06:10+00:00","mainEntityOfPage":{"@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/"},"wordCount":206,"commentCount":0,"articleSection":["Data Analytics"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ivyproschool.com\/blog\/driving-force\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/","url":"https:\/\/ivyproschool.com\/blog\/driving-force\/","name":"Rising Demand for Actuaries in India\u2019s Financial Market","isPartOf":{"@id":"https:\/\/ivyproschool.com\/blog\/#website"},"datePublished":"2009-11-09T05:47:39+00:00","dateModified":"2024-11-09T11:06:10+00:00","author":{"@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/01d3469a45250acdf099bb1467ef3498"},"description":"Explore how India's expanding financial and insurance sectors are driving the need for actuaries as consultants, advisors, and risk managers.","breadcrumb":{"@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ivyproschool.com\/blog\/driving-force\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ivyproschool.com\/blog\/driving-force\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ivyproschool.com\/blog\/"},{"@type":"ListItem","position":2,"name":"DRIVING FORCE"}]},{"@type":"WebSite","@id":"https:\/\/ivyproschool.com\/blog\/#website","url":"https:\/\/ivyproschool.com\/blog\/","name":"Ivy Professional School | Official Blog","description":"Confused between R and Python for your data science journey? Discover the key differences in data visualization, handling capabilities, speed, and ease of learning.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ivyproschool.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/01d3469a45250acdf099bb1467ef3498","name":"Spam Prats","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d0af2e055007729b2006caa5ad5294a2ff77cf96b351e86845763a70a8c0fed2?s=96&d=mm&r=g","caption":"Spam Prats"},"url":"https:\/\/ivyproschool.com\/blog\/author\/admin-2\/"}]}},"_links":{"self":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/59","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":1,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions"}],"predecessor-version":[{"id":12490,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/59\/revisions\/12490"}],"wp:attachment":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/media?parent=59"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/categories?post=59"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/tags?post=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}