IAI SA3 case studies

IAI SA3 · Put your knowledge to work in context.

SA3 is a Specialist Application examination in the Institute of Actuaries of India (IAI) actuarial examination system, listed on the IAI site alongside the other Specialist Application papers under the "Actuarial Examination" section. IAI describes itself as "a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India." SA3 is intended for candidates who have completed the earlier stages of the IAI examination pathway and are now applying technical and professional judgement to realistic, specialist-level problems in their chosen practice area. The IAI SA3 case studies are 5 cases and about 4,034 words.

Motor Third-Party Reserving: Which Number Do You Sign?

Tristar General Insurance writes motor third-party bodily-injury business, with gross written premium of ₹1,850 crore and carried outstanding claims reserves of ₹3,200 crore at the latest year-end. You are the appointed actuary.

802 words, about 4 min 2

Group Health Renewal: Price, Terms and a Broker's Ultimatum

Kaveri Health Insurance's largest group health account - 12,000 lives, premium ₹96 crore, expiring 31 March - has deteriorated sharply. The incurred loss ratio was 118% against 92% the previous year.

819 words, about 4 min 3

Solvency Below Control Level: Capital, Reinsurance or Exposure Reduction?

Sunrise General's solvency ratio has fallen to 1.42 against the 1.50 control level after two years of rapid growth in crop insurance, now 22% of gross written premium. The scheme is state-sponsored, settled on yield-index data with a reporting lag, and the latest monsoon forecast points to a 60% chance of El Niño conditions.

814 words, about 4 min 4

A ₹11,000 Crore Single Risk in a Cyclone Zone

Deccan Steel's coastal plant is up for renewal: property damage sum insured ₹9,000 crore, plus business interruption on a declared gross profit basis of ₹40 crore per week over a 52-week indemnity period. The group already carries 12 similar industrial risks in the same cyclone zone.

799 words, about 4 min 5

Internal Model Validation Findings Before a Dividend Decision

An internal-model validation of Aurora General's economic capital model has landed on your desk. The liability-risk module uses a factor-based formula calibrated on 2016–2019 data and excludes the 2020–21 claims shock.

800 words, about 4 min