IAI SP8 case studies
IAI SP8 · Put your knowledge to work in context.
SP8 is a specialist qualification in general insurance for actuaries and senior insurance professionals, offered within the Institute of Actuaries of India's specialist certificate structure. It suits candidates who already have a grounding in actuarial mathematics and want to apply it to non-life work: product design, underwriting, pricing, reserving, reinsurance, capital and reporting. The syllabus moves across the whole general insurance value chain, so the exam rewards people who can connect a pricing assumption to a reserving outcome and then to a solvency balance sheet, rather than treating each topic as a separate silo. Expect quantitative questions alongside conceptual and judgement-based ones, including professionalism and communication scenarios. The IAI SP8 case studies are 5 cases and about 4,494 words.
1Motor own-damage rate filing with a shifting distribution mix
You are the pricing actuary at a mid-sized Indian general insurer. The private-car own-damage (OD) portfolio wrote ₹4.2bn of premium in FY2024-25 and reported a loss ratio of 71%.
984 words, about 5 min2Workmen's compensation reserving with late-reported large claims
You are deputy to the appointed actuary of an Indian insurer that began writing workmen's compensation (WC) and public liability in 2021-22. Gross written premium rose from ₹850m to ₹2.6bn in three years.
776 words, about 4 min3Catastrophe reinsurance structure: net versus gross attachment
You are the chief actuary of an Indian insurer with a commercial property portfolio. Gross written premium is ₹9bn.
921 words, about 5 min4Internal model validation, use test and ALM assumptions
You are the chief risk officer of an Indian insurer. Your internal model, used in the ORSA, produces a 1-in-200 one-year VaR of ₹6.4bn.
839 words, about 4 min5Risk adjustment, medical inflation and management pressure
You are the appointed actuary of an Indian insurer. The company has adopted Ind AS 117.
974 words, about 5 min