GIC Re Assistant Manager case studies
GIC Re Assistant Manager · Put your knowledge to work in context.
GIC Re (General Insurance Corporation of India) runs a recruitment exercise for Assistant Managers, advertised on its own website under "Recruitment of Assistant Managers Detailed Advertisement". The published process is staged: a written examination (for which GIC Re publishes an Information Handout in English and Hindi and a call-letter download), then a group discussion and interview, with a medical stream routed through a first-level online interview. The GIC Re Assistant Manager case studies are 5 cases and about 4,232 words.
1Average clause, salvage and three-way reinsurance allocation on a fire loss
A chemical manufacturer's fire-cum-special-perils policy covers plant and machinery on a reinstatement-value basis for a sum insured of Rs 40.00 crore. The proposal form and the pre-acceptance survey both recorded the reinstatement value at Rs 50.00 crore, but the underwriter issued the policy at Rs 40.00 crore and no average-clause endorsement was discussed with the insured.
870 words, about 4 min2Chain-ladder IBNR, a late-reported large loss and the reported combined ratio
An analyst in the reserving cell of an engineering insurer is finalising gross IBNR at 31 March 2025 from the cumulative paid-claims triangle below (Rs lakh, development months 12 / 24 / 36 / 48): Accident year 2021: 100, 140, 168, 182 Accident year 2022: 110, 154, 185, - Accident year 2023: 120, 168, -, - Accident year 2024: 130, -, -, - The chief actuary wants a volume-weighted chain-ladder basis, no tail factor and no discounting. The CFO notes three things: accident year 2023 contains one offshore construction loss of Rs 45 lakh that was reported only in the 36-month period; the claims team will settle files materially faster from FY26 under a new TPA arrangement; and the line's earned premium is Rs 2,400 lakh, with incurred losses of Rs 1,310 lakh (before IBNR) and expenses of Rs 610 lakh.
748 words, about 4 min3Repairing a repudiation letter before it leaves the office
Meera, an assistant manager in the claims department, must clear a draft reply before it goes to a corporate broker. The insured has not and will not submit the fire brigade report.
887 words, about 4 min4Follow-the-settlements versus an ex gratia payment with consent withheld
A ceding company wrote a professional indemnity risk with a limit of Rs 10 crore and ceded 60% of it to a facultative reinsurer. The underlying claim by the insured's client was for Rs 9.2 crore.
842 words, about 4 min5Pre-existing hypertension, an expired waiting period and proportionate deduction
A 58-year-old policyholder bought an individual health indemnity policy with a sum insured of Rs 10 lakh in March 2021. The wording declares a 36-month waiting period for pre-existing diseases, a room-rent limit of 1% of sum insured per day, a 10% co-payment, and a clause stating that consumables and implants are not subject to the room-rent proportionate deduction.
885 words, about 4 min