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The Institute of Actuaries of India (IAI) is the sole national apex body for actuaries in India. It was formed in September 1944 by the conversion of the Actuarial Society of India into a body corporate by virtue of the Actuaries Act, 2006. It is under the ownership of Ministry of Finance, Government of India.
The Actuarial Profession is changing, and so is the IAI. As actuaries move into newer roles in addition to the traditional roles, there is a need for students to have clarity on what exactly is actuarial sciences, why should they become an actuary and what does it take to become an actuary. Typically an Actuary uses financial and statistical techniques to solve real business problems, particularly that involving risk management.pen_spark
Institute of Actuaries of India (IAI)
Exams: Actuarial Common Entrance Test (ACET)
Courses
The IAI offers a variety of courses that lead to actuarial qualification. The courses are divided into three stages:
- Core Courses
- Specialised Courses
- Continuing Professional Education (CPE) Courses
The core courses provide students with the foundation knowledge of actuarial science. The specialised courses cover a wider range of topics, such as life insurance, general insurance, and pensions. The CPE courses are designed to help actuaries stay up-to-date with the latest developments in the profession.
Eligibility
To be eligible for admission to the IAI’s courses, you must have a bachelor’s degree in mathematics, statistics, economics, commerce, or a related field. You will also need to pass the IAI’s entrance exam, the Actuarial Common Entrance Test (ACET).
Admission Process
The admission process for the IAI’s courses is as follows:
- Register for the ACET exam.
- Pass the ACET exam.
- Apply for admission to the IAI’s courses.
Contact Details
The Institute of Actuaries of India
Plot No. C-1, Sector-29, Palm Beach Road, Sanpada, Navi Mumbai – 400705
Phone: +91 22 4910 8980
Official Website: https://www.actuariesindia.org/