A4India is a social project supported by Actuelia, an actuarial consulting firm in Paris. It aims at bringing technical and volunteer help to an Indian micro-insurance organization, called Annapurna.
A4India, what does it mean?
- A for Actuelia, the consulting firm sponsoring this project,
- A for Actuarial sciences, because we are actuaries, and our skills are actuarial sciences,
- A for Annapurna, the micro-insurance organization in which the project will happen,
- A for Alizée, the French actuary, who takes part in this project, staying in India for 6 months.
- The goal of this missionThe four main objectives we would like to reach are as follows:
- Create and update a pricing process, in order to obtain fair-priced products.
- Assess the risks supported by the micro-insurance and set up some risk management indicators to follow and insure the durability of the activities.
- Inform the managers of Annapurna about the necessity of creating own funds, essential to support risks.
- Introduce a risk management process, which could ensure the autonomy of the micro-insurance.
Brief introduction of Alizée
My name is Alizée, and I very recently graduated the French Actuary Diploma and has become an actuarial consultant. To pass this diploma, the ultimate step was to write an actuarial paper, on a chosen topic. In this respect, my work was about Annapurna, and the system of micro-pension they just settled a few years ago. At the end of the paper, I wanted to carry on with the organization, involved in the improvement of the poorest people social welfare. This explains why, I am now living in India for 6 months !
Brief introduction of Actuelia
Actuelia is a consulting firm, specialised in actuarial sciences, based in Paris. Through this social project, Actuelia overtakes its border, starting a mission in India. This mission deals with insurance problematics, which are our daily work, but with a lot of differences due to the context.
This project is clearly connected with the values of the firm in sharing knowledge and supporting people in the success of their project. With a united and enthusiastic team, Actuelia is bringing voluntarily technical support to the micro-insurance Annapurna, by involving each consultant of the firm.
Brief introduction of Annapurna
Annapurna is an Indian micro-insurance created in 1993 by Medha Samant, current director of the association. This NGO is particularly founded to support poor women living in the slums. The main products proposed are micro-finance (loans and fixed deposits) and micro-insurance products (health insurance and life insurance during a loan duration).
If you want to know more about this outstanding history, you can watch the following video, presented by Medha Samant, during a Ted Talk.