The Hindu Business Line : IRDA seeks analysts

The Insurance Regulatory and Development Authority (IRDA) has invited applications from analysts for analysing the data that was collected by the Tariff Advisory Committee (TAC). This data now needs to be analysed from the actuarial and ratemaking point of view so as to be used in the ensuing detariffed regime. The TAC had collected data from the general insurance companies on motor and health insurance for the years 2003-04 and 2004-05. In a notification here, IRDA said before a final analysis was contemplated, it becomes necessary that a preliminary exercise need to be conducted on the collected data so as to assess the usefulness of the data from the analytics point of view and for ratemaking purposes. The insurance regulator said agencies based on the in-house technical capabilities and with proven experience in the analysis of general insurance data would be short-listed as service providers at a later date. This would be based on the preliminary exercise that they would undertake now on the available data. The agencies with proven experience in the analysis of general insurance data were asked to express their interest by approaching the IRDA within 21 days from May 26.

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