Panchdeep Insurance Actuarial 2.0

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ESIC

Pragati (Insurance)

Actuarial

October 28, 2013 1




Introduction

Forecasting / Estimation and Risk Assessment on the basis of data and certain

formulae is the main activity of Actuarial Branch

Some of the activity of Actuarial Branch are -

Financial Implications for New Implementations as part of Phased Program.

Budget Estimates (No of IP’s, Employees, Employers) for current year and

next year.

Performance Budget (DB and PDB cases) for next two years.

Preparation of data for Statistical Abstract.

Preparation of data for Annual Report.

Capitalized Value for DB and PDB cases.

Actuarial Branch also provides Statistical Data to - Labour Bureau, Simla.

Data to Ministry of Labour.

External Actuary for Statutory Valuation.




Actuarial Calculations –Entry Triggers

Request from P&D branch for Financial Implications statement.

Request from Budget Cell of F&A department.

Request from Labour Bureau Shimla.

Request from PR cell for data for Annual Report.




Actuarial Calculations – Workflow

Pre-Implementation

Survey

Implementation of

ESIC Scheme

Submission of Data

Request for Data

Consolidation,

Calculation of Data




Output

• Financial Implication Statement.

• Budget Estimate

• Annexure for Annual Report

• Statistical Abstract

• Exposure to Risk Statement

Output generated

Actuarial Calculation

• Provides Cost Implication for NewImplementation

• Provides Income &Expenditure data

• Provides Med6, Med 6A Med 9 data

• Phased Implementation plan.

Provides Data

Data Preparation

• Calculates PAPE.

• Capitalized Value of DB and PDB cases

• Consolidation of No of IP’s, Employees and Employers

• Performance Budget for DB and PDB cases

Prepares Estimates

Branch Officer P&D ,Med, F&A

Branch Officer Actuarial




Actuarial Calculations – Exit Triggers

Financial Implication statement is generated

Data for preparation of Budget Estimate is generated.

Data for Annual Report and Statistical Abstract is generated.

Data for Performance Budget is generated.

Inputs for Statutory valuation is consolidated.


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Interfaces

Interface with F&A for Region-wise Income and Expenditure statement.

Interface with HIS for Med6, Med 6 A and Med 9 reports.

Interface with P&D for Phased program details

Insurance Module for PDB & DB details

Panchdeep Insurance Actuarial 2.0

Documents

Transcript of Panchdeep Insurance Actuarial 2.0