Confidential © Copyright 2009 Wipro Ltd ESIC Pragati (Insurance) Actuarial October 28, 2013 1
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ESIC
Pragati (Insurance)
Actuarial
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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.
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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.
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Actuarial Calculations – Workflow
Pre-Implementation
Survey
Implementation of
ESIC Scheme
Submission of Data
Request for Data
Consolidation,
Calculation of Data
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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
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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
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Thank You
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