ESIC

Pragati (Insurance)

Actuarial

October 17, 2013

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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 IPs, 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 Request for Data Survey

Consolidation, of Implementation Calculation of Data ESIC Scheme

Submission of Data

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Actuarial Calculation
Data Preparation
Provides Data Prepares Estimates

Provides Cost Implication for New Implementation Provides Income &Expenditure data Provides Med6, Med 6A Med 9 data Phased Implementation plan.

Calculates PAPE. Capitalized Value of DB and PDB cases Consolidation of No of IPs, Employees and Employers Performance Budget for DB and PDB cases

Output
Output generated

Branch Officer P&D ,Med, F&A Branch Officer Actuarial

Financial Implication Statement. Budget Estimate Annexure for Annual Report Statistical Abstract Exposure to Risk Statement

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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

October 17, 2013

Confidential Copyright 2009 Wipro Ltd