Welcome to the Institute of Actuaries of India

Student

Any person who enrolls himself for examination of the Institute, and possesses such qualifications as is specified, is admitted as a student member of the Institute on such terms and conditions as is specified. A student member shall not have any rights to vote on any matter or resolution in any meeting of the Institute. The detail criteria for student membership is available in following link:

ACET - Details

Associate

Student member who have passed/been exempted all Core Principle series (CS 1 & 2, CM1 & 2,CB1,CB2,CB3) and all Core Application series (CP1 to CP3) subjects is eligible (on application) to become Associate Member of the Institute. An Associate member is entitled to use the letters "AIAI" after his name to indicate that he is an associate. An Associate member is eligible to vote in the election to the Council.

Associate Membership Application Form

Fellow

Any person who satisfies any of the following criteria can be admitted as fellow member of the Institute;

Fellowship (IAI Examination Route) for Students / Associate

Criteria

Should be current student member of IAI

A Student member should have passed all the prescribed examination of IAI or should have been exempted from one or more subjects as per rules [Core Principle ( CS 1 & 2, CM1 & 2,CB1,CB2,CB3–Seven Papers), Core Practices (CP1 to CP3 – three papers), Specialist Principle (SP0, SP1, SP2, SP4 to SP9 -Any two out of eight) and Specialist Advanced (SA1 to SA7-any one out of five)]

Minimum 3 years of work based actuarial experience *

Attended India Fellowship Seminar (Validity - to be admitted as FIAI within 24 Months - counted from the month immediately succeeding the month of successful attending IFS Seminar) [Ref : IFS Principle Document (ver. 2.02/May 2012)]

Fellowship (Affiliate to Fellow Route)

Criteria

Confirmation from parent body that

He/She has attained fellowship by examination route. (Where IAI has Mutual Recognition Agreement)

His/Her subscription is up to date

There is no Public Disciplinary sanction imposed against him/her

Work Experience : (a) Have been ‘ordinarily resident’ in India for at least one year and have gained suitable actuarial experience in India (For Institute of Actuaries of Australia)

Three years period of substantive practical General Insurance Actuarial Work Experience whether pre or post FCAS qualification within the six year period immediately prior to the application for FIAI status (For Casualty Actuarial Society)

India Fellowship Seminar :
Attended India Fellowship Seminar (Validity - to be admitted as FIAI within 24 Months - counted from the month immediately succeeding the month of successful attending IFS Seminar) [Ref : IFS Principle Document (ver. 2.02/May 2012)]

Fellowship (MRA Route)

Criteria

Should be Fellow member of The Institute of Actuaries of Australia and The Casualty Actuarial Society

Confirmation from parent body that

He/She has attained fellowship by examination route

His/Her subscription is up to date

There is no Public Disciplinary sanction imposed against him/her

Work Experience : (a) Have been ‘ordinarily resident’ in India for at least one year and have gained suitable actuarial experience in India (For Institute of Actuaries of Australia)

Three years period of substantive practical General Insurance Actuarial Work Experience whether pre or post FCAS qualification within the six year period immediately prior to the application for FIAI status (For Casualty Actuarial Society)

India Fellowship Seminar :
Attended India Fellowship Seminar (Validity - to be admitted as FIAI within 24 Months - counted from the month immediately succeeding the month of successful attending IFS Seminar) [Ref : IFS Principle Document (ver. 2.02/May 2012)]

* Actuarial experience involving actuarial science as defined under section 2(1) (a) of the Actuaries Act, 2006 shall be considered for fellowship. The member should provide evidence of the experience and should justify that it involves application of actuarial science. (Decision taken in Council meeting dated 26 March 2016)
** Council vide in its meeting dated 25 March 2017 has decided that experience in General Insurance to be considered to include experience in Health Insurance.

Format for Experience Certificate

Must be printed on Company Letterhead

Name and Designation

Period of Actuarial Work

Brief description of Job profile Actuarial related work* and nature of work handled during the period e.g. Department, Responsibilities etc.

Must be signed by H R Manager or your Immediate Authority

Fellowship Application Form

IFOA Fellowship (Other Bodies - MRA Route)

Criteria

You have attained Fellowship of the IFOA by completing the qualification requirements of IFOA (not solely in recognition of membership of another actuarial association)

You are entitled to practise as a member of the IFOA

In the event that there is no work experience requirement built into Fellowship of IFOA, you have completed, as at the date of your application, at least three years post-qualification practical work-based experience of actuarial practice

You have undertaken a professionalism course as prescribed by IFOA ; and

You authorise in writing the IFOA to release relevant records to the IAI concerning any adverse disciplinary determination, finding, sanction and/or penalty, to which you been subject, in accordance with the IAI’s disciplinary process.

How to apply:
Please fill the Fellowship Application form – MRA Route (IFOA) and send the completed form to IAI office and through email at sandeep@actuariesindia.org nilima@actuariesindia.org

For any queries related to application form , please send email on above email id’s.

Format for Experience Certificate as under;

Must be printed on Company Letterhead

Name and Designation

Period of Actuarial Work

Brief description of Job profile Actuarial related work* and nature of work handled during the period e.g. Department, Responsibilities etc.

Must be signed by H R Manager or your Immediate Authority

Affiliate Member

Any person, who is a Fellow Member, or is a holder of membership considered equivalent to the Fellow Membership of IAI, of any other institution similar to the Institute, whether within India or outside India, is admitted as an affiliate member of the Institute. Currently, a person can be admitted as Affiliate member of the Institute only if Institute has Mutual Recognition Agreement with that Actuarial Body/Institute where the person is a fellow member (through examination route). An Affiliate member is not entitled to use the letters "FIAI" after his name. An Affiliate member shall NOT have any rights to vote on any matter or resolution in any meeting of the Institute.

Criteria for applying for Affiliate Member

Current Fellow of an Actuarial Professional Body where IAI has Mutual Recognition Arrangement (Currently IAI has MRA with Institute of Actuaries, Australia and Casualty Actuarial Society)

Confirmation from parent body that he has attained fellowship by examination route

There is no Public disciplinary sanction imposed against him/her

Affiliate Application form

Honorary Fellow Member

The Council may, by a vote of not less than four-fifths of all its members, admit as an honorary member, a person who, on account of his eminence and his experience in matters related to the profession of actuary is considered to be able to render assistance in promoting the objects of the Institute provided that he is not practicing as an Actuary. The person to be considered for such admission shall satisfy all the requirements prescribed by the Council and duly approved by a General meeting of the Institute from time to time. An honorary member shall not have any rights to vote on any matter or resolution in any meeting of the Institute.

Mutual Recognition Agreement

MRA between IAI & IFoA (UK) - 10 November 2021
MRA between IAI & IFoA (UK) - 17 February 2004
MRA between IAI & The Institute of Actuaries of Australia - 17 February 2004
MRA between IAI & The Casualty Actuarial Society - 06 November 2015