Utkarsh Srivastava

Life Insurance (Jan 2022 - Jan 2024)

US client

Enterprise Risk Management Team Member – Developed and automated key processes by creating Python-based applications and tools, enhancing data processing efficiency and ALM (Asset Liability Management) workflows.

Polysystem(actuarial model) - Used polysystem model for getting the final liability values for projection purpose as well as for valuation purpose for US products(GUL) and Japan life product.

Projects in which I have contributed or responsible for

ALM 2.0 - Helped the ALM team to better manage assets and liabilities by implementing appropriate investment strategies. This involves running the Polysystem model and then the ALM 2.0 model based on C++ and Excel.2.0 model based on C++ and excel.

Polysystem (Actuarial Model) - Validating the MVA(Market Value Adjustment) calculation performed in the Polysystem vs in the excel tool vs in python.

Risk Management -

Conducted 1,000-scenario stochastic interest rate analysis, calculating NPVs for each scenario. Computed risk metrics including CTE and VaR, and performed trend analysis with visualisations. Developed a tool in Poly, Python, and Excel (Power Pivot) to efficiently process and analyse 1,000 scenarios.

GAAP TIDR -

Data visualization/Dashboard/Data Management

Developed python based dashboards on GUI (Graphical User Interface) for GAAP TIDR, VM – 22. Improve the data flow for the company by removing the manual process of pulling data from excel.

General Insurance (Feb 2024 - July 2024)

Indian Client

IFRS implementation for Indian Client. Was part of the DSP team which involves data gap assessment, BRDs, vendor evaluation.

Data Gap assessment - Was part of the data gap assessment team where we identify the gaps, provide the solution with respect to IFRS 17 data gap. This includes regular client meeting, understanding the clients system.

BRD(Business Requirement Document) - Has developed a BRD document from scracth which will be used for TSD (Technical Specification Document) by the IT team. Again this involves regular meeting with the client and also with internal higher management to understand the data cashflows, how best the solution for it could be.

RI PAA eligibility testing - Has conducted the RI PAA eligibility testing which includes running the model and comparing the results with between GMM and PAA. This includes providing the walkthrough to the client and updating the position paper, using the industry data to derive the industry-level loss ratios.

Data flow - Understanding data flow and system for various vendor for IFRS 17 system implementation which includes big companies such as WTW, SAP, SAS.

Project Plan - Has worked on project plan development for the team.

Responsible to act as an interface between the Life Insurance companies and IIB across QUEST, life database and PRISM model focusing on ensuring proper output results are processed and sent to the respective companies.

QUEST - Processing the output result from the QUEST tool, which involves uploading the input file sent by the companies into the QUEST portal and generating output from it.
▪ Rectification of QUEST input files in the proper format required for uploading and communicating with the respective company person if any issue arises.
▪ PRISM (Predictive Life Risk Scoring Model) - Processing the output result from the PRISM model by running the model in the SQL server, and sending it to the respective company in the timely manner.
▪ Performed significance testing in the PRISM model to identify which parameters are significant.
▪ Life database – Extracted data from life database using SQL server for all life insurance companies, calculated Exposure in age and duration which was quoted in the Life factbook published by IIB.
▪ Prepared statistical checks document which consists of various parameter wise results for all the life insurance companies.
▪ Performed consistency checks between the years and various parameters for the companies, identifying the inconsistency and communicating with the company about potential problem in the database.
▪ Helped the Life team develop a bespoke report for Aditya Birla Sun life by making a table showing Claim incidence and Claim severity for the company with respect to Banca Insurers and Non – Banca Insurers.
▪ Built a report for IRDAI showing Millennial records in the appropriate format.