Actuarial Innovation Challenge 2024

Stand a chance to win prizes worth ₹100,000 in the Actuarial Innovation Challenge 2024.

We are excited to announce the launch of the Actuarial Innovation Challenge 2024, a nationwide competition for university students in India run jointly by the Institute and Faculty of Actuaries (IFoA) and the Institute of Actuarial & Quantitative Studies (IAQS).

If you’re studying STEM, commerce, economics or mathematical-based subjects that could lead to an actuarial career, this event is not only a chance to win prizes, it’s an opportunity to engage with the actuarial community, make important professional connections and showcase your skills.

You’ll be competing against India’s finest undergraduate minds, finding solutions to real-world actuarial problems to win cash-equivalent prizes and see your work shared with a wide professional audience, including potential employers.

 

Who can take part

The competition is open to first, second, or third-year undergraduate students in STEM, commerce, economics, mathematics or other courses that could launch an actuarial career. Each team may have up to three members, and each college can have a maximum of four teams.

 

Why participate?

• Showcase your skills: You’ll show a national professional audience how you apply your actuarial abilities in a real-world setting.
• Network with professionals: You’ll meet leading professionals as well as fellow students, giving you important connections in the actuarial field.
• Win exciting prizes: Compete for prizes worth ₹100,000 and recognition from industry experts as well as your peers.
• Gain valuable experience: Develop critical thinking, teamwork and presentation skills throughout the competition.

 

Competition structure

1. Registration:

Register online. Find the link in how to take part below.

2. Response:

Find the challenge question and guidelines, as well as the forms you need to prepare and send your submission, in how to take part below.

3. First round:

The top 20 teams will be selected based on the accuracy and creativity of their submissions.

4. Semi-final round (online):

Selected teams present their solutions online to a panel of judges.

Top 10 teams advance to the final round. We will give some additional questions and increase the complexity.

5. Final round (in person at the IFoA India Conference on 29 November):

Finalists present their enhanced solutions in-person during IFoA India Conference 2024 at Hotel Andaz, New Delhi.

The winners are announced during the event.

 

 

Important dates

• Registration opens: 9 September
• Registration closes: 7 October
• Screening round submissions due: 7 October
• Announcement of screening-round winners: 17 October
• Online semi-final round: 28 to 30 October
• Announcement of finalists: 31 October
• Grand finale at the conference: 29 November

 

Prizes and recognition

• Cash prizes: Attractive prizes worth ₹100,000 shared among the top three teams.
• Certificates: All participants will receive digital certificates that recognise their contributions.
• Have your work seen: Winning case studies will be published on the competition website and in the IAQS magazine.
  

 

Judging criteria

• Accuracy and relevance: How well does your solution address the actuarial challenge?
• Creativity and innovation: What unique approaches have you used to solve the problem?
• Presentation skills: How clearly and effectively do you communicate your ideas?

 

How to take part

Register:

To register your team, please fill out the online competition registration form.

Register now

Prepare your solution:

Once you have registered, please download our guidelines that outline the challenge question. They also provide some hints and tips of what you should research and consider when coming up with your solution.

Download challenge question and guidelines (PDF, 130 KB)

Submit your solution:

Submit your presentation slides in PDF format by 7 October. Only one entry per team, submissions must adhere to the guidelines provided.

Submit entry