Skip to main content

Fellow

Fellow

The member who satisfies qualification requirements as listed here under can apply for Fellowship by logging in their IAI account and accessing to the "Change of Membership" module. It is mandatory to fill all the details and remit the required Fees. Following documents to be uploaded as a part of submission, verification and approval.

There are mainly two routes, VIZ.,examination and MRA through which a student/ Associate member can apply for fellowship after qualifying/exemption of all Core Principle series (CS 1 & CS2, CM1 & CM2,CB1,CB2,CB3, all Core Application series (CP1 to CP3), any two of Core Principles series (SP1, SP2, SP3, SP4, SP5, SP7, SP8, SP9) and any one of Specialist Application series (SA1, SA2,SA3, SA4 & SA5) with additional conditions depending on the application route:

1.Fellowship (IAI Examination Route)- Conditions

  • Should be current student member of IAI
  • Minimum 3 years of work based actuarial experience*

3.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)]

Application Form for admission as Fellow Member (Examination Route)

2.Fellowship (Mutual Recognition Agreement Route-Other than IFoA, UK)- Conditions

  • 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 :
    • 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)]

Clarifications on experience:

  • 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 of experience certificate should have the following:

  • 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

Application Form for admission as Fellow Member (Other MRA Route)

3. Fellowship (Mutual Recognition Agreement Route-IFoA, UK)- Conditions

  • The candidate should have attained Fellowship of the IFOA by completing the qualification requirements of IFOA (not solely in recognition of membership of another actuarial association)
  • Should have entitled to practise as a member of the IFOA
  • In the event that there is no work experience requirement built into Fellowship of IFOA, which have completed, as at the date of your application, at least three years post-qualification practical work-based experience of actuarial practice
  • Have undertaken a professionalism course as prescribed by IFOA ; and
  • Authorisation to submit in writing for 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.

Application Form for admission as Fellow Member (IFOA- MRA Route)

4. Fellowship (Affiliate to Fellow)- Conditions

  • 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)]

Application Form for admission as Affiliate Member

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.