Sunil Padasala

About Sunil Padasala

As a fully qualified actuary (FIA and FIAI) with over a decade of experience, I lead the…

Experience

1. Actuary

   Cholamandalam MS General Insurance Co. Ltd.

   May 2024 — Present · Chennai, IN

   As the head of the actuarial team at Chola MS General Insurance, one of India’s fastest-growing general insurance companies with a portfolio of approximately $1 billion in GWP, I play a crucial role in shaping the company’s risk assessment, pricing strategies, and financial planning. Working under the appointed actuary, I oversee key actuarial functions, including pricing, reserving, regulatory reporting, and portfolio monitoring.My pricing responsibilities span multiple lines of business, including motor, health, fire, non-motor, and specialty insurance products. This requires a comprehensive approach to balancing competitiveness with sustainability, ensuring profitability while maintaining regulatory compliance. In particular, I have led efforts in developing Generalized Linear Models (GLMs) for the motor line of business, providing enhanced predictive capabilities for risk selection and pricing optimization.Beyond pricing models, I have contributed to the development of innovative methodologies for estimating Incurred But Not Reported (IBNR) and Incurred But Not Enough Reported (IBNeR) reserves, enhancing the accuracy and reliability of reserving processes. Additionally, I have worked on advanced demand forecasting techniques, supporting business strategy by providing data-driven insights into market trends and customer behavior.A significant aspect of my role has been team development—I have grown the actuarial team from three to ten members, ensuring a strong pipeline of actuarial talent. Mentoring actuarial students is a key part of my responsibilities, helping them refine technical skills and develop a deeper understanding of industry practices.Beyond technical actuarial work, I actively contribute to defining the company’s strategic intent for the year, leveraging analytics and risk assessment to shape business decisions. Through these initiatives, I aim to drive both financial stability and sustainable growth for Chola MS General Insurance.