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Health Health Navigate today’s most pressing health industry challenges with a leading global expert by your side. Solutions Actuarial Consulting Analytics Government Market Entrants Operational Consulting Topics COVID-19 Global Health Population Health Management Insurance Insurance Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance. Solutions Analytics Appointed Actuary Asset/Liability Management Capital Management Captives & Alternative Markets Financial Reporting Financial Risk Management Independent Review Insurance-Linked Securities Mergers & Acquisitions Microinsurance Outsourcing Product Development & Pricing Reinsurance Reserving Risk Retention Analysis & Feasibility Studies Secondments Takaful Topics Milliman Climate Resilience Initiative Retirement & Benefits Retirement & Benefits Deliver on the promises of the past and create smart solutions for the future. Solutions Actuarial Valuations Risk Risk Manage complex risks using data-driven insights, advanced approaches, and deep industry experience. Solutions Analytics Cyber Risk Enterprise Risk Management Financial Risk Management Insurance-Linked Securities Mergers & Acquisitions Mortgage & Credit Risk Operational Risk Management Reinsurance Risk Adjustment Careers Bring your best ideas. Discover opportunities at Milliman. Current openings Careers This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are. Explore careers at Milliman Current openings About We’re driving positive change for people and communities across the world. Learn about the principles that guide us About Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security. Learn More Learn about the principles that guide us Our Story Social Impact Media Center Office Locations Contact Us Welcome to Milliman India Milliman has offices in Mumbai and New Delhi. We work in the areas of health insurance, employee benefits and life insurance. We focus on embedded valuation, BAU outsourcing, IPOs, M&A, data analytics, and pricing and capital management. Research Report 2022 embedded value results: Asia Insurers reported mixed embedded value (EV) results across Asia in 2022, increasing their investment return and discount rate assumptions, given higher bond yields. Read the article Article Overcoming the risks of actuarial outsourcing Well-managed actuarial outsourcing offers a viable solution to meet the increasing demand for actuarial resources. Read the article Solution IFRS 17 Using a multidisciplinary approach to tackle the operational and strategic challenges of IFRS 17. Learn more Featured product MedInsight Powered by the MedInsight Data Confidence Model, MedInsight bridges the gap between cost management and care management. Learn more Research report The feasibility of using machine learning techniques for health insurance pricing in India For India’s health insurance industry, application of machine learning techniques will help optimize marketing strategies, boost income, and reduce costs. Read the article Featured Products We’re driving the future with our analytics and modelling technologies Digital health and wellness Milliman RapidHRA Gain powerful insights into the health and risk profile of your employees—and give them the ability to monitor their own health and wellness. Flexible, secure, and cloud-based MillimanHRA provides objective, in-depth intelligence for better health. Learn more Claims processing and data analysis Milliman Health ClaimsRef Reduce errors and improve cost savings with standardized, consistent claims processing tools. Learn more Healthcare analytics MedInsight Adopt the healthcare industry’s leading platform for data warehousing and healthcare analytics. Learn more Economic Scenarios Generation Milliman Economic Scenario Generator The Milliman Economic Scenario Generator is a cloud-native economic scenarios generator that provides advanced modelling capabilities for both risk-neutral and real-world applications. The Milliman Economic Scenario Generator delivers secured regulatory compliance as well as production efficiency through its reactive web interface and integration-ready API. Learn more Financial Modeling Platform with Excel language Milliman MIND Milliman Mind is a flexible and easy-to-use web-based platform which automatically converts Excel spreadsheets into more powerful models. Learn more Goals-based modelling Goals-based Advice Platform The Goals-Based Advice Platform uses Milliman’s decades of actuarial expertise modelling risks for global insurance companies and applies it to retail investors. Learn more Thought leadership from Milliman offices across Asia Read the articles Insight Insight from Milliman Asia e-alert Malaysia: New Policy Document on MHIT business New guidance in Malaysia acknowledges a number of significant developments and challenges in managing Medical and Health Insurance/Takaful business. Read the article ASIA E-ALERT Bangladesh permits bancassurance On 1 March 2024, the prime minister formally launched bancassurance in Bangladesh, permitting banks to sell life insurance in the country. Read the article research report Participating business in Asia 2023 We detail the business for participating life insurance products across Asia, including eight major markets from a survey we conducted in 2Q 2023. Read the article Subscribe to Milliman Asia e-alerts to receive the latest research reports, papers and updates on regulations relevant to the region. Subscribe key consultants Meet some of the key consultants in India Philip Jackson Principal and Consulting Actuary Philip is a consultant in our life insurance practice, based in Mumbai. He supports our projects in India and the Asia-Pacific region. Philip is one of the key members of Milliman Asia IFRS 17 working group, working primarily on with-p... View bio Shamit Gupta Principal and Consulting Actuary Shamit is a Principal and Consulting Actuary in our life insurance consulting practice in India and is based in New Delhi. He joined the firm in 2010. View bio Heerak Basu Principal & Consulting Actuary Heerak is a consulting actuary with our life insurance consulting practice in India and is based in Mumbai. He joined the firm in 2018. Having worked in, and consulted to the Indian life insurance industry for more than 20 years Heera... View bio Richard Holloway Managing Director, South East Asia & India Life Richard is the managing director of Milliman’s South East Asia and India life consulting businesses, based in Singapore. Richard is well known across the region, having been working as a consultant in the region since 1995. He joined t... View bio Subhash Khanna Principal & Consulting Actuary Subhash Khanna is a consulting actuary with Milliman’s life insurance consulting practice in India and is based in New Delhi. He joined the firm in 2015. View bio Lalit Baveja Principal & Sr. Healthcare Management Consultant Lalit Baveja is a senior health care management consultant at Milliman’s India office and leads the clinical team. He joined the firm in February 2007. View bio Vandana Bhardwaj Principal & Sr Vice President, MedInsight Vandana Bhardwaj leads the overall management, P&L responsibility, operations, technical services, and product development functions for Milliman’s MedInsight® Practice in India. She joined the firm in 2005 and helped bui... View bio Rachin Aggarwal Principal & Senior Consultant Rachin Aggarwal is a principal and senior consultant in our New Delhi Health and Property and Casualty Practice. He joined the firm in 2008. View bio Leena Chakma Laloo Principal & Sr. Healthcare Management Consultant Leena Laloo is a senior healthcare management consultant with the New Delhi office of Milliman. She...