India, 21st August 2023: The Institute and Faculty of Actuaries has awarded its Quality Assurance Scheme (QAS) accreditation to India’s oldest actuarial firm, K. A. Pandit. The Mumbai and Ahmedabad-based consultancy is the first actuarial employer in India to achieve this accreditation. K. A. Pandit has demonstrated its commitment, through an independent audit, to a working environment that allows actuaries to maintain globally recognised standards and develop their skills.
The QAS was officially awarded on Saturday 12th August, the birthday of the firm’s founder, Kantilal Anandrai Pandit. The accreditation also falls in the year that K. A. Pandit marks its 80th anniversary. The consultancy is well established in the Indian market with the founder’s family members still closely managing the firm. It provides actuarial and risk consulting services, specialising in employee benefits, insurance, and corporate solutions.
Kulin Patel, Partner/CEO of K.A. Pandit, said: “We are immensely proud at becoming India’s first accredited firm under QAS. QAS is more than just another accreditation scheme as it will help provide a strong compass, and a sense of independent accountability to continue to strive for the highest professional standards. The QAS is a great benefit for our clients and team members, as we continue to build on our rich history.”
The QAS recognises organisations that have demonstrated their commitment to three outcomes: Professionalism, Development and Training, and Organisational Culture. The scheme was established in 2016 and now covers 15% of the IFoA’s global membership and a quarter of its UK membership through 42 accreditations. The QAS is open to all employers committed to creating a working environment that supports actuarial excellence.
Matt Saker, IFoA President, said: “We are delighted to welcome K. A. Pandit to the QAS. It is especially exciting for the IFoA to be awarding this accreditation in India for the first time, to a firm with such a rich history in actuarial consultancy. The QAS is a great example of how we work in partnership with employers, supporting them and recognising the high standards they have in place. We look forward to working with K. A. Pandit over the coming years.”
