KATHMANDU, DECEMBER 8
Dynamic Thinkers, a skilled team of Nepali students from Tribhuvan University, achieved the prestigious 1st runner-up position at the Actuarial Innovation Challenge 2024, organized by the Institute and Faculty of Actuaries (IFoA) and sponsored by the Institute of Actuarial and Quantitative Studies (IAQS). The final round of this two-month-long competition was held at Hotel Andaz, New Delhi, during the IFoA India Conference.
This year's competition revolved around creating sustainable and viable insurance products for disadvantaged communities. It attracted widespread participation across South Asia, with 150 teams registering and 57 submitting innovative proposals. After rigorous evaluation, 22 teams, including seven from Nepal, advanced to the semi-finals. Of these, 10 teams reached the finals, with Nepal represented by five strong contenders.
Dynamic Thinkers, comprising Kunal Kumar Sah, Lovelish Thapa, and Shamila Lamichhane, all eighth-semester Actuarial Science students from Tribhuvan University, impressed the judges with their innovative product Aqua Surakshya. The insurance solution addresses water contamination risks and structural damage to water tanks, tailored specifically to meet the needs of rural Nepal. Their proposal earned them a certificate and an Amazon voucher worth INR 30,000, presented by IFoA President Kartina Tahir Thomson.
"We are thrilled to have represented Nepal on this international platform and hope to inspire others to pursue excellence in this field," said the team, expressing their gratitude and excitement.
