Aon introduces its high-performance modelling platform, PathWise, to the Indian market through a strategic collaboration with ICICI Prudential Life Insurance Company. ICICI Prudential, one of India’s leading private life insurers, will implement the platform across its actuarial modelling landscape to meet evolving market capital and reporting requirements. The deployment provides the insurer’s actuarial team with intuitive model development tools and a high-performance computing environment. Initial focus for the partnership includes the Indian Risk Based Capital Framework (IRBCF) and IFRS 17 (Ind-AS) reporting. By consolidating its models within the single PathWise platform, the company aims to improve run times, which have been demonstrated to be significantly faster and more scalable. The collaboration includes a roadmap to progressively extend PathWise usage across the firm’s entire business portfolio, enhancing its ability to handle complex actuarial modelling and large-scale projections. Van Beach, Aon’s global head of Life Solutions, says: “This collaboration represents not only an opportunity to work with an experienced, market-leading insurance company, but also a significant milestone for Aon as we bring PathWise to the Indian market. We are committed to supporting ICICI Prudential Life Insurance in its journey towards actuarial modernisation and helping them navigate the complexities of the evolving regulatory landscape.” PathWise is designed to manage large data sets and provide faster results across complex actuarial processes. It forms part of Aon’s Life Risk Modelling Suite, which offers enterprise solutions for pricing, projections, valuation and hedging. The move follows Aon’s 2025 launch of its life and health reinsurance practice in India, aimed at driving new capital into the sector.
