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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.

Navigating a global pandemic

How will the coronavirus transform healthcare, retirement, and insurance?

India: Participating business management and asset shares

This report presents the results and insights from a fresh survey of Indian life insurers, covering their participating business management and asset share calculation approaches.

Medical inflation and health insurance products in India: Current practices and the way forward

This paper discusses the common definitions of medical inflation, factors driving medical inflation in the short and long term and current medical inflation trends in India.


Using a multidisciplinary approach to tackle the operational and strategic challenges of IFRS 17.


Powered by the MedInsight Data Confidence Model, MedInsight bridges the gap between cost management and care management.

Milliman’s first Microinsurance Supply-side Study of Asia

Highlighting insurer perspectives of the microinsurance market and challenges faced by providers in Bangladesh, China, India, Indonesia and the Philippines.

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.

Insurance risk assessment
Claims processing and data analysis

Milliman Health ClaimsRef

Reduce errors and improve cost savings with standardized, consistent claims processing tools.

Healthcare analytics
Healthcare analytics


Adopt the healthcare industry’s leading platform for data warehousing and healthcare analytics.

Predictive analytics
Economic Scenarios Generation

Milliman CHESS

CHESS is a cloud-native economic scenarios generator that provides advanced modelling capabilities for both risk-neutral and real-world applications. CHESS delivers secured regulatory compliance as well as production efficiency through its reactive web interface and integration-ready API.

Software performance enhancement
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.

Goals based modeling
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.

Thought leadership from Milliman offices across Asia

Subscribe to Milliman Asia e-alerts to receive the latest research reports, papers and updates on regulations relevant to the region.

key consultants

Meet some of the key consultants in India

Philip Jackson headshot

Philip Jackson

Principal and Consulting Actuary, Life Insurance

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...

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Shamit Gupta

Principal & Consulting Actuary

Shamit Gupta is a consulting actuary with Milliman’s life insurance consulting practice in India and is based in New Delhi. He joined the firm in 2010.

Heerak Basu headshot

Heerak Basu

Principal and 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...

Richard Holloway

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...

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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.

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Lalit Baveja

Principal & Senior 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.

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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...

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Rachin Aggarwal

Consultant – Healthcare

Rachin Aggarwal is a lead consultant in the Milliman New Delhi Health and Property and Casualty Practice. He joined the firm in 2008.

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Leena Chakma Laloo

Principal & Sr. Healthcare Management Consultant

Leena Laloo is a senior healthcare management consultant with the New Delhi office of Milliman. She joined the firm in 2007

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Abhishek Agrawal

Sr. Healthcare Management Consultant

Abhishek is a senior healthcare management consultant at Milliman’s India office. He leads health data analytics projects for Milliman clients in India and globally. Abhishek started working at Milliman in India in 2005. He ventured ou...

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Dr. Sudhanshu Bansal

Senior Healthcare Management Consultant

Sushanshu is a medical doctor, currently working as a healthcare consultant in Milliman's India office. He joined the firm in January 2007.

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Joanne Buckle

Principal & Consulting Actuary

Joanne is the lead consultant in the Milliman London healthcare practice. She has been at Milliman since 2001, including 18 months in the New York City office.

Whatley Mark

Mark Whatley

Consulting Actuary

Mark is a consulting actuary in Milliman's Singapore office. He joined Milliman in 2017. Mark provides independent and objective consulting advice on employee benefits to multinationals, local companies and government-linked organisati...

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