MUMBAI, Feb. 3, 2026 - Aon plc (NYSE: AON), a leading global professional services firm, today announced that ICICI Prudential Life Insurance Company Limited – one of India’s leading private life insurers – has agreed to a strategic collaboration to implement PathWise, Aon’s high-performance modelling platform, across its actuarial modelling landscape.
Aon’s PathWise solution will enable ICICI Prudential Life Insurance Company to seamlessly develop all its actuarial models across regulatory and reporting regimes. Notably, Aon and ICICI Prudential Life Insurance are collaborating to develop a clear roadmap to progressively extend usage of the PathWise platform to cover the entire business portfolio.
The deployment of PathWise provides ICICI Prudential Life Insurance Company’s actuarial team with intuitive model development tools and a high-performance computing environment to support its actuarial modelling processes with an initial focus on 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. PathWise will also strengthen controls and support more consistent and transparent results across the life insurance portfolio. These benefits will allow ICICI Prudential Life Insurance to focus on long term strategic initiatives in the dynamic and rapidly expanding Indian life insurance market.
The implementation of PathWise aims to enhance ICICI Prudential Life Insurance Company’s ability in the following areas:
• Run large scale, high granularity projections to meet reporting timelines.
• Greater ability to handle complex actuarial modelling.
• Support regulatory and shareholder reporting and other actuarial processes.
• Improve operational efficiency and create a foundation for driving innovation in actuarial modelling
Van Beach, Aon’s global head of Life Solutions, said: “This collaboration represents not only an opportunity to work with an experienced, leading company such as ICICI Prudential Life Insurance, but to also to play a part in driving rapid growth in India’s life insurance market. We are seeing how significant advances in technology are benefiting companies in many different sectors globally, and with PathWise we are showing that the same benefits can be achieved in the life insurance market.”
Souvik Jash, Chief & Appointed Actuary of ICICI Prudential Life Insurance, said: “It has been great to work with Aon, and we believe PathWise will help us to increase our speed and efficiency in the Indian marketplace, while meeting evolving regulations. We anticipate the collaboration will go from strength to strength as this marketplace continues to grow.”
PathWise is a high-performance GPU-based modeling platform that delivers enhanced speed, automation, and governance to clients across complex actuarial processes. It is part of Aon’s Life Risk Modelling Suite, which offers enterprise solutions for pricing, projections, valuation and hedging.
In 2025, Aon announced the launch of its life and health reinsurance practice in India to drive new capital into the sector and help shape better decisions for clients.
For information about Aon’s Reinsurance Solutions: https://www.aon.com/en/capabilities/reinsurance
About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
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