From actuary to underwriter: Building an insurance company from scratch

In this episode of The Underwriting Intelligence Podcast, Amrit sits down with Sima Ruparelia, President and Active Underwriter at Niyam, to explore what it takes to build a modern insurance company from the ground up and why India may represent one of the most significant growth opportunities in global insurance today.

Having spent her career in leadership roles across some of the industry's largest organizations, including Catlin, AIG, and PartnerRe, Sima shares the journey that led her from actuarial and analytics leadership into underwriting and entrepreneurship. The conversation explores the launch of Niyam, the first Lloyd's syndicate operating from GIFT City, and the unique opportunity to help expand insurance penetration in one of the world's fastest-growing economies. From underwriting philosophy and portfolio construction to AI, data strategy, and the future of insurance infrastructure, Sima offers a fascinating perspective on how new entrants can leverage technology, talent, and global expertise to build differently from day one.

In this episode, Amrit and Sima dive into: Why Sima left global insurance giants to help build Niyam from scratch What it takes to launch the first Lloyd's syndicate operating from GIFT City Why India represents one of the most important growth markets in global insurance How reinsurance capacity can support economic development and infrastructure investment The balance between portfolio growth and underwriting discipline in a new venture

Whether you're an underwriter, actuary, insurance executive, founder, or technology leader, this episode offers a unique look at the intersection of entrepreneurship, global insurance markets, and the next generation of underwriting innovation.