Amisha Arora, who finished school last year, has enrolled for an undergraduate course in Mors (Maths, Operational Research and Statistics) at the London School of Economics. Ask her, and she'll tell you that she intends to become an actuary.

And she's not the only one. Graduates of the Indian Institute of Technology, marketing personnel and even journalists are aspiring to enrol at the Actuarial Society of India. With nearly 70 per cent of actuaries being over 55 years of age, the profession has received a new lease of life thanks to the opening up of the insurance business.

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Professions like surveying and agencies are also seeing a rush of aspirants. Opening up of the business has also meant that new intermediaries like brokers and third-party administrators, who manage the back office for companies offering health insurance, have also entered the market.

The experience of companies and professionals can be described as a mixed bag. While successful agents are rushing to the bank, some TPAs may be in for a tough time after their first year of operations.

According to insurance companies, the services of TPAs have been patchy. "They are yet to put in place the required infrastructure, and this has resulted in consumers complaining to us," said an executive with a state-owned general insurance company. Some of the TPAs are also expected to be out of the panel of names considered by the insurers.

In the case of the over 700 registered surveyors, there is not much change despite a new system of categorisation put in place by the Insurance Regulatory and Development Authority.

"The problem lies in the mindset of consumers. Over a period of time, when companies become more strict about settling claims, surveyors will automatically fall in line," an executive pointed out.

Agents have been the success story so far. Between October 28, 2002, and July 28, 2003, around 683,000 agents were approved by IRDA and licences renewed for another 630,000.

The attrition rate, as in other parts of the world, has been quite high (over 50 per cent in the case of some life insurers). However, engineers, ex-defence personnel, doctors, and bankers, some over 80 years of age, have joined the profession.

"The quality of agents has improved because of the mandatory 100 hours training. The new agents can sell any product and their understanding is far better," said Archana Bhalerao, a highly successful Life Insurance Corporation of India agent.

In the case of brokers and corporate agents, another new breed of intermediaries in the liberalised post-2000, companies are reporting promising results.