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Citius, Altius, Fortius: How can actuaries reinvent themselves?
Financial Services Forum 2016
The purpose of the presentation is to delve into areas where actuaries can expand their reach in the next 5 to 10 years in order to reinvent themselves to stay relevant in a very competitive market.
The presentation explores emerging non-traditional areas that actuaries are ripe to contribute in given existing skillsets and potential future capabilities being developed within the profession. We will discuss how actuaries can reinvent themselves to be influencers in these non-traditional areas.
We will also consider how actuaries can reinvent themselves in the core/traditional areas of practice such as General, Life and Health insurances as well as Superannuation and Banking. We will explore factors driving change in each of the traditional areas, the impact on traditional actuarial work and how actuaries can move beyond the current involvements into being strategic influencers in the traditional areas.
Role of technology, artificial intelligence, digital/social media and other societal changes will feature in the above exploration.
Presentations will be uploaded after the conclusion of the Financial Services Forum.
The Presentation is available here.
The Audio is available here.
About the presenters
Kaise is a Partner in Consulting and advises general insurers and reinsurers on a range of matters covering Board and Management insurance reserving advice, corporate strategy, reinsurance programs, claims and capital management, pricing advice on large/complex deals and Appointed Actuary and External Peer Reviewing roles. Kaise’s international experience covers the Australian, New Zealand, South East Asian and European insurance markets.
Marc has a variety of life insurance experience in both the Australian and UK markets. Having grown up in South Africa, he qualified and spent a number of years working in the UK. He transferred to Australia in 2014, and continues to work in consulting at Deloitte.
He has experience in a wide range of areas including: traditional life insurance, reinsurance, banking and general statistical analysis.
He has managed actuarial audits, regulatory reviews, EV reporting, pricing, business planning and transformation work, within life insurance and reinsurance; as well as M&A due diligences within mortgage banking.
He is a co-author of the Actuaries Institute White Paper on the future of big data within insurance and underwriting, and has a keen interest on the future of the actuarial profession and ensuring actuaries remain relevant.
Magnolia is a Manager in the Actuaries & Consultants practice. She is a qualified UK and US life actuary and has over 17 years’ experience in the financial services industry in the United Kingdom, Asia and recently Australia. Prior to joining Deloitte in July 2015, she worked several years in the UK for Lloyds Banking Group which has over £100bn of liabilities.
Magnolia has developed a wide range of skills in life insurance reporting, asset-liability management, bonus-setting for participating life contracts, agency compensation review, pricing, and Solvency II.
In Australia, she led Deloitte’s thought leadership on Life Insurance Capital Report and has managed actuarial audits for life insurance and reinsurance companies. She was also involved in providing advice to a client on participating contracts.
Magnolia has a keen interest in the future of the actuarial profession and how actuaries can reinvent themselves given latest developments on regulation, market and technology.