What is your current role, and how did you end up in it?
I joined Hamilton Underwriting Limited in March this year as Chief Actuary and CRO. After five years at Chubb I was ready for a change, and Hamilton’s vision about writing the future of risk, and the importance of data, was naturally very appealing to me.
What is the defining moment of your career to date?
Maybe achieving Solvency II compliance for the first time – I’ve probably never been so relieved about any particular result at work. At times it felt like the project would never end!
In your opinion, what prepared you best to take on your current role?
My role is extremely broad, so being Chief Actuary of a small Syndicate previously, where I worked closely with all areas of the business, was invaluable experience.
What is the biggest challenge you face as a Chief Actuary and CRO within this market?
Balancing the regulatory requirements against doing as much as possible to help the business manage the significant risks that the current environment brings. I’d love to be able to say that they are the same thing, but they often feel like very different problems with different solutions. On the risk side, the aim is to establish a risk framework that delivers robust risk understanding and management, and a strong risk culture, without actually discouraging the taking of risk.
In 2016 what is your aim for defining the actuarial and analytics division within your firm?
I’ve never experienced such poor market conditions, and I firmly believe that some very difficult times are ahead for some insurers. So the focus has to be on bringing the actuarial skillset into the underwriting strategy and decision making. Also, as a relatively new managing agent, embedding high quality analytics in all areas throughout the business is very important this year, and will help build on the strong foundations of the actuarial team within Hamilton.
When did you first join the Institute & Faculty of Actuaries, and what advice would you give to those students looking to emulate your career path?
I joined the IFoA in 2003, and would advise students joining now to always be proactive in their role. By trying to get involved in as much variety of work as possible, they might be surprised how quickly they can add value to an insurance business.
If you had your time again, what would you do, career-wise?
I’d like to say Marine Biologist, but if I’m honest I’d probably still end up as an actuary. If you’re good at Maths, and not much else, it’s a pretty good option. However if I started out again on the actuarial path I’d definitely try to do it in warmer countries.
Please share your favourite piece of trivia with our readers!
Did you know that more people are killed each year by falling vending machines than by sharks?
|
