We sat down with Alan Merten from Deloitte to discuss the positives and negatives of having one person filling both the Chief Actuary and Appointed Actuary roles.
The use of spreadsheets remains highly common among finance and actuarial teams. Traditionally employed for increasingly critical business functions, they allow for quick and flexible analysis of data, but with this flexibility comes complexity. As the reliance, overuse and undue trust of spreadsheets increases so does the danger they bring.
On Thursday the 17th of November, we held the first ever Shifting Gears half day event in beautiful Sydney, Australia. With an enthusiastic group of attendees listening intently to our talented group of speakers, the event was a wonderful way to spend the morning. There were many great ideas tossed around, and innovative insights offered up about the changing horizon of the insurance industry.
It’s no secret that actuaries do a reasonable amount of coding throughout their working life; most of which is used to setup and maintain actuarial models for a range of tasks eg. valuation, regulation, strategy and pricing. But actuaries aren’t software developers, and so they should take the opportunity to learn a thing or two from one.
Targeting customers at the right time, with the right offer, and generating a satisfactory return on investment is no easy ask. The chance of achieving these goals is greatly improved, however, in organizations where data management strategies have delivered the marketing ‘Holy Grail’ — a single customer view. Here’s how it’s done…