Lights, Camera, Actuary

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LIGHTS, CAMERA, ACTUARY!

Bolton Associates’ focus is specifically in the non-life actuarial space; the largest dedicated GI actuarial specialist in the market.

Working throughout the insurance market, the consultants at Bolton Associates offer an exceptional service, managing the process with the utmost tact and respect for all parties.

We are passionate about our market, taking great interest in the insurance world as a whole, keeping up with trends and changes, and maintaining our everexpanding network.

The next focus for Bolton Associates’ Spotlight page, is an interview with a leading actuary within one of the market’s actuarial technology providers. As the world, including the Lloyd’s and London Market, look to use AI techniques, and automated modelling in our data-rich world, both self-starters and larger corporations have turned their gaze and interest to using technology and modelling to automate systems, generate prices and break boundaries. These providers to the insurance markets, know what both underwriters and brokers need, and how the actuaries within them can benefit from the tools and software they can provide. For the next few months Zoe Bolton will be talking to the senior actuaries in these firms, getting a brief insight into their career paths and visions for the future. This month Zoe talks to Bharat Amin, Head of Insurance R&D at QOMPLX.

What is your current role, and how did you end up in it?

Director of Insurance R&D

What is the defining moment of your career to date?

Hard to choose one moment. I had a lot of fun working in previous underwriting teams, but in recent times launching an MGA and rolling out new products on our platform was pretty special.

In your opinion, what prepared you best to take on your current role?

A background of playing around with new technologies and techniques and enjoying doing so! I think you’ve got to enjoy what you do because you spend an awful lot of your life at work.

On the management side, working in teams my whole career has helped me pick up things that work and things that don’t. There are even techniques I’ve used from the sports teams I’ve been in. You hear it a lot and I appreciate it more than I did at the beginning of my career, but the human element is so important in how a company develops.

What is the biggest challenge you face in your role within this market?

Bridging the gap between the tech and the insurance world. Insurance still has a lot of ingrained ideas about how technology should fit together and the movement to new methods needs to be explained and reasoned.

Similarly, developers see things differently and are not aware of solutions that have been tried and tested in the insurance world for years.

Integrations between external systems that use different frameworks has been a real learning curve here. That is where communication skills and relationship building really come into their own.

How does your actuarial training and background assist in your day-to-day role now?

After studying for some of the exams, I think you have the confidence to take on any new course or form of learning. This really helps in the technology space where things change so rapidly.

Those endless hours spent reconciling data and tracking down unusual results in output have also come in handy. Debugging and problem-solving technology with modern levels of complexity is only going to get more fun!

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 in 2004. It’s very difficult to map your career, things will undoubtedly move and change around you, with resignations, mergers, acquisitions, and personal life. But if you align yourself with the business and provide value, you’ll always be in a good position.

If you had your time again, what would you do, career-wise?

I’d pursue my areas of interest sooner, without consideration of reward and recognition. Those will come later, just enjoy the journey.

Please share your favourite piece of trivia with our readers!

There are 336 dimples on a regulation golf ball.