The role of the Actuary is key in the catastrophe modelling market. The Actuary serves as the conduit between several key stakeholders in the business, moving beyond the spreadsheet to analyse and communicate findings. At Oliver James, we are seeing more global insurers, re-insurers, and brokers using a professional recruitment agency to find a Natural Catastrophe Actuary. This demand aims to fully develop and enhance current methods and systems for cat risk exposure analyses.
The visibility of Actuarial jobs in risk management
As a result of increasingly frequent and severe natural catastrophe events, the Nat Cat Actuary position has become much more visible in the last two to three years. The analytical skills held by an Actuary are best suited to provide the oversight needed to price in a more competitive fashion. These professionals work to optimise the underwriting value of the portfolio while managing and mitigating cat risk exposure.
Last year, the World Economic Forum reported that less progress has been made against mitigating risks from natural disasters over the past 10 years than those against risks such as terrorist attacks or infectious diseases.
Driving progressive reform through Actuarial vacancies
Recent developments in catastrophe insurance appraise the likelihood of progressive reform within the UK/US insurance industry. This follows several announcements about innovative initiatives designed to engage with and help mitigate the enormous challenges posed by climate change, such as the introduction of FloodRe.
With greater surveillance from the regulator, insurers are under increased competitive pressures to protect their capital positions. Consequently, the spotlight is now firmly on the Natural Catastrophe Modelling Department to deliver optimum pricing, profitability, and added value to insurance firms. Although the Nat Cat Actuary is not a newly devised role, it is becoming a better defined niche as businesses seek robust thinking in risk and compliance jobs.
Why Nat Cat Actuaries are central to business value
In a catastrophe exposed world with fierce competition, these specialists are central in making sense of how to analyse and measure risk much more accurately and profitably. They establish best practice approaches and add value to the business as a whole.
If you are looking for new actuarial jobs, our team can help you find a role that matches your expertise.
Connect with a specialist recruitment agency
If you’re looking for actuary recruitment solutions or just a recruitment agency in general, contact our team to discuss how we can help your business. If you’re looking for your next actuary position, visit our jobs portal.
