Finity Podcast

This episode is hosted by Finity’s Dominic Thorn and features Rade Musulin. Rade is a Principal at Finity, leading the firm’s Climate and Perils practice. He served as the sole representative of the International Actuarial Association delegation at COP29 in Baku, Azerbaijan.

In this episode, Dominic and Rade discuss the key messages, themes, and topics from the multi-week conference, which brought together political leaders, scientists, policymakers, and economists to address the challenges of tackling climate change. They also explore the implications for the Australian insurance industry, including the increasing need for climate resilience and risk management strategies.

Time Stamps

This episode is hosted by Finity principals, Marcello Negro and Edward Owen. Together, they discuss challenges and strategies for technology transformation in insurance.

Marcello Negro

Marcello is an Actuary and Principal at Finity who has worked in the general insurance industry since 2012. Marcello leads Finity’s Insurtech and start-ups practice, providing strategic and actuarial advice helping underwriting agencies develop their product, pricing and distribution strategies to launch their businesses. He has used his experience to develop innovative telematics motor products, embedded householders’ insurance offerings, as well as tech-enabled broker distributed business packages products.

Edward Owen

Eddie is a Principal at Finity and is part of the Artificial Intelligence team. He has extensive knowledge and experience in optimisation methods, statistical analysis, mathematical modelling and algorithms. Eddie has 22 years’ experience working on insurance applications. He has particular design and programming expertise, having made major contributions to Claims Outcome Advisor, Precedent and Talon.

Links

• Website | Finity.com.au

Timestamps

• 00:44 - Have you experienced an increase interest in use of technology in insurance?

This episode is hosted by Finity’s Managing Director, Scott Collings and Director, Andy Cohen.  Together, Scott and Andy reflect on the findings from Finity’s state of the market report - Optima, discussing FY23 General Insurance performance, as well as sharing in-house forecasts for FY24.

Scott Collings

Scott is a Principal and the Managing Director of Finity Consulting with over 30 years of experience in general insurance. He is a consulting actuary specialising in the financial and strategic management of General Insurance companies and Accident Compensation Schemes. Scott has been responsible for delivering actuarial advice across the spectrum of general insurance products with particular emphasis on reserving, pricing and capital management advice. His key focus areas include Appointed Actuary roles and leadership of Finity's Capital and Risk Management practice.

Andy Cohen

Andy Cohen is a Director and Principal of Finity and has over 30 years’ experience in the general insurance industry. He is or has been the Appointed Actuary to 14 insurance and reinsurance companies. Andy has extensive experience in a wide variety of insurance classes including workers’ compensation, public liability, lenders mortgage insurance, trade credit insurance, professional indemnity and reinsurance. He also provides advice on reserve levels, pricing, financial projections, capital management and reinsurance strategy.

Links

• Website | Finity.com.au

Time Stamps

• 01:16 - What was really driving the experts last year?

This episode is hosted by Finity’s Calise Liu, who is joined by Rade Musulin, a Principal at Finity (leading its climate and perils team), Actuaries’ Institute joint Actuary of the Year, and Head of the International Actuarial Association delegation at COP28 in Dubai.

From 28 November to 13 December 2023, representatives from countries around the world convened in Dubai, United Arab Emirates, for the 28th session of the Conference of the Parties (COP) of the United Nations Framework Convention of Climate Change (UNFCCC). Since 1995 the United Nations has convened the Conference of the Parties, bringing together political leaders, scientists, policymakers, and economic to address and discuss tackling climate change. COP is the main body that is responsible for monitoring and reviewing agreements such as the Paris Accord.

Rade Musulin attended both COP27 and COP28, and in this episode of the Finity Podcast he takes us through his key takeaways and insights from COP28.

Links

• Website | Finity.com.au

Time Stamps

• 01:28 - What is your role at COP?

Hosted by Finity’s team of experts, we explore the business and technology topics shaping and transforming our world today. Deep dive into the latest ideas and insights across insurance, financial services, automotive, climate and sustainability, as well as the related tech and tools.

Rade Musulin is a Principal at Finity based in Sydney. He is an US trained Actuary, and has 40 years’ experience in General Insurance specialising particularly in property pricing, natural perils, reinsurance, agriculture, catastrophe risk modelling, public policy development, and climate risk.

Sharanjit Paddam is an Actuary specialising in climate risk assessment, management and strategy. Using Finity’s models of extreme weather events, seasoned by decades of use by Australia’s insurance industry, to quantitatively assess climate physical risk at individual property level for insurers, banks, asset owners and governments.

Finity welcomes arguably the most significant recent development for sustainability-related business disclosures, the launch of the latest International Sustainability Standards Board (ISSB) comprehensive baseline global standards for climate disclosures and sustainability reporting. In this episode, Finity climate experts discuss the implications and opportunities.

Links

• Website | Finity.com.au

Time Stamps

• 00:19 - Why is this a topic at the moment and why now?