FOR MAKING THE FUTURE FEEL LESS UNPREDICTABLE

Actuaries build the backbone of our business. They calculate costs and determine technical prices and help design our products. As strategic thinkers with a deep understanding of financial systems, our actuaries play a key role for the stability and future development of Allianz, and have a direct impact on business decisions.

They work as business partners and consultants with our product managers and underwriters and provide technical expertise to ensure our products are best-serving our customers while enabling Allianz to be more profitable and more competitive.

The responsibilities of our actuaries are manifold:

• Pricing Actuaries work alongside Underwriting with the goal of building and maintaining a profitable customer base. They analyse past data to predict future claims experience and determine technical price. This work forms the basis for how we proce our insurance products on the market, in order to achieve this goal.
  
• Reserving Actuaries analyse past claims development data in order to determine the reserves that need to be held to meet future claims payments and to predict future claims trends.
  
• Capital Modelling Actuaries work within the tails of the claims distribution. Their analysis determines the probability of extreme events occuring, and how much capital should be held to allow for such events.
  
• Risk Management Actuaries are responsible to managing and mitigations risk across the whole company - from the direct risks of writing insurance, to market and credit risk, as well as operational risks.
  

Our actuaries have access to the latest data, our financial management systems as well as our group wide analysis and valuation methodologies.
They work with a broad range of software including Excel, SAS and R, as well as leading data modelling software like Willis Towers Watson.

Actuaries are in a privileged position of working with a broad range of stakeholders across the company including Underwriting, Finance, Claims, Operations and the various other Actuarial functions. This gives them the opportunity to drive change within the company and shape how the business is run.
Actuaries working for Allianz Ireland also have the opportunity to collaborate and exchange knowledge with other Allianz Entities, ensuring we are always at the forefront of technical expertise.