Actuary - Motor

The Actuary of Motor provides regulatory actuarial leadership on pricing, reserving, capital and solvency for motor insurance. The role supports NIS implementation, develops and validates supervisory models and stress tests, and converts analytics into guidance, circulars and policy proposals.

• Set motor pricing and reserving standards, defining approaches to parts and labor inflation, coverage and deductible design, risk segmentation, repair network arrangements, and claim provisioning including IBNR, IBNER, and ULAE.
• Collaborate with Strategy, and other Deputy CEOs from Policymaking, Prudential Supervision, and Market Conduct to translate analytics into guidance notes, circulars, and sector policy proposals for motor insurance.
• Run motor experience studies on frequency and severity by peril, exposure and expense patterns, fraud or leakage indicators, and repair-cycle times; publish benchmark tables for supervisory use.
• Review motor product filings including compulsory and comprehensive coverages and add-ons; assess underwriting rules, exclusions, rate adequacy and fairness, and recommend remediation where required.
• Monitor repair and adjuster networks including parts indices, labor rates, salvage and subrogation recoveries, and turnaround times; coordinate with Market Conduct on consumer outcomes and corrective actions.
• Evaluate reinsurance programs including quota share, excess of loss, catastrophe covers and stop-loss; assess true risk transfer, counterparty concentration, and collateral sufficiency.
• Lead stress testing for inflation surges, frequency spikes, legislative or judicial shifts, catastrophe events and supply-chain shocks; opine on capital adequacy and recommended management actions.