Meet Abigail, Graduate Actuarial Analyst at QBE Insurance

I’m Abigail, a Graduate Actuarial Analyst at QBE, currently working in the Capital Modelling team. My journey with QBE began in 2021 when I joined as a placement student during my Actuarial Science degree, spending a year in the Reserving team.

After completing my degree, I returned to QBE as a graduate in 2023, rejoining the reserving team to build on the knowledge and skills I had developed during my placement. More recently, as part of QBE’s rotational graduate scheme, I transitioned to the Capital Modelling team. This programme provides the opportunity to explore different areas of Actuarial work, enhancing my skills and deepening my understanding of the business, before deciding which team to specialise in long term.

What I enjoy most about my role is the variety it offers, from collaborating with teams like Finance, Risk, Reinsurance, and Underwriting to refining Actuarial processes that benefit both the business and its stakeholders. I find it particularly rewarding to analyse large and complex claims, understanding how they influence our reserves and capital requirements. The challenge of applying expert judgment to uncertain lines of business adds an interesting dimension to my work. On top of this, the freedom to explore diverse projects that match my interests keeps my role dynamic and engaging.

I’m particularly proud of streamlining the reserving process for our facility business, which covers a range of lines, including Property, Liability, Marine and Cyber. I created a dashboard comparing our internal data to industry benchmarks. This was done in an effort to determine how reliable our data is and what would be the best combination of internal and external data to provide more reliable reserve estimates. This initiative not only provided us with more confidence in the reserves but also helped us manage our risk profile more effectively while providing more clarity to stakeholders about our results.

A typical day for me involves analysing claims data to identify trends, collaborating with stakeholders to understand any changes in business strategy or mix that could impact our reserve and capital requirements, and helping to ensure that our data is as accurate as possible. I also focus on streamlining processes and generating outputs for other teams which can assist them with their work. The role requires frequent communication and collaboration with various departments, ensuring that all actuarial models and results are based on the most accurate and up-to-date information.

I would recommend taking the time to thoroughly research the insurance industry and recognising the complexity and depth it offers. Insurance is far more interesting and diverse than it might initially seem, and there are many areas to explore, even within the Actuarial field. The industry covers a wide range of areas, and each presents unique challenges and opportunities. Stay informed about key industry trends, such as climate change, social inflation, and technological advancements in AI. Understanding these issues will not only help you better navigate the field, but also provide valuable insights into how actuaries and other professionals are approaching emerging risks and innovations. This knowledge will be beneficial not only for your work but also for excelling in interviews and advancing your career in the industry.