Meet Baveen, Senior Actuarial Analyst at QBE Insurance

My name is Baveen Hemachandran and I am a Senior Analyst within the Actuarial Reserving team at QBE. My first taste of working in General Insurance was at Neon UW in 2018 for 6 months within the Risk team, where I fell in love with the industry and the unique nature of the London Market.

I joined QBE in 2019 on a temporary contract as an Actuarial Assistant and eventually earned a permanent role here as an Analyst later that year in the summer. This was my first Actuarial role after graduating from City University of London in 2017, studying Actuarial Science.

In the Actuarial Reserving team, we work on projecting claims reserves on a best estimate basis which feed the financial result. This involves the use modelling techniques which use historical data to predict the future and working closely with underwriters to ensure we have the most up-to-date information available. In my current role, I am responsible for the reserving of Casualty lines of business for the QBE Reinsurance division and my previous responsibilities include working on the reserving for various Insurance products including: SME, Combined Packages and Motor.

Since working at QBE, I have been involved in some high profile work projects but also taken part in a number of non-work related social activities. In terms of work-related achievements, the one I am most proud of is getting through a tough period in 2021 when the team was temporarily under-resourced, and I was responsible for working on a central reporting process.

Whilst there were some difficulties meeting the usual deadlines, I was largely able to maintain high quality of work and I received recognition from senior leadership for my efforts which I believe helped build my profile across the wider Finance department.

From a non-work perspective, the achievements I am most proud of are from my time on the Together@QBE committee organising a UEFA Euro 2024 sweepstake and co-hosting a quiz night – both of which received good feedback and high praise from my colleagues across the wider Finance team.

A typical working day for me will usually depend on whether we’re in the middle of one of our half-yearly Reserving exercises or in between them. During the busy periods in April and October, the team’s focus will be on refining ultimate premium and claims projections to feed the financial results – for me this usually involves updating models, refining assumptions and preparing summary packs for presenting to our key stakeholders. Outside of the busy periods, my day would typically involve working on any deep-dive projects, model improvements or answering internal/external auditor requests.

Regardless of whether we are in a busy period or not, my smaller team meets most mornings to catch-up and discuss any key priorities. The collaborative relationships we have built with other departments sometimes means that there are ad-hoc requests which can take up our time but also means that no two weeks are usually the same.

I would recommend reading up on QBE’s DNA values which underpin the amazing culture throughout the organisation. I would also recommend researching the nuances in reporting as a result of operating in the Lloyds of London market as well as being an Australian (re)insurer, this can help with understanding certain reporting requirements which may be unique to QBE.

More specifically to roles within the Finance, Actuarial and Legal (FAL) department, I would suggest not being discouraged if the exact role you are after isn’t immediately available – in my experience at QBE, there is often scope for rotations and strong examples of mobility across the teams. This means that the company does a good job of retaining good talent within the organisation, whilst allowing people to perform and develop in a role that is well suited to them.