Actuaries Institute reveals new president

Actuaries Institute reveals new president | Insurance Business Australia

Insurance News

Actuaries Institute reveals new president

Seasoned executive provided insights on navigating data-driven era

Insurance News

By
Roxanne Libatique

The Actuaries Institute in Australia has named David Whittle its 2024 president.

Whittle is a seasoned actuary with over three decades of experience. He has held executive roles in the insurance industry, banking, and corporate consulting, including most recently chief risk officer (CRO) for CBA’s wealth and private businesses.

Actuaries’ role in navigating complexities

In his presidential address, Whittle stressed the profession’s commitment to understanding and managing risks. He believes that actuaries can contribute significantly to realising the Australian ideal of a “fair go” in the emerging world of AI and automation.

“AI has immense power and, with it, immense possibilities and risks,” he said. “Actuaries have always been the independent arbiter, the vital element in systems like insurance, super, and investment striving for equal treatment of all people. In the world of automation, it will be up to us to extend that role.”

Addressing the impact of technological power and its nearly invisible deployment, Whittle underscored the increasing importance of actuaries in this landscape.

“Given the technological power at play – and how that power is deployed almost invisibly – it may be more important now than ever,” he said.

Call for innovation

While acknowledging the profession’s expanding influence and diversified skills, Whittle urged fellow actuaries to present innovative ideas for change.

“I am excited to be president at a time when actuaries are spreading our influence and broadening our skills. We’re creating value across different areas of work and different industries. This year, I would like to encourage our profession to continue to be bold – put forward ideas of change and find ways to be heard in the halls of government and the boardrooms of industry – to continue to make a real impact in issues that matter to Australians. Issues such as climate change, artificial intelligence, and intergenerational equity,” he said.

Actuaries Institute CEO Elayne Grace commended Whittle’s extensive experience and enthusiasm for embracing change.

“David’s extensive background in financial services and insurance across reserving, pricing, underwriting, general management, and risk management at senior levels gives him incredible insight into the ways actuaries are making a difference. David is enthusiastic about the role of actuaries as agents of change and has a passion for broadening the spheres in which actuaries are enabling growth,” she said.