As UK P&C Head of Analytics Property as well as Managing Director with Guy Carpenter, Amrita Pattni鈥檚 day to day role is anything but predictable.
鈥淚t varies a lot,鈥� she says. 鈥淢y core role is to support brokers and clients with reinsurance pricing and optimization. I help make sure they have the best possible reinsurance structures in place, that they meet their KPIs, and that they鈥檙e priced transparently.
鈥淏ut there鈥檚 much, much more. I also get involved in capital calculations, making sure the reinsurance provides efficient capital relief under the Solvency II standard formula and internal model. I鈥檓 even involved in the broking and placement side, speaking to reinsurers to get reinsurance placed. In fact, I鈥檓 a full-blown broker on some accounts.
鈥淪ometimes I鈥檓 out presenting the stochastic modelling platform we license externally to potential clients, and arranging the licences where necessary. So my days vary a lot, but they鈥檙e always focused on delivering what clients need.鈥�
“That feeling of completion, of meeting client needs, and of them valuing what you do – that’s the key thing for me.” – Amrita Pattni, Chartered Actuary
Unsurprisingly, Amrita feels a key challenge of her role is being able to handle her multiple commitments. Another is being able to look beyond established solutions when the need arises.
鈥淵ou have to be able think outside the box,鈥� she says. 鈥淟et鈥檚 say a client is struggling with something related to a structure they already have in place. We can鈥檛 simply renew it, we have to look at alternative structures that can help them.
鈥淵ou also have to be able to communicate that thinking. On a day-to-day basis you鈥檙e speaking with clients, you鈥檙e speaking with brokers, you鈥檙e speaking with other actuaries. So you need to make sure you pitch everything at the right level.
鈥淥n top of that you need to think about deadlines, about managing expectations and making sure you鈥檙e not compromising the quality or integrity of the work. Fortunately, I鈥檓 working in a culture in which everyone wants to make sure the work is not rushed and is correct. So it鈥檚 always challenging, but it鈥檚 very rewarding too.
鈥淲hen you deliver a piece of client work and they鈥檙e happy with it, when you鈥檝e added something of value, of service to someone else, you鈥檝e delivered a good piece of work. So that feeling of completion, of meeting client needs, and of them valuing what you do 鈥� that鈥檚 the key thing for me.鈥�
A successful project that鈥檚 very close to Amrita鈥檚 heart relates to a client for whom she eventually became the account exec.
鈥淭his is a client with a non-standard, structured reinsurance solution,鈥� she says. 鈥淚 needed very sophisticated actuarial skills to guide the building of a complex stochastic model and pricing for them. On top of that, it鈥檚 a motor account, and I usually work in property. So I had to use my actuarial skills to deliver on a different type of account.
鈥淚t was an exceptionally bespoke piece of work. So when the person who was the account exec at the time moved on to a new role, I was one of the very few people in the business who not only really knew the client, but also understood all the nuances of the actuarial side.
鈥淭hat meant I was best placed to be their new account exec 鈥� and having an actuary as the overall account exec is a big statement to make. My actuarial skills put me in that position.
鈥淲orking alongside a very talented team of actuaries, brokers and support, we are three years in and have continued to successfully service and add value to the client. That鈥檚 something I鈥檓 very proud of!鈥�
Amrita believes chartered actuary designation is a way to keep the actuarial profession up to date as well as protecting its status.
鈥淚 can absolutely see the benefits,鈥� she says. 鈥淐alling yourself a chartered actuary gives you that air of authenticism, of credibility. It鈥檚 a great way to protect our profession and our qualifications.
鈥淚t鈥檚 also good to update and rebrand now and then, just to tell more people about who we are and what we do, as well as why that matters. I think there鈥檚 a great deal of value in it.鈥�
We鈥檒l be sharing member stories from around the world on a regular basis, so keep an eye out for updates. If you鈥檝e chosen to adopt Chartered Actuary status, or if you鈥檝e employed an actuary who is helping to transform your organisation, we鈥檇 love to hear from you.
