Melville Actuaries Summit Prize
The Melville Actuaries Summit Prize, funded by the late Mr Tig Melville, is presented to the author of a paper or presenter of a session and is considered by the judging panel to have:
- achieved an advance in the profession’s understanding or knowledge of a specific subject or sphere of knowledge; or
- collected or presented existing material intended to raise the awareness of the profession regarding an important contemporary issue.
The monetary value of the prize is $5,000.
Congratulations to Francis Burgess and Matt Noyce, winners of the Melville Actuaries Summit Prize for their concurrent session Where is Life Insurance Pricing Headed? Balancing Complexity and Granularity with Common Sense.
According to Francis and Matt, "This is an exciting time of change for pricing, modelling and data analytics within Life Insurance. The quality and volume of analytical techniques and data available today means we can provide much greater insights than was historically possible. But just how far can, and should, we go?”
Francis Burgess is Head of Pricing for Zurich’s Group Insurance business. He is an experienced actuary with a passion for pricing and data analytics having held senior roles in both direct insurers and reinsurers.
Francis has firsthand experience in introducing data analytical techniques into traditional processes and understands the challenges of explaining ‘black boxes’ to senior pricing stakeholders as well as the potential and power of the emerging techniques.
Matt Noyce is the founder of MNC and has 25 years’ experience in life insurance and reinsurance, across the Australia & New Zealand, Asia and UK markets.
Matt’s previous leadership roles include Chief Pricing Actuary for Swiss Re and a member of the Australian Leadership Team and Asia Products Leadership Team. Prior to that he was the Chief Pricing Officer for CommInsure and responsible for the pricing of its Life and General Insurance portfolio.
His technical expertise covers pricing, product design, experience studies, reserving, regulatory capital, risk management, reinsurance and M&A’s.