Young Actuaries' Public Policy Essay Competition


We are pleased to announce Marcus Stavrakis as the winner of the 2023 Young Actuaries’ Public Policy Essay Competition. 

Marcus’ essay “How the Australian Reinsurance Pool Corporation (ARPC) and Insurers can protect our data” looks at the vulnerability of small to medium enterprises (SMEs) to cyber-attacks and the resulting losses to their business and broader economy.  Marcus’ thesis is that better access to cyber insurance for SMEs would highlight the benefits of cyber hygiene for these organisations, however the existing cyber reinsurance market is underdeveloped and there is insufficient cyber insurance available for these types of companies.

In uncovering the problem, Marcus said

“SMEs are increasingly reliant on digital infrastructure for their operations, including communications, cloud processing, physical security systems, data storage, and billing.  We know that around 50% of SMEs have poor cyber security practices and that nearly half of the cyber-attacks target SMEs, posing a significant threat to Australian businesses and consumers.”

Marcus is working closely with the cyber working group to expand on his ideas and we hope there will be a further Institute publication on cyber risk later in 2023.

Marcus Stavrakis

2021 Public Policy Essay Competition

The winner of the Institute’s 2021 Young Actuaries' Public Policy Essay Competition was Laura Dixie (Manager at Taylor Fry). Laura’s essay demonstrated a strong understanding how public policy can tackle problems affecting society and the many ways in which actuaries can be involved in such work.

The topic for the 2021 essay competition asked entrants to explain how the COVID-19 pandemic demonstrated the value of actuarial thinking. The judging panel looked for evidence of lessons learnt, future implications and responses from the actuarial profession focusing on public policy issues.

Laura Dixie

2018 Public Policy Essay Competition

In 2018, The Institute’s Public Policy Essay Competition attracted a host of young authors whose essays demonstrated that actuaries can apply their skills across a range of fascinating topics; from mental health to blockchain, road pricing, the gig economy, complexity in retirement, genetic testing and many more.

The winning essay Modern government service delivery by Hugh Miller was singled out for its clear communication, logical structure and innovative approach to a growing issue for governments – how to deliver important services within ever tightening budgets. In the below video, Hugh discusses the key points and conclusions in his essay.