What is it like working in the RSA Telematics team?
The thing I like most about working at RSA is the freedom to be creative; I am encouraged to apply my actuarial knowledge to new situations and to innovate to create value. This led me to joining the Telematics team – writing a new kind of motor insurance product using black-box technology to enable customers to prove they are a safe driver, and to get rewarded for it with cash rewards and renewal discounts.
Telematics is a new and rapidly growing insurance market brimming with opportunities for actuaries to innovate. As well as revolutionising the way we price renewals using driver scoring to enhance risk models the complex nature of the black-box technology has meant actuaries are well placed to consult to a wide range of other functions around the business. I have especially enjoyed getting involved in these less typical areas of the company. For example, using actuarial understanding of risk to improve Telematics risk management processes in our Sales and Services team, and using general actuarial adeptness for understanding complex algorithms to help Claims to use the black-box to predict when our customers have had an accident to better take care of them at the scene. It’s also been interesting using the Telematics data to better defend customers against fraudulent third-party claims or false third-party statements about the details of how the accident occurred.
Do you have any advice for somebody wanting to work at RSA?
Network around the business and make the most of the wide range of opportunities available. As a large insurer RSA has a massive variety of work available in traditional reserving, pricing and capital roles, but also increasingly actuarial skillsets are desired in all aspects of insurance business management.
RSA provides a fantastic network of support and development through its Actuarial Development Scheme as well as nurturing softer business and leadership skills with a solid development programme and plethora of courses. Take every opportunity to learn and grow and you will find a career full of exciting turns and steady advancement open up to you.