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Beatrice Male, BA, FIA

Consultant
London, UK

Tel: +44 20 78471571

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Professional Designations

  • Beatrice is a FIA and is CERA qualified. She qualified as a Fellow in 2014.

Education

  • BA, Philosophy, Politics and Economics (PPE), Mansfield College, Oxford University

Current Responsibility

Beatrice is a qualified consulting actuary in Milliman’s UK Life and Financial Services practice. She joined Milliman in 2015.

Experience

Prior to joining Milliman, Beatrice worked for five years in the Life Insurance division of Willis Towers Watson. In this role, Beatrice specialised in financial modelling and running model output testing teams. She is proficient in a number of financial modelling software packages, including MoSes, Radar and Emblem.

Beatrice has designed and developed Bayesian network models to assess clients’ risk exposures. Most of these models have formed part of the clients’ ORSA frameworks.

Beatrice recently assisted in a detailed review of a large insurer’s bulk annuity pricing process as part of a Section 166 exercise. This covered all assumptions and the wider governance processes in place.

Beatrice has co-written two reports which describe the results of modelling undertaken to illustrate the challenges facing current and future generations of retirees.

During a secondment to an enhanced annuity provider, Beatrice supported their process re-engineering exercise within MoSes. She also contributed to the reporting process of embedded value and statutory calculations and reconciliation to the old systems.

This work is further to Beatrice managing the project team for several actuarial function holder assignments. This has involved running their year-end valuations.

Beatrice has led a team working on the sell-side of an M&A which involved financial modelling in MoSes, cash flow reconciliation and scenario testing.

She has also worked on the pricing and cash flow projection modelling for two separate longevity reinsurance deals (both within MoSes). She led the development of a bulk pensions annuity model to produce fixed and floating leg payments for these transactions.

Beatrice has been seconded to a UK composite insurer to assist with their life and non-life insurance Solvency II reporting. As part of this, she updated the assumptions they were using to comply with Solvency II’s requirements and challenge their models where the functionality did not meet Solvency II guidelines.

Other work in the annuity and modelling space includes using GLM analysis to create a demand model for an annuity provider with the objective of improving profitability. Having a model of customers’ propensities to purchase enabled the insurer to price individual annuities more profitably.

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