Richard Wickremasinghe

Pricing Lead

"It’s exciting to have access to the latest technology to improve the sophistication of our models and to simplify processes."

From living in the UK, Sri Lanka and Australia, I knew firsthand that Allianz had a strong global presence. This is something that was important in terms of future opportunities due to the size and reach of being part of a global company. However, since Allianz is the only insurer in Australia with an approved APRA Internal Capital Model, the added bonus about joining, was the opportunity to gain a holistic view of the interplay between assets, liabilities and capital management.

This definitely worked well into my career plan as over the past eight years I’ve been able to tick-off Insurance Valuations, Capital Management and I’m now currently working in Pricing. Call it the triple threat of being an actuary! This has been made possible due to managers who have invested in my development and progression, and have continuously given me the opportunity to gain experience in different areas.

The combination of working with a diverse range of people and having a wide variety of products to price including property, motor and liability, keeps things interesting day in day out. It’s also exciting to have access to the latest technology and tools to improve the sophistication of our models and to simplify processes. New technology brings new opportunities and being able to replace traditional statistical models by adopting machine learning has had a huge impact on how we work.

Each wave of transformation we undergo enables more continuous improvement and strengthens our technical excellence. We are constantly pushing ourselves to hit the process benchmarks set by our global team, and it’s great being able to take advantage of the expertise of other companies in the Allianz network. There’s a terrific open exchange of ideas and training.

I’m also enjoying being a mentor to a junior analyst in Finance. It’s where I first started so I find it really rewarding passing on my key learnings and knowledge; sharing my experiences and guiding them through, as I first was by my own mentor. It was through our mentoring program that I was able to find out more about other divisions, gain insights and build my network, which ultimately led to my role in the Technical division.

The mentoring program is a great example of how Allianz actively supports us to network, grow and develop. Supporting each other really underpins how we work and how we connect. We’re a young, tight-knit group that enjoys spending time together, likes to be highly social and enjoys some friendly Kaggle competition to keep everyone on their toes! And at the end of the day, we work really well together and support each other to get the job done!