Data analytics pioneer Adam Driussi named 2013 Actuary of the Year

Actuaries Institute welcomes 60 new Fellows in 2013 across a raft of different sectors

The Actuaries Institute (the Institute) has named Mr Adam Driussi, Co-founder and Director of the Quantium Group as the 2013 Actuary of the Year. Announced last week at the Institute’s annual Volunteers Cocktail Party in Sydney, the Actuary of the Year award is bestowed on an actuary who has brought credit to the profession, and made a key contribution to business, the community, government or the profession during the year.

The use of big data and data analytics has become increasingly important to business over the last decade. Forward-thinking entrepreneur, Mr Driussi, has been at the forefront of this growing trend. Together with his business partners, Mr Driussi has successfully transformed Quantium Group over 10 years from a small consultancy to Australia’s leading data-driven strategy business and is now one of the largest employers of actuaries in the country.

Institute President John Newman described Mr Driussi as an outstanding actuary who has dedicated himself to advancing the actuarial profession in a different field.

“Adam is now one of Australia’s leading players in data analytics, a field which is fast becoming a highly attractive new practice area for actuaries. Outside of his own career success, Adam goes above and beyond for his profession. He is always generous with his time to speak at conferences for the Institute and other actuarial events and is a strong ambassador for actuaries in the wider business community,” he said.

Mr Driussi was among a group of shortlisted candidates who have all demonstrated significant contributions to the profession and was chosen as the Actuary of the Year by a panel of senior actuaries.

Previous recipients of this prestigious award include Estelle Pearson in 2012 for her major contribution to the actuarial profession and the insurance industry for more than 20 years Fred Rowley in 2010 for his work developing the first globally recognised Enterprise Risk Management qualification (CERA) and Munich Re’s Kaise Stephan in 2009 who was the first actuary to swim the English Channel and raised over £80,000 (A$122,787) for a children’s hospital.

Commenting on the accolade, Mr Driussi remains passionate about demonstrating the value actuaries can add to the broader business community across a range of different sectors.

“As businesses increasingly recognise that data and analytics are key enablers of business performance, there is an opportunity for the actuarial profession to take a leadership role in helping businesses realise this value.  Actuaries can bring a huge amount of value to businesses by harnessing the potential of this data across a very broad range of industries,” Mr Driussi said.

New Fellows welcomed across range of industries

Mr Newman also congratulated the 60 actuaries recently welcomed as new Fellows of the Actuaries Institute – the highest level attainable in the professional body.

“This professional qualification is highly regarded both in Australia and overseas, recognising the rigorous education and study undertaken and the special analytical and strategic skills the profession has to offer,” said Mr Newman.

The Institute’s new Fellows work in a range of sectors, primarily in banking, investment and fund management, risk management, life insurance, health insurance, general insurance, superannuation and wealth management. The actuarial profession also has good female representation at senior levels, with 37% of new Institute Fellows this year being women.

“There are growing opportunities for qualified actuaries to make a significant contribution in the modern commercial world and there is a strong demand for the actuarial skill across a range of industries. The fastest growing areas for new employment are in banking, risk management, general insurance and of course, data analytics,” said Mr Newman.