Mr Musulin is an actuary with more than 40 years’ experience specialising in natural perils, catastrophe risk modelling, public policy development and sustainability, and has assisted industry and government with improving their resilience and understanding of climate change. He is the lead spokesperson for the Australian Actuaries Climate Index^[1] and was the lead author of the Actuaries Institute research paper ‘Property Insurance Affordability: Challenges and Potential Solutions’^[2].

He was the inaugural convener of the Institute’s Climate Change Working Group and has authored several Institute publications, including ‘Home insurance affordability and socio-economic equity in a changing climate’ (2022)^[3], ‘Home insurance affordability update’ (2023)[^[4], ‘Climate Risk Disclosure – financial institutions feel the heat’ (2017)^[5] and ‘Can actuaries really afford to ignore climate change?’ (2014)^[6]. Mr Paddam was also a contributing author to the IPCC AR6 Working Group II Report, has advised the Insurance Council of Australia on evaluating adaptation and resilience measures (2022)^[7] and presented a TEDx talk on climate change and banks and insurers (2022)^[8].

Actuaries Institute President Naomi Edwards said the Institute has long recognised climate change as an important public policy issue, and both Mr Musulin and Mr Paddam have been at the forefront of helping solve the challenge.

“Both Rade and Sharanjit’s contributions have spanned policy development, resilient community building, and disaster recovery funding and have benefited developed and developing nations. They have exemplified how actuaries can use data for good to lead, innovate, and influence change on a global scale and shown the professional commitment actuaries bring to helping solve complex issues.”

The Actuary of the Year award has previously been given to an individual actuary, but the nominations committee agreed that both individuals have been highly influential in the climate change and sustainability space.

Both Principals at Finity Consulting, Mr Musulin and Mr Paddam have volunteered with the Institute for many years and contributed to numerous submissions to government, regulatory bodies, and independent inquiries on climate-related matters. Mr Paddam and Mr Musulin have both received the Institute’s Distinguished Service Award in 2020 and 2022, respectively.

Mr Musulin said: “No individual profession is going to solve the climate challenge alone, but what actuaries add is an understanding of uncertainty and risk. We are trained in thinking about complex systems, and our unique skillset means we have a responsibility to help people understand how these challenges are going to impact their lives.”

Mr Paddam said: “Climate change is a here and now problem, but it is going to manifest over time and affect people in different ways. As actuaries, we look at different groups of people and how they weather those stresses. Our job is to provide long-term thinking to make practical decisions that will build a more sustainable and resilient future for all.”

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Notes
[1] https://www.actuaries.asn.au/public-policy-and-media/our-thought-leadership/climate-and-sustainability-thought-leadership
[2] https://actuaries.asn.au/Library/Opinion/2020/GIRESEARCHPAPER.pdf
[3] https://www.actuaries.asn.au/public-policy-and-media/thought-leadership/green-papers/home-insurance-affordability-and-socioeconomic-equity-in-a-changing-climate
[4] https://www.actuaries.asn.au/public-policy-and-media/thought-leadership/green-papers/home-insurance-affordability-update-and-funding-costs-for-floods/
[5] https://www.actuaries.asn.au/public-policy-and-media/thought-leadership/the-dialogue/climate-risk-disclosure-financial-institutions-feel-the-heat
[6] https://www.actuaries.asn.au/Library/Events/GIS/2014/GIS2014EganEtAlClimateChangePres.pdf
[7] https://insurancecouncil.com.au/wp-content/uploads/2022/02/R_ICA_Resilience_Final_220218.pdf
[8] https://www.youtube.com/watch?v=qXHGifdYlQA

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The winners have demonstrated exceptional dedication to the Australian insurance industry and all share a common pursuit for excellence — view the 2022 winners on the ANZIIF website.

The industry’s ‘night of nights’ saw over 750 professionals from the insurance and financial services sector in attendance y’s ‘night of nights’ at The Star in Sydney.

Attendees were entertained by Master of Ceremonies Craig Reucassel, Australian writer and comedian best known for his work with The Chaser and for going through your bins on The War on Waste.

Among the awards for individual excellence, Bianca Parussolo (ProRisk) was announced Young Insurance Professional of the Year, Sharanjit Paddam (Finity Consulting) was announced Insurance Leader of the Year, and Jacki Johnson was presented with the ANZIIF Lifetime Achievement Award.

“We were so delighted to see a full house of over 750 insurance professionals here to celebrate the year that was – in person!’ said Prue Willsford, ANZIIF Chief Executive Officer. Every finalist embodied the true meaning of professionalism and has contributed to building trust and confidence in our community. For that, you all deserve to be celebrated.”

“Thank you to our fabulous, diverse judging panel for dedicating their time to fairly review all submissions. This year, our judging panel consisted of a wide range of industry representatives, and I know how much time they have invested to ensure a fair and serious consideration of the submissions.”

Congratulations to the 2022 Winners:

Small Broking Company of the Year: Clear Insurance

Medium Broking Company of the Year: Scott Winton Insurance Brokers

Large Broking Company of the Year: Marsh

Authorised Representative Network of the Year: Insurance Advisernet

Underwriting Agency of the Year: CHU Underwriting Agencies

Small-Medium General Insurance Company of the Year: Royal Automobile Club of Tasmania (RACT)

Large General Insurance Company of the Year: Suncorp Group

General Insurance Claims Team of the Year: CGU Strategic Broker Claims Teams

Life Insurance Company of the Year: AIA Australia

Insurtech Start-up of the Year: Mitti Insurance

Professional Services Firm of the Year: MinterEllison

Service Provider to the Insurance Industry: IVAA

Excellence in Workplace Diversity and Inclusion: Hollard Insurance Company

Excellence in Environmental, Social and Governance Change: QBE

Young Insurance Professional of the Year: Bianca Parussolo, Professional Risk Underwriting  (ProRisk)

Insurance Leader of the Year: Sharanjit Paddam

ANZIIF Lifetime Achievement Award: Jacki Johnson

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