Actuary Augmented Limited

Actuarial consulting services - independent, seasoned, passionate

SPOTLIGHT ...recently launched "Challenge the Experts" equips General Insurance Company Directors to better challenge actuaries and other technical experts. Find out more here...

Services

Challenge the Experts new

"Challenge the Experts" is a new service targeted at General Insurance Company Directors. It is designed to build confidence to challenge the actuaries and other technical experts on which insurance companies rely. It is especially useful for Company Directors who are transitioning into the General Insurance industry for the first time. The training is built around 7 core elements.Find out more here...

Talent Accelerator

"Talent Accelerator" continues to be a popular and highly valued service. It combines Interim Executive services with training and mentoring. We help your loyal and valued employee to progress to a senior role that is currently just out of reach. They feel valued and you avoid rolling the dice with an expensive and time consuming senior hire - assuming you can find one!Find out more here...

Actuarial Services

We augment your internal capabilities to help deliver projects, or to backfill and release your best people to deliver challenging projects. We cover maternity/paternity leave, or sabbaticals which can sometimes be just what is needed to retain top talent.Tom has been delivering traditional actuarial and risk management services on a consulting basis for decades. He enjoys the detail and insists on also taking hands-on roles to keep sharp.Please get in touch for more information...

About

Actuary Augmented Limited

Since it was established in 2021, Actuary Augmented Limited has provided actuarial expertise to a range of domestic and international insurance companies. Engagements have included Head of Actuarial Function, Head of Reserving, Chief Risk Officer and advice on specific technical matters, as well as a large number of training and mentoring sessions. Actuary Augmented Limited is proud to be truly independent, Irish and low cost, being free from costly overheads and cross-charges.Client references can be suggested based on your area of interest and network.

Tom Donlon

Tom has almost 30 years of world-class experience running general insurance companies and consultancies in Ireland and abroad. He is a qualified actuary (FSAI, CERA) and has served on several committees of the Society of Actuaries in Ireland, including Council. Tom has been approved for multiple PCF roles including Executive Director (x2), HoAF (x5) and CRO (x3). He has also had oversight responsibilities for reinsurance, pricing, compliance and internal audit, and is well used to challenging the claims and underwriting functions. Tom has estimated the reserves for most of the Irish market as HoAF, Reserving Manager or Reviewing Actuary. In recent years Tom has enjoyed providing insurance training and mentoring to CEOs, INEDs, HoAFs and other senior insurance executives.

Carbon Neutral

Actuary Augmented Limited is serious about climate change and the role of insurance in combatting climate change. We are 100% carbon neutral thanks to remote working, clean mobility and sustainable energy. Residual CO2 is offset by planting trees in Mayo with "Catch my Carbon".

Actuary Augmented Limited
Registered in Ireland No. 700969 at 24 Sandymount Road, Sandymount, Dublin 4
Directors : Tom Donlon

Contact

Get in touch

Please get in touch to discuss our services using any of the channels below - just hit a button! I place a high value on networks and would also be very happy just to chat. I like nothing more than to meet new people, catch up with old friends and chat about insurance.

Check us out on social media

Tom frequently comments publicly on topical matters and presents regularly at industry fora. See recent examples below.

Challenge the Experts new

Modern Company Directors operate in a complex regulatory environment and have broad responsibilities to provide constructive and independent challenge. This includes challenging experts, their complex models and their expert opinions. As a Director and an Expert, I have experienced first-hand both strong and weak practices when it comes to effective challenge. I have observed otherwise accomplished Directors struggling to provide challenge on technical matters. The Central Bank quite rightly expects to see all Directors providing meaningful challenge on even the most technical of matters.This struggle can be most acute for Company Directors who are transitioning into the notoriously idiosyncratic General Insurance industry for the first time. Unaided, it can take years to develop the competence and confidence to effectively challenge the technical experts."Challenge the Experts" was developed in response to frequent requests to assist even the most seasoned Company Directors. It provides the tools that I would use to challenge actuaries, CROs and other technical experts. The training I have provided has evolved over the years and, whilst unique to each individual, the following 7 elements seem to have always been especially valued:

  • Basic training - intuitive understanding of technical methods

  • Understanding model limitations

  • Topical matters through a technical lens

  • 3 ways to own a technical discussion

  • The language of estimation, uncertainty and judgement

  • The key to effective questions, and how to ask follow-up questions

  • Trends and hot topics - staying up to date with industry and regulatory developments

The training is especially helpful when providing challenge on some of the most critical activities including:

  • Actuarial reserve estimation - a key determinant of profitability

  • Capital calculations - the key determinant of solvency

  • ORSA scenario design - the key risk management activity, in my opinion.

Each session is a structured discussion with supporting materials provided in advance. One to one sessions are best and can be delivered face to face (recommended) or remotely. 3 to 5 structured sessions of 1.5 hours each typically work well.Companies are always keen to support their Directors with suitable training and support. Training can be delivered as part of a Director induction program (recommended) or as a stand-alone company training option.Please get in touch to discuss further...

Talent Accelerator

Even the largest insurance companies can have thin succession plans when it comes to specialist roles. Indeed, eliminating succession risk entirely can be elusive, and is arguably sub-optimal. Gaps inevitably arise."Talent Accelerator" has proven to be of great value to companies as it combines Interim Executive services with training and mentoring.We fulfil senior technical roles on an interim basis to cover the immediate gap.At the same time, we help develop your loyal, valued and talented employee who is just not quite able or ready to take on that senior role. We design a program of training, coaching and mentoring to address development needs. Scope depends on the individual, but it tends to be weighted towards judgement, communication, networking, presence and other soft skills. These employees typically become energised and transition into senior roles fast.This approach has proven to be a win for all parties. The employee feels valued, motivated and grateful for a clear and exciting career path. The company avoids an expensive, time consuming and risky senior hiring process in a thin and expensive recruitment market. Employee retention is also typically enhanced.Please get in touch to discuss further...