Definite Mupazviriwo
St Georges,Bermuda
Summary
- Seasoned Actuarial Professional with solid grasp of insurance industry processes, practices and reporting requirements. Highly analytical and detail-oriented with systematic nature.
- Qualified Actuary (Associate - Institute and Faculty of Actuaries, London, UK).
- Life Insurance specialist with nearly 10 years' experience in actuarial valuations, product development & pricing, experience analysis (Lapse, Mortality, Expense), underwriting, operations management, and strategy.
- Professional working knowledge of Prophet [Life Insurance Actuarial Software], and Microsoft Office (Word, Excel, and PowerPoint).
Overview
12
12
years of professional experience
Work History
Principal -Actuary
Bermuda Monetary Authority
07.2024 - Current
Senior Analyst
Bermuda Monetary Authority
08.2022 - 06.2024
- Undertaking on-site reviews and analysis of selected business and their respective capital models by utilizing various risk assessment methodologies to evaluate compliance with existing laws, regulations, policies, plans and procedures and/or identify risk issues and formulate reports on findings for submission and discussion with management
- Developing agendas, schedules and conducting prudential meetings with financial entities to discuss findings of review, minute discussions/decisions and developing corrective action plans as appropriate
- Reviewing applications in accordance with existing legislation
- Monitoring the market with specific focus on developments in the insurance industry, regulatory bodies/regimes, accounting standards as well as market information on insurance companies via monitoring of key indicators, newspapers, periodicals, media and relevant websites
Head of Individual Life Business
Econet Life Pvt Ltd
06.2019 - 07.2022
- Company Overview: https://www.econet.co.zw
- Joined as underwriting manager and was promoted to Head of Individual Life
- Achieved growth in revenue of 62%
- Developed new product which grew to over 70,000 new customers in 12 months
- Improved claims Turn Around Time (TAT) from 75% of the target service level to 90% and general query resolution achieving target SLA for over 95% of the cases from 80% in the first 12 months as Head of IL
- Optimised reinsurance coverage resulting in savings of 1.67% of annual premium
- Successfully championed company restructuring exercise to align with revised strategy
- Providing leadership on product development and operations management to Econet businesses in Lesotho, Burundi and Ghana (launched May 2021)
- Https://www.econet.co.zw
Manager - Actuarial Services
CBZ Life Ltd
01.2018 - 05.2019
- Pioneered the establishment of an in-house actuarial department
- Managed all aspects of actuarial work in liaison with Statutory and Consulting Actuaries, which included: Developing and maintaining actuarial models and systems
- Product Development and Pricing (Life Insurance) and new business quotations (Annuities, Group Life Assurance & Credit Life)
- Experience investigations | Expense, Lapse, Mortality and Claims
- Data Checks for the Actuarial Valuation
- Providing technical advisory in underwriting, reinsurance and systems development
- Assisting in formulating and implementing risk management policies and the Risk Appetite Framework
- Preparation of risk metrics for the risk log and risk report for the Board of Directors
- Assisting in budget preparations and projections
- Financial Reviews for Defined Contribution Pension Funds
- Product Profitability monitoring
- Training staff and financial advisors on products
Actuarial Consultant - Life Assurance
African Actuarial Consultants
06.2016 - 12.2017
- Lead Actuarial Consultant in the Life Insurance Team managing a team of four Junior Consultants
- Responsible for the overall process of the Actuarial Valuations for Life Insurance Companies from Data Checks, Model Points creation, Prophet Runs, Results Analysis, Report Drafting, Analysis of Surplus and Capital Adequacy Requirements using SAP 104 (IFRS 4)
- Pricing and Profit Testing Life Insurance products in Prophet including use of DCS to create Model Points
- Experience investigations including Expense Analysis, Lapse Analysis, Mortality and Claims Analysis
- Product profitability analysis
- Embedded values for a Life Insurance company
- Role included extensive use of Prophet Life Actuarial Software
- Performed work for clients in Zimbabwe, Zambia and Nigeria
Actuarial Analyst
Zimnat Life Assurance
04.2015 - 06.2016
- Providing actuarial support to the business
- Reporting to the actuarial manager in financial reviews for pension funds, experience investigations, data checks and running models for actuarial valuations and capital modelling, unit pricing, Annuity and Group Life Assurance quotations, surrender and maturity values calculations
- Research on new products and other adhoc analyses to provide management information for decision making
Actuarial Trainee
African Actuarial Consultants
08.2012 - 08.2013
- Supporting (Data checks, Model points and Report drafting) the Life Actuarial Consultant in Experience Investigations, Pricing, Reserving and Capital modelling work
- Research including a weekly market insights report
Education
Master of Business Administration - MBA - Merit
University of Zimbabwe
01.2023
Bachelor of Commerce Hons Degree - Actuarial Science, 2.1
National University of Science and Technology
01.2014
GCE Advanced Level - Maths(A), Accounting(A), Chemistry(B), Physics(B), F.Maths (C)
01.2009
GCE Ordinary Level - 10 (9A's, 1 B) 'O' Level passes including Maths & English
01.2007
Skills
- Reporting skills
- Enterprise risk management
- Reinsurance Strategies
- Risk Management
Volunteer Experience
- Secretary General, Actuarial Society of Zimbabwe, 01/2021 - 12/2022
- Part Time Lecturer, University of Zimbabwe, 01/2021 - 12/2022
Timeline
Principal -Actuary
Bermuda Monetary Authority
07.2024 - Current
Senior Analyst
Bermuda Monetary Authority
08.2022 - 06.2024
Head of Individual Life Business
Econet Life Pvt Ltd
06.2019 - 07.2022
Manager - Actuarial Services
CBZ Life Ltd
01.2018 - 05.2019
Actuarial Consultant - Life Assurance
African Actuarial Consultants
06.2016 - 12.2017
Actuarial Analyst
Zimnat Life Assurance
04.2015 - 06.2016
Actuarial Trainee
African Actuarial Consultants
08.2012 - 08.2013
Bachelor of Commerce Hons Degree - Actuarial Science, 2.1
National University of Science and Technology
GCE Advanced Level - Maths(A), Accounting(A), Chemistry(B), Physics(B), F.Maths (C)
GCE Ordinary Level - 10 (9A's, 1 B) 'O' Level passes including Maths & English
Master of Business Administration - MBA - Merit
University of Zimbabwe
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