THE Actuarial Society of Zimbabwe (ASZ) has called on its members to shift their focus from merely providing insights to driving tangible impact in various sectors, including finance, healthcare, and public policy.
An actuary is a finance expert who applies mathematics, statistics, and data analysis to evaluate and manage risk, particularly in sectors like insurance, pensions, and finance.
They analyse trends and use predictive models to estimate the probability and cost of future events—such as accidents, illnesses, or natural disasters—helping organizations and governments make sound, forward-looking decisions.
The need for actuaries has become more prevalent in Zimbabwe due to growing macroeconomic volatility that has caused firms to either close or enter corporate rescue.
Speaking at the ASZ 11th annual convention held under the theme ‘From Insight to Impact: Shaping a Better Tomorrow’, the society’s outgoing president Prosper Matiashe emphasised the need for actuaries to be more involved in implementing their insights.
“We tend not to follow up the insights till they get implemented and make the impact they were intended to. We need to be helping all the various stakeholders with more research information, emphasising the importance of thought leadership and public policy advocacy,” he said.
“We need volunteers to contribute to research and policy development, particularly in areas such as climate change and healthcare.”
Matiashe stressed the need for actuaries to think beyond traditional boundaries and explore new frontiers of influence.
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The convention began on Wednesday and ended on Friday in Nyanga.
“We are opening new frontiers of influence as actuaries, and we will get recruitment and employment from there, and we will get even superior earnings from those new frontiers that we are doing,” Matiashe said.
He promised that the society is committed to supporting its members in their professional development and advocacy efforts.
On the sidelines of the convention, ASZ president-elect Livingstone Magorimbo told this paper that the society was poised for future growth and development, with plans to nurture young talent, support local universities, and create awareness for the actuarial profession underway.
“We cannot grow as a profession if we are not supporting our young talent that is coming through the pipeline. And therefore, for me, it has two strands,” he said.
“The first one is developing a coaching and mentoring platform within the ASZ, where senior actuaries can give back to society by supporting and mentoring young talent. This will ensure that young actuaries understand the nuances of the profession, including the importance of integrity.
“The second strand relates to supporting local universities that offer actuarial degrees. The ASZ is currently engaging with the Institute and Faculty of Actuaries to reinstate exemption status for students graduating from local universities.”
The ASZ president-elect revealed that the society also aimed to support other universities that wish to offer actuarial science as an undergraduate degree by helping them develop the right curriculum.
Magorimbo emphasised the importance of creating awareness of the actuarial profession, mentioning that the society is dedicated to supporting its members and promoting the value of actuarial science in various industries and sectors.
