Episode 105: Actuaries in Entrepreneurship - Part 2
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Episode 105: Actuaries in Entrepreneurship - Part 2
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Narrated by:
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By:
About this listen
The theme for the episode is 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗶𝗻 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀𝗵𝗶𝗽 - 𝗣𝗮𝗿𝘁 𝟮.
Barry and I covered the following topics:
✅ Barry’s motivation for becoming an entrepreneur
✅ The vision behind Discovery Limited
✅ Starting a business during the fall of Apartheid
✅ The shared-value insurance model
✅ Shaping South Africa’s insurance and financial services landscape
✅ Barry’s biggest entrepreneurial challenges
✅ What it takes to be a successful entrepreneur
✅ Transitioning from entrepreneur to intrapreneur
✅ Areas where actuaries can add value beyond insurance
✅ Tips for the next generation of entrepreneurs
Time Markers
3:50: Risk-seeking culture in South African actuarial community.
5:42: First actuarial role as product development actuary.
13:00: Motivation for becoming an entrepreneur and co-founding Discovery Limited.
18:20: Addressing unaddressed gaps in the South African insurance market (demand-focused approach).
21:14: Value creation during political turmoil (post-Apartheid era).
24:59: Discovery Limited’s shared-value insurance model (medical savings accounts, incentivized wellness programs and risk savings).
33:14: Developing a system to track diet and exercise before the era of big data.
37:39: Adapting behavioral mindset in managing health, motor, banking, and retirement risks.
47:20: How Barry contributed to Discovery’s success as an executive.
51:44: Notable challenges for Discovery Limited (entering the US market).
55:05: Getting companies to scale, risk-taking, ideation, sales, pricing, marketing, and implementing marketplace feedback.
1:01:02: Non-traditional opportunities for actuaries (managing supply and demand of electricity).
1:04:30: Tips for aspiring entrepreneurs.
If you are seeking to explore entrepreneurship, you want to watch this.
My Website: maverickactuary.com
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.