Predictor of risk
Ezekiel is a well-known name in the world of insurance, developing pricing models for big players like Jubilee Insurance and thinking about how the public can get better value from medical premiums. He is also on a mission to increase training opportunities for actuarial scientists in East Africa.
This, he says, will redeﬁne how decisions for private and private sector programmes are 34 executed by using a well-researched and documented process. It also stopped capital flight, considering that an actuary pays Sh1.5 million per year to train abroad.“Most programmes fail to achieve the expected results due to lack of input of actuarial scientists who are trained to maximise returns on investments as well as help deter occurrence of unexpected losses,” he says.
Ezekiel, who trained as an actuarial scientist at the University of Nairobi, says his work also involves formulating insurance products which insurers sell.“No penny, ought to be spent without a proper understanding of the future. Even the government needs to engage our members before executing any project so as to understand impact and review where necessary,” says the MD who in his spare time plays basketball.
His new mission is to set up a regional actuarial institute.“East Africa has 40 actuarial fellows and this informs the current predicament we are in where donor agencies and governments use their actuarial scientists to formulate agreements in their favour,” he says.
“Even small and medium enterprises should not expand without professional advice from actuarial scientists. We are trained risk predictors.”Ezekiel has developed numerous risk-based products for the insurance and banking sectors.