The Actuaries Institute will become more involved in public policy, by issuing high-profile white papers on topics such as data analytics, insurance, banking and housing wealth, according to its new president.

Lindsay Smartt wants to build on last year’s public policy work, which included the paper on retirement income titled For Richer, For Poorer.

Mr Smartt has more than 30 years’ experience in the financial services industry and has been CRO of Munich Re since 2011. He is currently chair of the institute’s Audit & Risk Council Committee.

He says actuaries need to extend their influence on key decision-makers who are tackling complex issues such as the ageing population, budget reform and climate change.

“The institute will also build on the substantial work of my predecessor, Estelle Pearson, and focus on sustainability, the relevance of the profession and the role the institute plays in the international arena.”

Mr Smartt says the institute should respond to the changing business environment with a greater emphasis on disruptive inputs and development of new practice areas for actuaries.

“Many actuaries now nominate data analytics as their primary area of practice.

“The institute is responding to this change by driving the strategic development of the role of actuaries in this exciting new area and working with our international colleagues to increase our influence in this sector.”

The institute wants to build on its solid international reputation and global affiliate relationships, and extend its reach in Asia, home to 15% of its members.

The institute leadership team comprises Mr Smartt; Senior VP Jenny Lyon, a director of specialist actuarial recruitment firm SKL; VP John Evans, an Associate Professor at the Sydney Business School; and CEO David Bell.