‘As a risk expert at Nationale-Nederlanden, I can be deployed in a range of areas and I am involved in various projects. It means that my working day is very varied. A good example of this is setting a premium. In the first instance, this work is carried out by the actuary. The actuarial work is used to prepare a pricing document. I check to see whether the document is complete and whether the premium can be modelled differently or in a better way. This is important because issuing an incorrect premium is risky. If the premium is too high, customers turn to the competition, whereas a premium that is too low costs too much money or is not enough to cover any claim.’

‘So, there are always four eyes that look at a document, which shows that risk at Nationale-Nederlanden is taken very seriously. And that’s what I feel responsible for. So, it’s challenging to use my knowledge to make the right assessments and manage the risks. And the work is great too! This is partly to do with the maths involved, but also the collaboration with my colleagues to calculate the correct premium.’

‘I’ve worked at Nationale-Nederlanden for just over a year now. The job really appealed to me. I used to work in the so-called front line, where the price is calculated. I thought it would be a lot of fun to get some experience across the second line. For example, I’m interested in the European Solvency Directive that envisages a supervisory framework for insurers and is supposed to make sure that insurers hold sufficient capital to avoid bankruptcy. But there was something else that attracted me to the role at Nationale-Nederlanden: I came from an income protection insurer and also wanted to gain knowledge and experience at a non-life insurer.’

‘A robust risk culture is important for Nationale-Nederlanden and the customer. As an insurer, you are after all selling products that cover a certain risk for the customer. Of course, this brings risks for Nationale-Nederlanden. The question is to what extent you’re willing to discover those risks and to recognise, accept and manage them. Risk managers help answer that question, so you could  say: NN Risk is enabling the business.’

‘We are facing some great challenges. For example, everybody agrees that the non-life market is set to change: just look at self-driving cars. They bring specific risk issues with them, because to what extent can the driver of such a car be held liable for an accident? Or is the manufacturer responsible? Or perhaps the supplier of the software?’

‘This example shows how wide-ranged the risk profession is. You can get involved in a lot of things and you get to see the many sides of our great company. This is what makes the work as a risk expert at Nationale-Nederlanden so attractive.’

Thomas de Boer
Financial Risk Manager, NN Non-life & Income