Climate reporting and AI are immediate growth opportunities for the actuarial profession, according to the incoming President of the Actuaries Institute, Mr Scott Reeves.
At the same time, he urges actuaries to continue to expand beyond traditional financial services into sectors like FMCG, manufacturing and utilities. according to a statement released by the Actuaries.
In his 2026 Presidential Address, “Do You Know Why Your Customers Value You?” Mr Reeves highlights that actuaries are uniquely positioned to guide businesses through mandatory climate disclosures and apply judgement where AI outputs require expert insight.
The veteran actuary said that real value comes from understanding why clients value actuarial problem-solving skills across industry borders.
“As actuaries, we’re trusted to meet the CEO or board's brief and our mandated obligations with precision and high quality,” he said. “We are in a remarkable position to truly make a meaningful difference.”
“Actuaries are uniquely positioned to guide businesses through the new mandatory climate disclosure regime which applies across all industries.”
When it comes to AI, Reeves says the opportunities could supercharge the work actuaries do with and for their clients. “AI is a powerful tool that can enhance what we can do. Our ability to manage evolving uncertainty is so valuable,” he said.
“AI will displace many rules-based processes. But if you take the outputs of AI and reach a point where what’s required is judgement and depth of insight – that’s where we’ve always played and can continue to do so.”
Mr Reeves spent much of his career as a reinsurance underwriter and has over 30 years' experience in senior roles across Australia, Asia and the UK. He has held many leadership positions at the Actuaries Institute, including Chair of Audit and Risk Council Committee and Nominations Council Committee.