Sydney, 1 October 2019 – Australian actuarial and analytics firm Finity Consulting has acquired dbn actuaries, a specialist private health insurance (PHI) actuarial firm based in Sydney.
dbn provides Appointed Actuary services, pricing, capital management, financial monitoring and strategic advice to a large number of Australian private health insurers. Merging the dbn business with Finity’s established PHI team will significantly increase the depth of expertise available to both Finity’s and dbn’s clients.
“Building more scale in the PHI consulting market through this acquisition positions Finity well to deliver an even broader range of actuarial and analytical services tailored specifically to the needs of Australian health insurers. The environment for our PHI clients is a challenging one given the evolving expectations of customers, regulators and other stakeholders, but our goal at Finity remains the same – to deliver insights and strategic capabilities which support our clients as they innovate and grow. The dbn team bring an impressive set of skills to Finity and we are very excited to be working alongside them,” said Finity Managing Director, Scott Collings.
Established in 2014, the dbn team of nine actuarial staff provides Appointed Actuary services to 25 Australian PHIs. Their broad industry knowledge and insights are highly sought after in the health insurance market. When coupled with the advanced analytics capabilities and suite of data products developed by Finity, the combined team will provide a powerful and unique offering for private health insurer clients.
“Finity’s health insurance team have been respected peers of dbn for many years. More recently we have worked together on a number of key health insurance industry projects through the Actuaries Institute. Finity is a natural fit for dbn, mirroring many of our working philosophies to empower insurers with the practical yet deep insights that actuaries provide,” added David Torrance, Director, dbn actuaries.
We can also announce that Finity will be further strengthening its PHI team with the addition of Andrew Matthews, who was most recently Chief Actuary at Australia’s largest health insurer Medibank Private.
The dbn team joins Finity’s Sydney office on 1 October, while Andrew will join the Melbourne office in November.
Finity is a leading independent actuarial and analytics consulting firm with 150 staff including actuaries, statisticians, management consultants, data scientists & engineers, and software developers. We have deep domain knowledge in insurance, finance, climate risk and healthcare. In 2018 Finity was a proud recipient of the Insurance Industry’s Professional Services Firm of the Year award in both Australia and New Zealand. www.finity.com.au