Taylor Fry

 

Paul Driessen

Principal

Introduction

Paul has more than 20 years of experience in the insurance industry in both corporate and consulting roles, with a special interest in injury schemes.

He is a highly regarded actuary, known for his commercial acumen and for his expertise in compulsory third party (CTP) insurance and workers’ compensation. His corporate experience in these fields was largely developed while working with Insurance Australia Group (IAG).  Since joining Taylor Fry in 2009 Paul has provided advice to insurers and scheme regulators, including the Motor Accidents Authority of NSW (MAA),  NSW Self Insurance Corporation and RiskCover in Western Australia. Paul’s work for the MAA included a regular review of insurer CTP pricing submissions and an in-depth review of the Claims Assessment and Resolution Service (CARS).

Paul’s clients appreciate his straight-forward approach and clear communication skills, demonstrated in a training program that he created and continues to deliver for analysts and front line supervisors at the Australian Prudential Regulation Authority (APRA).

Experience

Prior to joining Taylor Fry in 2009, and working at IAG (1998-2008), Paul was a consultant at Tillinghast-Towers Perrin, and spent two years in their US practice.

Accident Compensation and Insurance Liability Valuation

As Head Actuary for Statutory Classes and then for the Direct Insurance business at IAG, Paul provided pricing, premium rating and insurance liability valuation advice for workers’ compensation, CTP, home and motor insurance lines of business.  As Practice Leader of Injury Schemes at Taylor Fry, Paul has regularly advised the MAA and has provided insurance liability valuation advice to a number of accident compensation schemes and insurers, including the Insurance Commission of Western Australia (ICWA), the NSW Self Insurance Corporation and Optus, a self-insurer under the Comcare scheme. Paul also provides pricing and valuation advice to the ICWA with respect to the CTP and Lifetime Care and Support schemes in Western Australia.

Budgeting and Monitoring

Whilst at IAG, Paul was responsible for the provision of forecasting, monitoring, management information and reporting advice for CTP and short-tailed personal lines products. He currently estimates the premium contribution requirements for the WA RiskCover scheme and advises the MAA (from 2013) on levy contribution rates and funding requirements.

CONTACT Paul

Paul.Driessen@taylorfry.com.au

(02) 9249 2922 | Sydney

 

Areas of expertise

  • Injury Schemes
  • Insurance Liability Valuation
  • Budgeting and Monitoring

Qualifications

  • Fellow of the Actuaries Institute since 1998
  • Bachelor of Science Honours (Physics), Australian National University (1989)

Professional Activities

  • Member of the Accident Compensation sub-committee, Actuaries Institute (2003 to 2006)
  • Member of organising committee for the Accident Compensation Seminar, Actuaries Institute (2003 and 2005)
  • Chair of the committee for redrafting the professional standard on NSW CTP premium rate certification, Actuaries Institute (2007-2008)
  • Chair of the CTP Working Group and presenter of the CTP Scheme update at the Accident Compensation Seminar, Actuaries Institute (2009)
  • Convenor of the Accident Compensation Seminar, Actuaries Institute (2011)
  • Member of organising committee for the Injury Schemes Seminar (2015)