Leveraging Actuarial Skills for Conservation Impact

Hello Wildlabs Community,

I'm an experienced actuary with a deep passion for wildlife and conservation. With over 15 years in the insurance industry, I've honed my skills in data analysis, risk assessment, and predictive modeling, and I've led teams in developing innovative solutions to complex problems.

Recently, I've felt a strong calling to apply my expertise to the field of conservation, where I believe these skills can contribute significantly to understanding and mitigating risks to wildlife populations and habitats. I'm particularly fascinated by the potential for modeling habitat changes, population dynamics, and the impact of human activities on wildlife. My goal is to find ways to use data and analytics to make a real difference in the conservation of endangered species and their environments.

I'm eager to connect with professionals, researchers, and organizations in the conservation tech space who are interested in exploring how actuarial and analytical skills can further conservation efforts. Whether it's through project collaboration, R&D initiatives, or simply sharing insights and learning more about the field, I'm open to all opportunities to contribute.

Thank you for welcoming me into this inspiring community. I look forward to any advice, suggestions, or opportunities for involvement you might share.

Best regards,

Ruhan Coetzer
South Africa

Stephanie O'Donnell

@StephODonnell | She / Her

WILDLABS

Fauna & Flora

I'm the Executive Manager at WILDLABS.

15 March 2024 12:48pm

Hi Ruhan,

Welcome to our community! Can I ask what might be a basic question... but I'm guessing if I have it, other people will also?

So what exactly does an actuary do? I understand it's working with data and risk analsyis, but could you attempt to translate over to our world with some tangible examples? Like... what sort of project or challenge could you imagine helping with? What would be your dream person to hear from?

Steph

Ruhan

15 March 2024 12:48pm

Hi Steph,

Thanks so much for welcoming me to WildLabs and for posing a question that really gets to the heart of what I believe I can offer to the community.

Actuaries, by trade, are experts in risk management and financial forecasting, using data from the past to predict future trends and outcomes. But it's how this expertise can apply to conservation that's truly exciting to me.

For instance, consider coral reefs, vital ecosystems facing existential threats from climate change and human activities. An actuary could help by modelling the intricate dynamics between environmental factors and reef health, assessing the financial implications of their decline not just on local communities, but globally. This is similar to how we model financial risks and potential losses due to environmental changes in the insurance industry. It’s about understanding the value of conservation, not just in ecological terms, but also in clear financial language that can speak to both the public sector and private enterprises.

The innovative work within this community, from Sara Beery's advancements in computer vision to Ben Mirin's creative engagement with wildlife sounds, showcases the power of interdisciplinary approaches. I am in awe of these efforts and am keen to see where someone with my background in predictive analytics and financial impact assessment can fit in.

As a newcomer eager to contribute, I'm particularly interested in exploring projects where we can apply actuarial science to optimize conservation funding or model the economic benefits of preserving ecosystems like coral reefs. These models can help make a compelling case to stakeholders about the urgency of conservation efforts, bridging the gap between ecological necessity and financial strategy.

I’m here not just to bring my skills to the table, but to learn from all of you and find where I can best contribute to the incredible work being done here.

Looking forward to finding my place in this inspiring community.

Best regards,

Ruhan

@rucoetzer | Him/He

Actuary with a passion for data analysis

15 March 2024 5:04pm

Hello again,

I’ve been reflecting further on our discussions and wanted to share another perspective that bridges our worlds.

The insurance industry, particularly in property and casualty, which is a multi-trillion-dollar market globally, is facing unprecedented challenges due to environmental changes. Traditionally, insurers have relied on historical data to forecast future risks. However, the rapid pace of climate change is rendering centuries of data increasingly irrelevant, putting immense pressure on the industry to adapt quickly.

This situation presents an interesting parallel to conservation efforts. Just as insurers are now considering investments to mitigate environmental risks to protect their financial interests, there's a growing recognition that protecting natural habitats and biodiversity is not just an ethical imperative but also a financial necessity. The urgency that insurers feel to adapt and invest in mitigating climate risks mirrors the urgent need for action within conservation to prevent irreversible damage to ecosystems like coral reefs, forests, and more.

I wonder if there's an opportunity for a collaborative approach where conservation projects can align with the insurance industry's need to invest in environmental protection as a means of safeguarding their own future. Such projects could offer innovative, data-driven solutions to conservation challenges while also providing insurers with viable strategies to reduce their exposure to environmental risks.

I’m fascinated by the potential for our fields to collaborate, leveraging the financial muscle of the insurance industry to support conservation efforts on a scale that could make a significant difference. What are your thoughts on this? Could there be a space for actuaries in designing conservation strategies that also serve to mitigate future financial risks for insurers?

Looking forward to hearing your thoughts and exploring potential synergies.

Best, Ruhan

Akiba

@Freaklabs

Freaklabs

I'm an engineer and product designer working on wildlife conservation technology.

19 March 2024 3:44am

Hi Ruhan.

Sent you a DM. It sounds interesting and possibly can intersect with our work in environmental and ecosystem monitoring.

Thanks.

Akiba

Carly Batist

@carlybatist | she/her

Science Outreach Lead-Rainforest Connection (RFCx) & Arbimon; Ecoacoustics, biodiversity monitoring, primates, lemurs

19 March 2024 7:52pm

I would look into the TNFD (Taskforce on Nature-Related Disclosures), Finance for Biodiversity, Accounting for Nature, etc. which are all focusing on how to incorporate nature risk into corporate reporting and sustainability frameworks!

Leveraging Actuarial Skills for Conservation Impact

Ruhan

Groups

Stephanie O'Donnell

WILDLABS

Fauna & Flora

Ruhan

Akiba

Freaklabs

Carly Batist