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Actuaries Working in New Fields: Part 3
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In this third instalment of our series exploring actuaries who have forged careers beyond traditional domains, we meet Maathu Ranjan and Anna Stephens. Both are passionate about public service and health, and both are using their actuarial training to drive meaningful change in government and healthcare systems.
Maathu Ranjan
Maathu’s career began at Finity, where she increasingly focused on injury and disability schemes as her knowledge and interest grew. Her secondment to the National Disability Insurance Agency (NDIA) turned into a permanent role where she has progressed to Senior Actuary over the years. Maathu is also a Sir Roland Wilson PhD scholar at the Australian National University’s Crawford School of Public Policy. Her research involves wrangling large administrative datasets to understand how government policy affects outcomes for people with disability, particularly children with neurodevelopmental conditions.
“It’s a bit of a luxury to combine technical skills, a greater purpose and time to deeply ponder complex problems in your everyday job.”
Her work at the NDIA spans across evaluating policy, assessing risk and promoting sustainability in a pay-as-you-go government scheme. She had to learn the economics of policy, develop a contemporary understanding of disability and navigate working in a government environment with immense public scrutiny, familiarise with the language of economics and policy governance and adjusting to writing for different audiences — from policymakers to the public.
“Actuaries sit at the impact zone: where big societal problems and increasing data capability meet.”
Anna Stephens
Anna’s career began in consulting at EY, her early exposure to health modelling and policy impact analysis sparked a deep interest in the sector.
During the COVID-19 pandemic, Anna built a dynamic simulation modelling team to test the impact of integrated models of care on health system sustainability. She now works in the finance division of NSW Health, focusing on funding flows and financial strategy.
Anna is often the only actuary in the room, working alongside biostatisticians, data scientists, engineers and accountants. She believes actuaries excel at integrating disciplines and communicating across technical boundaries.
"Actuaries can use their specialist knowledge and stakeholder engagement skills to bring multiple disciplines together."
She sees great value in partnering with specialists, such as data engineers who optimise code efficiency and believes actuaries can amplify their impact by combining breadth with others’ depth.
Her roles often involve focused analysis: testing hypotheses, exploring utilisation patterns and evaluating the financial implications of policy changes. She is especially interested in shifting from activity-based to outcome-based funding models in healthcare.
Both Maathu and Anna exemplify how actuaries can thrive in new roles by combining analytical capability with a strong sense of purpose. Their stories reflect a shared commitment to using data for good, a willingness to adapt, and a belief in the power of collaboration.
The decision to move beyond traditional insurance roles was rooted in a desire to make a meaningful impact. Maathu was inspired by her upbringing in a public service-oriented family and a strong belief in uplifting vulnerable communities. Her work at the NDIA allows her to apply actuarial thinking to social policy, helping shape outcomes for millions of Australians.
“Working in government means decisions that impact millions of Australians, involving billions of tax-payer dollars. I use my actuarial skillset to inform good decisions, because these decisions can change peoples’ lives.”
Anna was drawn to health from the outset. She found herself more motivated by public health than traditional insurance. Her work spans across everything from COVID-19 modelling to funding strategy at NSW Health, always with a focus on improving systems and outcomes.
“I’ve always been interested in health. I want to make a difference.”
Both actuaries emphasise that while their roles have evolved, their actuarial training remains central. Maathu describes actuaries as “decoders of information,” capable of guiding policy and operational decisions with evidence-based insights.
“Our core skill is decoding information and guiding decisions, whether in business or government," shares Maathu.
Anna echoes this, noting that her work often involves hypothesis-driven analysis and its financial implications.
They also highlight the importance of understanding context. This could mean learning the economics of government policy and the nuances of disability legislation or mastering the language of health funding and partnering with specialists like data engineers and biostatisticians.
The value of interdisciplinary collaboration was highlighted by both of their journeys. Anna works closely with technical experts, data engineers, scientists, statisticians and accountants, who bring deep domain knowledge. Her skill set was uniquely positioned to bridge these disciplines, thanks to her broad training and communication skills.
Maathu sees actuaries as translators, able to connect the dots between data, policy and people. Her work often involves translating complex feedback from stakeholders into actionable insights for technical teams and vice versa.
Both actuaries have embraced steep learning curves. Maathu had to develop a contemporary understanding of disability and the economics of public policy. In her PhD, she’s learning new research methods and translating evidence to different audiences in the academic, public and private sectors.
Anna has navigated transitions from consulting to public health, from private to public sectors, and from Australia to New Zealand and Europe. She encourages actuaries to explore public datasets, publish insights and stay curious.
“There’s a lot of health data in the public domain. I have seen many young actuaries use this to hone their analytical and communication skills.”
Both Maathu and Anna are deeply engaged with the future of the profession. Maathu’s upcoming presidency at the Actuaries Institute is driven by a desire to ensure the profession remains relevant and inclusive. She advocates for greater diversity in government and leadership, with a broader vision of where actuaries can add value.
“There are complex societal problems that need innovative solutions – climate change, energy, housing, social services, health, education – actuaries can provide unique skills and perspective to tackle these.”
Anna supports initiatives like the data science accreditation and sees potential for mentoring programs to support actuaries in government and public health.
While this series highlights actuaries working in new fields, the deeper message goes beyond job titles. It’s about how we, as actuaries, choose to apply our skills. Whether you’re working in insurance, superannuation, or government, you’re likely already partnering with experts from other domains, influencing decisions, and delivering value to Australians every day.
The profession is evolving and so are the ways we contribute. The question is not just where you work, but how you work, who you collaborate with, and what kind of change you want to be part of.
Are you an actuary working in a non-traditional field? Whether you're in technology, climate science, social policy or another domain outside insurance and superannuation, we'd like to feature your experience. Your story could help other actuaries understand the breadth of opportunities available and how actuarial skills translate across different sectors.
Contact us at [email protected] to share your insights and be part of this ongoing series about actuaries in diverse roles.
