Biographies
Karl Murphy, MA, FIA, FSAI - Partner
Karl graduated from Trinity College, Dublin in 1990, with a first class honors degree in Mathematics and Economics. His main areas of study were in statistics and econometrics, and received the Gold Medal for his final exam results.
On graduation, Karl joined the non-life department of consulting actuaries Bacon & Woodrow, before joining EMB in 1993. Karl has considerable experience in many areas of non-life insurance, and clients include insurance companies, Lloyd's syndicates, captives and brokers. His main expertise is in personal lines insurance, and is considered to be one of the UK's leading personal lines pricing experts. Karl has played an important role in the development of EMBLEM software, EMB's pricing tool that is now used by 50 insurers around the world. More recently Karl has being introducing the new capital modelling techniques developed by EMB to personal lines clients.
Karl has spoken at conferences throughout the world, including at several American Casualty Actuarial Society seminars, the South African Actuarial Society’s General Insurance Convention, the UK's GIRO conference, and for the Actuarial Society of India. He co-authored a paper entitled "Using Generalized Linear Models to Build Dynamic Pricing Systems" that appeared in the CAS Forum, and has written several articles that have appeared in the insurance press on various topics.
He has served on the Institute of Actuaries' GIRO Committee and Research Steering Committee. Karl qualified as an actuary in 1998, and is a Lloyd's signing actuary. He is also a Fellow of the Society of Actuaries in Ireland and Signing Actuary.
Papers Published
• Murphy & McLennan (2005). A Method for Projecting Individual Large Claims. This paper addresses the issue of estimating the uncertainty in the run off of individual large claims in insurance portfolios, which is often the primary source of uncertainty in the reserving risk component of insurance risk.
• Brockman, Murphy & Lee (2000). Using GLMs to Build Dynamic Pricing Systems. Written by three EMB partners, this paper explains how a dynamic pricing system can be built for personal lines business, whereby profit loads and risk premiums can be tailored to the individual behavioural characteristics of the customer.
karl.murphy@emb.com