History & Background

i3 Actuaries and Consultants was established at the end of 2014 in Cape Town. The founder of the business, Nico Smit, decided that the best way to develop his passion for actuarial consulting would be to start his own business.

The business was created on three main principles:

        • Independence: No external influence or institutional shareholding;
        • Integrity: Always focus on the client’s best interest; and
        • Ingenuity: Well researched, informed and innovative consulting solutions.

The business started small but the intention is to grow over time by adding like-minded people to the staff compliment of the business. We aim to eventually provide the clients of i3 Actuaries and Consultants with a full range of actuarial services and, through local offices, across a variety of geographical locations in Southern Africa.

Our Commitment

i3 Actuaries and Consultants has invested in the necessary infrastructure and technology to ensure that our clients experience efficient and timeous service. We have the necessary disaster recovery and Professional Indemnity insurance in place to ensure that our clients are not prejudiced if an adverse event would occur.

BEE

i3 Actuaries is a level 4 B-BBEE contributor based on the Codes of Good Practice published in 2013.

Meet the Team

Nico Smit

Actuary
B.Com (Hons), FASSA, FSAN Nico graduated from the University of Stellenbosch in 1999 with an Honours degree in Actuarial Science, following which, he commenced his career in the Actuarial Department of Jacques Malan Consultants and Actuaries (RSA) (Pty) Ltd. During his time at Jacques Malan Consultants and Actuaries, he has been involved in a wide array of actuarial disciplines. Nico also has extensive experience in the Healthcare Actuarial field in which he has been involved since 2002. His involvement included the provision of consulting and actuarial services to medical aid schemes and the calculation of healthcare related accounting liabilities. In addition, he holds a Practicing Certificate for statutory work on Life Insurers and he is the Statutory Valuator for the life insurance clients of i3 Actuaries and Consultants. He has assisted clients with all aspects of their business including statutory valuations, product design, investment strategy, mergers and acquisitions and setting their capital management framework. Nico has served in a variety of management positions within Jacques Malan Consultants and Actuaries and was appointed the Chief Executive Officer in 2010. He was a member of the team that facilitated the merger between NMG and Jacques Malan Consultants and Actuaries. Following the merger which took place on 1 January 2013, Nico decided to pursue a new career focused on consulting to clients and he has decided to join True South Actuaries with effect from 1 November 2013. He gained further consulting experience during his time at True South Actuaries. He established i3 Actuaries and Consultants at the end of 2014. He qualified as an actuary in 2004 through the Faculty of Actuaries in Scotland and the Actuarial Society of South Africa. He has recently become a member of the Society of Actuaries of Namibia.

Kobus Crous

Consultant

Kobus commenced his career in 1989 at Sanlam in their Group Benefits Department where he was responsible for the overseeing of all administrative functions required in terms of the privatization of the Government Institutions Pension Fund. He then joined Alexander Forbes in 1992, where he was responsible for the management of their Namibian office until 1995.

Kobus then joined Jacques Malan Consultants and Actuaries Namibia as one of the organisations founding members in 1995 where he served in the capacity as Managing Director until the merger with NMG in 2013. During his tenure at Jacques Malan Consultants and Actuaries he was also for a couple of years responsible for the management of the business operation in Botswana.

At NMG he continued serving in the position as Managing Director of the Namibian operation until his resignation end November 2014. At NMG he also served on the Executive Committee of the Group of Companies. Kobus has a wealth of experience in the employee benefits environment and over the last 26 years of his career he has consulted to some of the largest corporate and parastatel funds in Namibia.

He was also one of the founding members of the Retirement Funds Institute of Namibia in 1997.

Adriaan Rowan

Actuary

M.Sc, FIA, FASSA

Adriaan qualified as an Actuary with the designation of Fellow of the Institute and Faculty of Actuaries (F.I.A.) from the Institute and Faculty of Actuaries in London in 2012. On returning to South Africa he also received his Fellowship from the Actuarial Society of South Africa in 2015. Adriaan has a B.Comm (Hons) from the University of Stellenbosch (2005) and an M.Sc in Data Analytics from the University of Cape Town.

Adriaan has a passion for bringing the insurance industry and actuarial science into the 21st Century world of Data Analytics, whether it be the identification of insurance fraud, automating solutions to reduce human error, or using machine learning to model their mortality experience.

He also is the owner of Know Your Health (Pty) Ltd, which focusses on educating people on the impact of the health choices on the life expectancy. To find out more, visit https://www.knowyourhealth.co.za/

Adriaan has worked in various consulting roles for Jacques Malan Consultants and Actuaries in Cape Town and Deloitte Actuarial and Advanced Analytics in London and as a Research and Analytics actuary Gen Re Africa. Adriaan was also contracted by the World Bank and International Monetary Fund to help the Kenyan Insurance Regulatory Authority write and publish their Micro Insurance and Index-based Insurance policy papers.