My guest for Episode 105 is Barry Swartzberg, ASA, B.Sc., CFP, FASSA, FFA, Executive Director and Co-Founder at Discovery Limited.

The theme for the episode is 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗶𝗻 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀𝗵𝗶𝗽 - 𝗣𝗮𝗿𝘁 𝟮.

Barry and I covered the following topics:⁣

✅ Barry’s motivation for becoming an entrepreneur 
✅ The vision behind Discovery Limited 
✅ Starting a business during the fall of Apartheid 
✅ The shared-value insurance model 
✅ Shaping South Africa’s insurance and financial services landscape
✅ Barry’s biggest entrepreneurial challenges 
✅ What it takes to be a successful entrepreneur 
✅ Transitioning from entrepreneur to intrapreneur 
✅ Areas where actuaries can add value beyond insurance 
✅ Tips for the next generation of entrepreneurs 

Time Markers

3:50 : Risk-seeking culture in South African actuarial community.

5:42 : First actuarial role as product development actuary.

13:00 : Motivation for becoming an entrepreneur and co-founding Discovery Limited. 

18:20 : Addressing unaddressed gaps in the South African insurance market (demand-focused approach).

21:14 : Value creation during political turmoil (post-Apartheid era).

24:59 : Discovery Limited’s shared-value insurance model (medical savings accounts, incentivized wellness programs and risk savings).

33:14 : Developing a system to track diet and exercise before the era of big data.

37:39 : Adapting behavioral mindset in managing health, motor, banking, and retirement risks.

47:20 : How Barry contributed to Discovery’s success as an executive.

51:44 : Notable challenges for Discovery Limited (entering the US market).

55:05 : Getting companies to scale, risk-taking, ideation, sales, pricing, marketing, and implementing marketplace feedback.

1:01:02 : Non-traditional opportunities for actuaries (managing supply and demand of electricity).

1:04:30 : Tips for aspiring entrepreneurs.

If you are seeking to explore entrepreneurship, you want to watch this.

My Website: maverickactuary.com