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Career as an Actuarian

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About Career as an Actuarian

An actuary is a highly trained statistician with expertise in evaluating various types of risks.The job of actuary involves detailed analysis of data to quantify risks. It also requires expertise with advanced modeling techniques to forecast future probabilities of various outcomes, such as losses or claims and their expected magnitudes. While technical expertise and quantitative skills are a must, advancement is dependent, to a great degree, on the ability to communicate effectively with managers who lack this background. Do not confuse an actuary with an insurance underwriter, who evaluates applications for insurance, and makes decisions on whether to accept or reject them. An actuary works at a more macro level, setting the high-level parameters that guide insurance underwriters.

Career Prospects of Career as an Actuarian

Roughly 60% of actuaries are employed by insurance companies, and play a key role in setting the terms and conditions of insurance policies, including premium rates. An actuary also has career opportunities in pension fund management, forecasting future payouts and determining current contributions and investment policies in light of them. Additionally, actuaries (either in-house or consultants) help companies in all industries design and implement policies and procedures to mitigate risks in various aspects of their operations.

Skills & Education Required for Career as an Actuarian

An actuary is expected to have at least a bachelor’s degree. There is prescribed coursework in statistics or actuarial science (a branch of applied statistics), plus business, finance and economics. A high degree of computer literacy is increasingly important, especially with regards to software packages commonly used for database and statistical analysis. An MBA can be a useful credential, depending on the firm.

Comments/ Reviews on Career as an Actuarian

  • Iam BE-mechanical ,is that eligible Posted By : mageshkumar.m, on 21-11-2011 12:37:24 Report Abuse

  • Sir i am pursuing actuarials and want to enhance my computer skills,which course should i go for SAS OR VBA.Please contact on my no. or email........ regards ESHA Posted By : esha pathak, on 21-05-2011 20:44:44 Report Abuse

  • i m little bit confused plz do help me Posted By : KAPIL DHINGRA, on 10-05-2011 14:32:54 Report Abuse

  • i m little bit confused plz do help me Posted By : KAPIL DHINGRA, on 10-05-2011 14:32:41 Report Abuse

  • Pls mail be the details about the course as an actuary, the fees stucture, duration of the course and the institute conducting the course. Posted By : kishor, on 08-04-2011 11:41:13 Report Abuse

  • CLAIMS DEPT Posted By : RAJESH YADAV, on 18-01-2011 07:32:04 Report Abuse

  • Please help me regarding the following. .fee and duration. .job prospectus of this course. can I pursue this along with my job. Posted By : sandeep singh, on 10-01-2011 08:07:22 Report Abuse

  • What are the duration of course , Fees & syllabus Acturian Posted By : jyoti, on 15-12-2010 01:26:09 Report Abuse

  • please send us the various details/fulll details and institutes regarding the course. Posted By : Vasu singhal, on 16-11-2010 22:42:32 Report Abuse

  • As my basic edu. qualification is B.Com., LL.B., CA -INTER, PGDFM(DDL). I am running 36 yrs.at present. I want to pursue course of Acturian" . I m residing @Surat & salaried Employee working @ Surat. So how best i can pursue thi course. So do send me e-mail incorporating all course details along with Fees and Centres available in Gujarat State. Feel free to contact me thru email which will be highly appreciated. Posted By : JIGNESH KAPADIA, on 11-11-2010 03:16:37 Report Abuse

  • Please do provide me some colleges of acturial science engg courses in karnataka Posted By : marvin fernandez, on 13-06-2010 06:34:13 Report Abuse

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