TOP TEN REASONS TO BE AN ACTUARY

Why become actuary? Well, it is a usual question arise by every student for every profession. I will try to explain in simple words.


Most actuaries love being actuary because it allows them to use their talents, apply their math skills in a business setting and have a meaningful positive impact. Being an actuary you are helping the people, you are helping them get good health care, you are helping them protect themselves in old age, and you are creating economic growth. But there are other more great reasons to consider a career as an actuary, are as follows:

IMPORTANCE OF ACTUARIAL SCIENCE AND RISK MANAGEMENT

Actuaries are the back bone for the insurance company. Without them, there is no concept of insurance company. They work for insurance companies and predict the profitability of various customers by using the mathematical and statistical formulas. An actuarial degree makes you perfect in Mathematics, Statistics, Economics, Finance and as well as in other subjects of it. After the study of college actuaries spend 5 to 10 years for taking the specialized actuarial exams to become Fellows of the actuarial society. Actuaries estimate the present value cost for future uncertainty like accidents, deaths, natural disaster, disability and lawsuits. Actuaries are engaged in life insurance, retirement benefit consultancies, asset management, post retirement medical benefit, EOBI and provisional social security institutions for the cost of retirement benefit plans. They also involved in periodic valuation of life insurance business, pensions and other investment benefits liabilities.  Some fields of actuaries are as follows: