How to become an actuary - actuarial jobs - Are you interested in a career as an actuary?
Actuaries are responsible for assessing risks in order to help insurance companies determine the premiums for insurance policies. The actuary will analyze the data in order to estimate the likelihood of certain events such as injury or property loss, and often uses complex computerized systems to determine how much an insurance company has to pay in a claim.
Factors that these professionals will take into account include age, gender, and driving history if the actuary is working for an insurance agency. Most of them will advise clients on a contractual basis, and they may also have to testify in court if a person is injured or killed in an accident, in order to estimate the value of future benefits.
Most actuaries will work 40 hours a week in an office, and often use computer technology to set premiums. The job itself is fairly low pressure and will typically require very little over time, although consulting actuaries may have to travel with me with their clients.
How to become an actuary
These professionals will need a strong background in areas such as statistics, business, and mathematics, and the insurance agency will usually require them to have a bachelor’s degree and pass a range of tests in order to become certified. Actuarial licensing is provided by the Society of Actuaries and the Injury Actuarial Society, which certifies individuals in the areas of life insurance, retirement, financing, health benefits, and investment.
On-the-job training will usually begin performing various functions such as supervising clerks, preparing research and writing letters, and moving from one position to another as they advance in responsibility.
In 2006, actuaries had more than 18,000 jobs in America, with more than half of them employed by insurance agencies, and the rest being independent brokers who sold insurance policies. Job growth is expected to increase rapidly over the next ten years, and employment opportunities for those with bachelor's degrees should remain high in the future.
In 2006, the average 50th percentile for actuarial jobs made between $ 59,000 and $ 115,000, with the Life Office Management Association reporting that entry-level professionals would earn an average of $ 53,111 in their first year. Actuaries with managerial responsibilities often receive higher rates of pay, and most of those who work for insurance agencies will receive excellent benefit coverage.
To find out more please download this app How to Become an Actuary
Actuaries are responsible for assessing risks in order to help insurance companies determine the premiums for insurance policies. The actuary will analyze the data in order to estimate the likelihood of certain events such as injury or property loss, and often uses complex computerized systems to determine how much an insurance company has to pay in a claim.
Factors that these professionals will take into account include age, gender, and driving history if the actuary is working for an insurance agency. Most of them will advise clients on a contractual basis, and they may also have to testify in court if a person is injured or killed in an accident, in order to estimate the value of future benefits.
Most actuaries will work 40 hours a week in an office, and often use computer technology to set premiums. The job itself is fairly low pressure and will typically require very little over time, although consulting actuaries may have to travel with me with their clients.
How to become an actuary
These professionals will need a strong background in areas such as statistics, business, and mathematics, and the insurance agency will usually require them to have a bachelor’s degree and pass a range of tests in order to become certified. Actuarial licensing is provided by the Society of Actuaries and the Injury Actuarial Society, which certifies individuals in the areas of life insurance, retirement, financing, health benefits, and investment.
On-the-job training will usually begin performing various functions such as supervising clerks, preparing research and writing letters, and moving from one position to another as they advance in responsibility.
In 2006, actuaries had more than 18,000 jobs in America, with more than half of them employed by insurance agencies, and the rest being independent brokers who sold insurance policies. Job growth is expected to increase rapidly over the next ten years, and employment opportunities for those with bachelor's degrees should remain high in the future.
In 2006, the average 50th percentile for actuarial jobs made between $ 59,000 and $ 115,000, with the Life Office Management Association reporting that entry-level professionals would earn an average of $ 53,111 in their first year. Actuaries with managerial responsibilities often receive higher rates of pay, and most of those who work for insurance agencies will receive excellent benefit coverage.
To find out more please download this app How to Become an Actuary
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