ACTUAL WORK OF AN ACTUARY
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raunav
This is one question which all actuarial aspirants encounter, be it from friends, relatives, or others. Even today, at least in India very few people are aware of such a professional course. Let’s put some light on what’s the task of an actuary:-
Evaluating the likelihood of future events—using numbers, not crystal balls.
Designing creative ways to reduce the likelihood of undesirable events.
Decreasing the impact of undesirable events that do occur.
Even after having pursued this course for years, some still answer that ” Actuaries mostly work in the insurance sector”, which is a very vague answer as in an insurance company, there are several people involved in different tasks, it is mandatory to mention what actuaries do in the insurance company, in simple terms we model the insurance policies that people purchase by taking into consideration all the relevant factors into account . We also play an important role in determining whether a claim is genuine or not. Actuaries are steadily gaining the recognition they deserve in many sectors, even the BIG 4 are recruiting actuaries and so on.
In a nut shell Actuaries are professionals who ascertain the risk associated with almost anything in the world and come up with a plan to mitigate the risk.
#actuaries #actuarialscience #becominganactuary #actuarylifeÂ
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