Career prospects in actuarial sciences
If I continue with actuarial science then what are my career prospects? How to become an Actuary?
Actuaries have a vast and specialized knowledge and work in a wide range of areas like life insurance, general insurance, pensions and employee benefits, health insurance, reinsurance
companies, investment, consultancies and risk management. Actuarial science is also applied to property, casualty, liability and general insurance. They also have good scope in criminal
justice as recognised that the actuarial skills can be applied to various ranges of applications outside the traditional fields of insurance, pensions, etc. Insurance sector is the widest area
but due to increasing needs of the companies to manage their finances, some other non -insurance sectors such as employee benefits, asset management, broking, consulting companies are also showing increasing interest into hiring actuaries.
In India a fellow member of the Institute of Actuaries India (IAI) is known as an Actuary. To become a fellow member, a one has to first become a student member of the Institute and
then clear all the papers of the Institute and fulfil other criteria from time to time.
Is actuarial science globally recognized?
Ans. Yes, it a globally recognized course with mutual exemptions with a lot of other international actuarial institutes. Studying abroad is a way to gain exceptional experience to enhance your business education. We are recognized as thought leaders in domains, relating to the strategic management of risk, business analytics, actuarial science, and risk management and
various other insurance. We have excellent scholarship programmes and the quality of our educational programmes have a positive influence on our profession as well as the lives of our students, alumni and those who they interact with.
Actuaries must pass a series of professional exams administered by the society of actuaries and casualty actuarial society to receive the credential of associate or fellow. Temple
University offers one of the most diverse actuarial science programs in North America. Located in the Department of Risk, Insurance and Healthcare management, the actuarial program gives students the opportunity to develop a strong foundation in mathematics and statistics while being given exposure to wide range of business disciplines.