Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Careers - Employment
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



Reply
 
Thread Tools Search this Thread Display Modes
  #31  
Old 01-10-2019, 04:54 PM
yoyo's Avatar
yoyo yoyo is offline
Member
CAS
 
Join Date: Dec 2001
Posts: 23,708
Default

Quote:
Originally Posted by PeppermintPatty View Post
Speaking as someone who has done ceded and assumed P&C insurance, and also non-reinsurance, there is plenty of interesting work in the non-reinsurance arena. And while there's plenty of interesting and challenging work in reinsurance, I had some pretty tedious stuff, too.
+1, although my experience isn't as broad as PPs

get up high in the reserving chain in P&C and you might find yourself helping run the company. this is a plus if you want to do more than straight up analysis and actuarial work, a minus if quant only work is what floats your boat
Reply With Quote
  #32  
Old 01-10-2019, 06:49 PM
Canadiens Fan Canadiens Fan is offline
Member
SOA
 
Join Date: Oct 2013
Location: Canada
Studying for Life ALM & Modeling
Favorite beer: Blue Moon Belgian White
Posts: 4,756
Default

I've worked full-time in Life (both Pricing and Valuation) so I'll only comment on that.

If you have the prelim exam LTAM passed then that will give you the basics behind life insurance mathematics. The FSA exams teach you a lot more about the work/business side of life insurance.

Valuation is repetitive where you follow the same procedure every month/semester to calculate reserves and other regulatory requirements. If you have experience working with Excel, Access and Txt files, the work basically comes down to downloading txt files containing the policyholder data, then uploading it in a commercial valuation software, clicking buttons that calculate the reserves for you. You also calculate some reserves manually in Excel cause the model hasn't been set up yet in the valuation software. When you're not calculating reserves/required capital, you can work on correcting/building models. The department you mostly interact with is Accounting cause you give them the reserves which go on the balance sheet as liabilities. If you like technical work that doesn't require much interaction with people, Valuation is a good department for that.

Pricing is more varied where you never really know what to expect on a day to day basis unless you are working on some project. You can price products by updating assumptions based on company data and industry studies, and then comparing the product premiums to those of competitors and decide where you want to stand. You can compare product features and underwriting tests to those of competitors and adjust your product accordingly. You interact with other departments such as Underwriting, Marketing and Sales. If you like less technical work, but more interacting with people, then Pricing is a good department to be in. You still need good technical skills.
__________________
ASA LP LFVC LAM
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 10:35 AM.


Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.26699 seconds with 9 queries