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  #1  
Old 02-04-2019, 08:22 PM
Bryden38 Bryden38 is offline
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Default First Internship in P&C

Hi AO,

First time here, please be gentle. I just started my undergrad in actuarial math this past September. My university requires I do four 4-month internships between semesters staring this summer.

Through a stroke of luck, I managed to land an internship with a fairly large insurance company this summer. The office in my city only does P&C.

While I think it's perhaps a bit preemptive to choose this early on, I've been leaning towards the CAS route. The type of work involved seems to suit me better.

Would it be advisable to focus solely on securing internships in P&C in the future, or should I try to diversity my experience in life/health/etc? Do you think taking MAS-I would be a turn-off for getting an internship at non P&C employers?
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  #2  
Old 02-04-2019, 09:00 PM
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hostess hostess is offline
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ABSOLUTELY diversify. don't be too concerned about exams crossing over just yet. The first 3 will cross so take them first.

Don't commit to a discipline just cause you started it. Use the next 4 years to figure out what you want to do for the next 40 years.

taking MAS-1 will probably not add much value for non P&C companies (and I'd advise you not to list it on a resume you send to a non P&C company).
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  #3  
Old 02-04-2019, 09:10 PM
Colymbosathon ecplecticos's Avatar
Colymbosathon ecplecticos Colymbosathon ecplecticos is offline
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Quote:
Originally Posted by hostess View Post
ABSOLUTELY diversify. don't be too concerned about exams crossing over just yet. The first 3 will cross so take them first.

Don't commit to a discipline just cause you started it. Use the next 4 years to figure out what you want to do for the next 40 years.

taking MAS-1 will probably not add much value for non P&C companies (and I'd advise you not to list it on a resume you send to a non P&C company).
MAS-I (and -II, but especially -I) are basic modern statistics needed for predictive modeling etc. If you pass it (them), you would be foolish to not include that fact on a resume.
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Old 02-04-2019, 09:28 PM
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ShundayBloodyShunday ShundayBloodyShunday is offline
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Do you enjoy your finance courses? Do you enjoy the material found on the financial engineering and annuity/life-insurance calculations? If the answer here is "YES!", you're more likely going to enjoy the L/H side of the fence.

If you enjoy the material on MAS-I, then you're likely going to enjoy the P&C side of the fence.

If you find that you don't enjoy the work from your first internship, don't use that as a reason to go all-out for the "other side". There is just as much variation in "satisfaction" by working for various companies within the same line of work (P&C vs. Life vs. Health vs. etc.) as there are between the lines of work.

The best thing to get from your internships are increased/improved soft skills and an assessment of "would I enjoy working here for several years?".
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Old 02-04-2019, 09:34 PM
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Quote:
Originally Posted by Colymbosathon ecplecticos View Post
MAS-I (and -II, but especially -I) are basic modern statistics needed for predictive modeling etc. If you pass it (them), you would be foolish to not include that fact on a resume.
The problem I see is that employers would think the candidate does not know the difference between SOA and CAS (i.e. did not do his/her research). If OP includes it, I think its important to communicate that he knows it doesn't apply rather than just list it as an exam.
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Old 02-04-2019, 10:20 PM
Westley Westley is offline
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Quote:
Originally Posted by ShundayBloodyShunday View Post
Do you enjoy your finance courses? Do you enjoy the material found on the financial engineering and annuity/life-insurance calculations? If the answer here is "YES!", you're more likely going to enjoy the L/H side of the fence.
A "YES!" seems to suggest (s)he would like the Life side. Why do you include Health in there? Doesn't seem very connected - I'd say that material is at least as relevant to P&C as it is to Health.
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Old 02-04-2019, 10:33 PM
hjacjswo hjacjswo is offline
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Originally Posted by Westley View Post
A "YES!" seems to suggest (s)he would like the Life side. Why do you include Health in there? Doesn't seem very connected - I'd say that material is at least as relevant to P&C as it is to Health.
Haha, yes. all the financial stuff doesn't really relate to health. maybe long term care tho, which is a niche line
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Old 02-04-2019, 11:01 PM
Bryden38 Bryden38 is offline
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Quote:
Originally Posted by ShundayBloodyShunday View Post
Do you enjoy your finance courses? Do you enjoy the material found on the financial engineering and annuity/life-insurance calculations? If the answer here is "YES!", you're more likely going to enjoy the L/H side of the fence.
The only finance course I've taken is a course that covers the topics on FM. Besides the VEE requirements, which I don't intend on doing soon, I have no plans to take more finance classes.

I have plans for IFM in July, I'll see how much I like that. I've played around (unsuccessfully) with the stock market and options in the past, I do have some interest in it.

I'm taking an introductory statistics class right now. If the content it at all similar to the P syllabus I'm sure I'll like it.
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  #9  
Old 02-05-2019, 02:02 AM
hjacjswo hjacjswo is offline
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when I was coming out of college, I interviewed at a life company. I asked a FSA what she likes about life insurance, and she said she likes that math is easy in life insurance. I think maybe P&C is more statistics oriented. I personally don't care too much for it. But, some people really seem to like that aspect. Know that later exams will look nothing like exam p, tho.

With taht said, you should keep your options open, especially to health. I think P&C can be pretty limited in terms of geographical mobility. I feel like health offers the most geographical mobility.
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Old 02-05-2019, 12:33 PM
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Quote:
Originally Posted by hjacjswo View Post
when I was coming out of college, I interviewed at a life company. I asked a FSA what she likes about life insurance, and she said she likes that math is easy in life insurance. I think maybe P&C is more statistics oriented. I personally don't care too much for it. But, some people really seem to like that aspect. Know that later exams will look nothing like exam p, tho.

With taht said, you should keep your options open, especially to health. I think P&C can be pretty limited in terms of geographical mobility. I feel like health offers the most geographical mobility.
AFAIK the math can potentially get a lot more complicated in life than it can become in P&C... mostly cause you're dealing with interest rate risks much more heavily which can me more easily quantified than something like collision risks.

From what I've heard, variable annuity hedging can become a particularly complicated exercise math wise.
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