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  #41  
Old 05-02-2019, 05:35 PM
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I understand that it needs to be increased. I'm just curious how you chose a factor of 3 instead of 1.5 or 4 or 7. It seems like you did a lot of work, and that multiplicative factor would have a huge impact on the result. I'm not sure how something like that would be estimated.
Actuarial Judgment...
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Old 05-03-2019, 11:41 AM
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It would be interesting to me to know how many millions of dollars are decided on each day in the U.S. based on actuarial judgment. I guess that kind of estimate would require actuarial judgment.
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Old 05-03-2019, 04:01 PM
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I'm an FSA in the health field with about ten years of experience working in a consulting firm in a mid-level management role. I've worked for two different companies, one was an insurance firm and the other is a consulting firm. Problem is that I don't enjoy my job as an actuary. I never have I feel like I just repeat the same processes over and over again. No creativity involved and I am so bored. A secondary issue is that I feel I haven't become the expert that I wanted to be- i work for a small consulting firm and dont have too much exposure to other actuaries to learn from. I am considering switching fields to computer programming. But I am conflicted. I've put so much time into this career. Do other actuaries like their jobs? Am I just in the wrong position? Should I change fields?
I essentially felt the same way as you do in the bolded parts above. I left at about 3-3.5 years and ASA... I don't regret those 3 years (worked with some fantastic people, and I needed exposure to the business world), but I'm also glad I left. I really care about healthcare - but I just don't see the really interesting stuff in the industry coming from actuaries in their traditional roles.
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Old 05-06-2019, 12:48 PM
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It would be interesting to me to know how many millions of dollars are decided on each day in the U.S. based on actuarial judgment. I guess that kind of estimate would require actuarial judgment.
A LOT. But it's not like it's pulled out of our butts. It's that whole thing where "intuition" is largely based on an pile of experience. Actuarial judgement gets used a lot, but it's almost exclusively used by actuaries with 10+ years of experience under their belts.
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