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  #21  
Old 01-02-2020, 05:19 PM
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pricing actuaries lift
:ctm:
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  #22  
Old 01-02-2020, 06:09 PM
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Actuary jobs are being and will be outsourced to countries with cheaper labour. Your professional bodies will sell you out. They won't care where their customers are.
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  #23  
Old 01-02-2020, 06:26 PM
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Originally Posted by actuary_truther View Post
Actuary jobs are being and will be outsourced to countries with cheaper labour. Your professional bodies will sell you out. They won't care where their customers are.
Have some threads:

http://www.actuarialoutpost.com/actu...ht=outsourcing

http://www.actuarialoutpost.com/actu...ht=outsourcing

http://www.actuarialoutpost.com/actu...ight=automated

http://www.actuarialoutpost.com/actu...ight=automated

http://www.actuarialoutpost.com/actu...ht=outsourcing

http://www.actuarialoutpost.com/actu...ht=outsourcing

http://www.actuarialoutpost.com/actu...ht=outsourcing

http://www.actuarialoutpost.com/actu...ht=outsourcing


And yes, outsourcing has already happened in some situations.

This may also be of interest:
https://h1bdata.info/index.php?em=&j...ity=&year=2019
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  #24  
Old 01-02-2020, 08:46 PM
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Actuary jobs are being and will be outsourced to countries with cheaper labour. Your professional bodies will sell you out. They won't care where their customers are.
To where? Credentialed Canadian actuaries makes less than Chinese actuaries on average. How about just outsourcing actuarial work to Canada
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  #25  
Old 01-02-2020, 08:50 PM
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shrinkage

like a frightened turtle
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  #26  
Old 01-03-2020, 08:06 AM
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Actuaries sometimes tell the truth that once qualified firms want to get rid of you and replace with cheaper actuarial students. They don't want departments full of qualified actuaries. That's too expensive. These are the truths people need to know before embarking on a long qualification process.
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Old 01-03-2020, 09:14 AM
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Actuaries sometimes tell the truth that once qualified firms want to get rid of you and replace with cheaper actuarial students. They don't want departments full of qualified actuaries. That's too expensive. These are the truths people need to know before embarking on a long qualification process.
Member of an Indian Actuarial Organization who endlessly posts about the relations between the UK and EU societies while prophesying to US actuaries on the side about how the end is near...
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  #28  
Old 01-03-2020, 09:21 AM
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Originally Posted by actuary_truther View Post
Actuaries sometimes tell the truth that once qualified firms want to get rid of you and replace with cheaper actuarial students. They don't want departments full of qualified actuaries. That's too expensive. These are the truths people need to know before embarking on a long qualification process.
If this is true then people going through the exams absolutely should know this. However, this isn't what I have seen where I have worked (in the U.S.). They encouraged/required exam progression.
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Old 01-03-2020, 09:48 AM
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Actuaries sometimes tell the truth that once qualified firms want to get rid of you and replace with cheaper actuarial students. They don't want departments full of qualified actuaries. That's too expensive. These are the truths people need to know before embarking on a long qualification process.
This has been around as a possibility forever. Is there anything special about right now?
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Old 01-03-2020, 10:09 AM
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I once made the unpopular argument that we should focus on building a team of just a few actuaries with good automation programming skills. Have them understand the company and needed processes, build them out, and then have a group of business analysts run those processes.

They went the opposite route, hiring all students (good ones imo), to effectively run junk processes as they pass exams. But as they became credentialed, there were not enough advanced roles open for them, so now many processes are being run by credentialed actuaries. Im guessing a handful of them get promoted, but then they will be left with a large group of credentialed actuaries running analyst level processes.

both methods have pros/cons. My pitch was mainly shot down due to key person risk. They loved rotating people all over the place to prevent any one person from gaining to much responsibility. But I still think eventually you have to take that risk because the result of their method is just a series of never ending junk processes that never get developed.
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