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  #1  
Old 03-31-2006, 07:50 PM
AstuteBeauty107 AstuteBeauty107 is offline
 
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Default Scared to death that actuary careers for Am. are going to faze out like Textiles...

are my fears valid? What do you ya'll thing about actuary careers being outsourced?
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  #2  
Old 03-31-2006, 08:16 PM
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Quote:
Originally Posted by AstuteBeauty107
are my fears valid? What do you ya'll thing about actuary careers being outsourced?
Some will disagree, but I cannot see how any meaningful chunk of actuarial demand can be outsourced. Reasons:

(1) Particularly in consulting, it is not practical to have the deliverables produced in, say, India, for delivery to a US client. US clients want their valued business advisers to be relatively close. A large part of the consulting "product" is the relationship between client and consultant.

(2) Expanding on (1), US-based consulting actuaries, and insurance actuaries too, will not be willing to relinquish control/oversight of the work that they are putting their names on. If they are not actually producing the deliverables, they will still need to be physically close to the producers of their work, in order to exercise due diligence and quality control.

(3) Even if the impracticalities in (1) and (2) could be overcome, because of the distances involved the client deliverables would take just forrrrevvvvverrrrr to produce; clients are not going to tolerate long waiting times.

Just an opinion.
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Old 04-01-2006, 07:21 PM
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great3981 great3981 is offline
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Quote:
Originally Posted by Texas_Acty
Some will disagree, but I cannot see how any meaningful chunk of actuarial demand can be outsourced. Reasons:

(1) Particularly in consulting, it is not practical to have the deliverables produced in, say, India, for delivery to a US client. US clients want their valued business advisers to be relatively close. A large part of the consulting "product" is the relationship between client and consultant.

(2) Expanding on (1), US-based consulting actuaries, and insurance actuaries too, will not be willing to relinquish control/oversight of the work that they are putting their names on. If they are not actually producing the deliverables, they will still need to be physically close to the producers of their work, in order to exercise due diligence and quality control.

(3) Even if the impracticalities in (1) and (2) could be overcome, because of the distances involved the client deliverables would take just forrrrevvvvverrrrr to produce; clients are not going to tolerate long waiting times.

Just an opinion.
I disagree in general. I think that the deliverables are 100% transportable, and all that is necessary is meeting face-to-face for the final report, the transportation for which is much cheaper than the office next door. The difference currently is that few credentialled actuaries want to move to India and too much competition in the work environment for a company to be able to do it.
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Last edited by great3981; 04-01-2006 at 07:33 PM..
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Old 04-03-2006, 11:33 AM
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Quote:
Originally Posted by great3981
I disagree in general. I think that the deliverables are 100% transportable, and all that is necessary is meeting face-to-face for the final report, the transportation for which is much cheaper than the office next door. The difference currently is that few credentialled actuaries want to move to India and too much competition in the work environment for a company to be able to do it.
You are right, of course, the information deliverables are indeed transportable. But the human aspect of the business relationship is not. And that is often more important in the relationship than cost.

Do you really believe that a defined benefit plan sponsor located in, say, Lubbock, TX or Hagerstown, MD or Baker, OR will have no preference between getting his consulting done out of Dallas (or Washington or Seattle) or New Delhi? Do you really believe that "they" just need to figure out how to motivate wholesale numbers of actuaries to relocate, then all is lost?

Do you believe there is any realistic possibility that a critical mass of US actuaries is going to migrate to Asia?

Last edited by Texas_Acty; 04-03-2006 at 11:36 AM..
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Old 04-03-2006, 11:41 AM
DW Simpson DW Simpson is offline
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Can actuarial work be outsourced to lower cost countries? Is it being outsourced? What are the future trends?:

http://www.actuarialoutpost.com/actu...4&postcount=28
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Old 04-03-2006, 11:50 AM
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Will gooback actuaries from the future come back in time to replace today's actuaries for pennies an hour?

They tehk er jebs!
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Old 04-03-2006, 11:56 AM
PistolPt01 PistolPt01 is offline
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THEY TUK UR JAAABS!!!
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