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  #1  
Old 10-22-2006, 12:24 PM
mushrooman mushrooman is offline
 
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Default Ph.D in actuarial science/applied math

I am curious about the prospect of those with Ph.d in actuarial science/applied math in insurance industry, especially in Europe and Aisa?
Does the capacity of doing research pay? A motivating example is that when we want to make more realisitc computation of ruin probability, we may want to add something like geometric brownian motion (even levy driven process) for asset process to the initial problem of ruin.

Any input is highly appreciated.
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Old 10-22-2006, 12:40 PM
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I can't answer your question as stated, as my doctorate is in theoretical mathematics (optimization theory). But I've definitely found my degree to be an advantage in the actuarial field so far.
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Old 10-22-2006, 03:41 PM
mushrooman mushrooman is offline
 
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Glad to have your reply, DoctorNo. So it seems some more mathematical skills are always appreciated, right? Does your Ph.D degree also help you with promotion if i may ask?
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Old 10-22-2006, 08:46 PM
DW Simpson DW Simpson is offline
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Quote:
Originally Posted by mushrooman View Post
I am curious about the prospect of those with Ph.d in actuarial science/applied math in insurance industry, especially in Europe and Aisa?
Does the capacity of doing research pay? A motivating example is that when we want to make more realisitc computation of ruin probability, we may want to add something like geometric brownian motion (even levy driven process) for asset process to the initial problem of ruin.

Any input is highly appreciated.
The European and Asian roles that we work on have so far been similar to our experience with the North American market: most clients wants actuarial exams and internship/co-op experience. The advanced degrees are nice but usually unnecessary.

Here are some useful threads:

http://www.actuarialoutpost.com/actu...0&postcount=37

http://www.actuarialoutpost.com/actu...0&postcount=70
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Old 10-22-2006, 09:17 PM
horace goldfarb horace goldfarb is offline
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Wharton has a PhD in Insurance and Risk Management, and some of their faculty have actuarial credentials. I'm sure that the consulting work on the side would play plenty, if you don't mind staying in academia.
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Old 10-22-2006, 10:13 PM
rrr3221 rrr3221 is offline
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Quote:
Originally Posted by DoctorNo View Post
I can't answer your question as stated, as my doctorate is in theoretical mathematics (optimization theory). But I've definitely found my degree to be an advantage in the actuarial field so far.
Optimization is applied math
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  #7  
Old 10-22-2006, 10:14 PM
rrr3221 rrr3221 is offline
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Quote:
Originally Posted by mushrooman View Post
I am curious about the prospect of those with Ph.d in actuarial science/applied math in insurance industry, especially in Europe and Aisa?
Does the capacity of doing research pay? A motivating example is that when we want to make more realisitc computation of ruin probability, we may want to add something like geometric brownian motion (even levy driven process) for asset process to the initial problem of ruin.

Any input is highly appreciated.
Many actuaries get into research and learn how to do this stuff with no PhD, but if you wnat it for personal reasons that would be good enough reason
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Old 10-22-2006, 10:47 PM
tommie frazier tommie frazier is offline
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can it help advancement? yes. does it typically matter? not usually. exams and experience in the field. proving new theorems does not typically come up. but the math skills you have can help you think through things that not everyone can. so in that regard (which is likely what dr no meant) it can help.
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  #9  
Old 10-23-2006, 12:08 AM
Actuarias Actuarias is offline
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Ph.D. requires much more work to get for sure! FSA is better to have!
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  #10  
Old 10-23-2006, 12:23 AM
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Quote:
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I can't answer your question as stated, as my doctorate is in theoretical mathematics (optimization theory). But I've definitely found my degree to be an advantage in the actuarial field so far.
Optimization is applied math
Thanks for the tip.

Believe it or not, but I know what optimization is.

Also believe it or not, but I know what department I received my doctorate in. And considering that my university's programs in theoretical mathematics and applied mathematics were in different colleges and in different buildings, I think I would have noticed walking into the wrong building for seven years.

But again, thanks for the tip.
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