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Non-Traditional Actuarial Areas



One of the most confusing questions among Actuarial Students...


What are the non-traditional Actuarial Areas?


To understand Non-traditional areas, first of all, let's discuss Traditional Actuarial areas.


➡ Insurance Industry

  • Pricing

  • Reserving

  • Valuation

  • Develop and manage insurance products

  • Statutory reporting

  • AAA rating

  • ORSA

➡ Consultancy

  • Design and management of pension, retirement, and employee benefit programs

  • Providing financial services

➡ Reinsurance

➡ Property and Casualty Insurance

It's time to grow in the non-traditional Actuarial areas like,

➡ CAT Modelling

➡ Predictive Analytics (A new report on the global Predictive Analytics market shows substantial growth through 2026.)

➡ Predictive Modelling

➡ Data Mining

➡ Business Analytics

➡ ERM (Enterprise Risk Management)

  • Market risk, Credit risk

  • Operational risk

  • Calibration of risk events

  • ERM cycle - identify, measure, action, monitor

➡ Investment and Fund Management

➡ Banking and Financial Services

  • Advice for investment and capital

  • Equity Analysis

  • Asset-liability matching

  • Credit risk

  • Product designing for insurance-related investment products

➡ Wealth Management and Financial Planning

➡ Entrepreneurial Actuaries

➡ Big Data Analysis

➡ Modeling

➡ Climate Change

➡ Mergers & Acquisitions

➡ Development of Actuarial software/systems

➡ Actuarial Audits

➡ Research and academics

Written by: Kalpesh Agrawal (Jr. Actuarial Officer- IIB)

Email ID: kalpeshagrawal2000@gmail.com


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