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

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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

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

Email ID: kalpeshagrawal2000@gmail.com