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MERJE
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November marks three years since Adam Jones joined the MERJE team and kicked off our journey into Actuarial recruitment. Here's a quick catch-up with the man himself about what's going on in the space right now... #Actuarial #Actuary #QualifiedActuary #LifeInsurance #GeneralInsurance #Insurance #InsuranceJobs #ActuaryJobs
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Kate Henebry
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It was great to see this article in last week's The Actuary Magazine. Actuaries who switch from life to non-life, or vice versa, often face a steep learning curve. The two insurance segments have distinct challenges and switching requires actuaries to adapt and develop new skill sets. The article underlines that despite these hurdles, the decision to make the leap can ultimately prove to be a game-changing choice in one's career, offering opportunities for personal development, diversified expertise, and a more exciting professional journey. Whether you are starting off in a new discipline, new company or new country (or simply considering a change), it's important to welcome the unknown and take a 'leap of faith'. If you're ready to make a change, or have any questions about the actuarial job market, please get in touch at kate.henebry@raretec.ie or call 0851279934 for a confidential chat.https://lnkd.in/gcjAjJGT
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Redcliffe Training
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🚀 Exciting News Alert!🔥 Redcliffe Training is thrilled to unveil our latest in-house course: Introduction to Insurance Modelling and Valuation! Master insurance modelling and insurance finance with an industry titan, guiding you every step of the way.💡 Gain invaluable insights into insurance modelling techniques and valuation methodologies to stay ahead in the dynamic landscape of the insurance sector.🌟 Elevate your skills and enhance your career prospects with this comprehensive course tailored for professionals seeking to excel in insurance finance. This is a must for valuation professionals and those working in financial modelling.Ready to take your expertise to the next level? Contact us today to learn more!#InsuranceFinance #FinancialModelling #ValuationMethods #ProfessionalDevelopment #RedcliffeTraining
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Rafael Costa
Staff Operational Safety & Risk Engineer at Cruise
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Employers Ramp Up Exam Support for Latin American Students - Actuarial Review Magazine https://ar.casact.orgPassing Casualty Actuarial Society (CAS) exams is quite hard. Now imagine how much harder it would be without employer support.This is how it used to be in Latin America, but we are starting to see employers stepping up to support their talent — and they are seeing the benefits already! Check out this article, where I interviewed Alejandra Zaparolli, ACAS and Juan G. Moreno, who championed the creation of CAS exam study programs within their companies.If you are an actuarial manager and would like to implement a study program within your company, please reach out and we will be happy to help!#ActuarialReview
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Glen Gusewelle
Vice President & Consulting Actuary | Model Risk Governance | SOX / MAR Compliance | SAB99 Remediation | Financial Reporting | Quality Assurance | Appointed Actuary | Enterprise Risk Management |
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What is an actuarial analyst and how do they help professional service firms make risk-related services? Jan DeClue does a great job of describing the duties of an actuarial analyst and how L&E can offer solutions to the insurance industry. Read her article via the link in the comment section. #lewisandellis #actuary #actuarialanalyst
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Tony Johnson
Principal (Equity Owner), Deloitte Consulting LLP
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Actuarial Roles of the Future https://www.theactuarymagazine.org#actuaryofthefuture #actuaryTake a look at a recent point of view of what roles for the actuary professional may look like in the future.
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The Actuarial Club, University of Lagos
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What is an Actuary ?
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Madelene Lara
10 years experience in (Re) Insurance Industry. Pricing expert. Willing to relocate.Master in International Business & Economics, Actuarial Science Bachelor's degree,
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a good explanation of what is an actuary...
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Andy Hardy
Investment and Pensions Actuary at ISRP (OECD)
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Actuarial examiners 𝐋𝐎𝐕𝐄 compound distributions. Most exams in the UK’s actuarial exams test a students understanding of them and so it is critical to know how they work and how to generate them in R (especially for the CS2 exams).But, why are compound distributions useful?1. 𝚁̲𝚎̲𝚊̲𝚕̲𝚒̲𝚜̲𝚖̲: By combining the distributions (typically poisson and gamma for insurance claims), we account for both the frequency and severity of events (e.g. insurance claims).2.𝙵̲𝚕̲𝚎̲𝚡̲𝚒̲𝚋̲𝚒̲𝚕̲𝚒̲𝚝̲𝚢̲: The approach allows us to model a wide range of scenarios, accommodating various shapes and scales of claim distributions.Let’s breakdown what the compound distribution for an insurer (and a typical actuarial exam question) might look like. Intuitively you are going to need to know how many claims there were and how much was claimed under each policy. Aggregate claims are often modelled with a Poisson distribution and the claim amount with a gamma distribution. Why use poisson distribution? Because it gives you a given number of events (in our case insurance claims) and wℎy use tℎe gamma distribution? Because it’s a non-negative distribution, just like insurance claims are non-negative. So…botℎ seem perfect for use.So…we combine them using the poisson distribution for how many claims and the gamma distribution to model the size of each underlying claim.Sounds easy….but how’s it done in R?We assume: Poisson has a parameter of 500 (think of this as the average number of claims) and we want to simulate 100 outcomes. So (in R), we use:𝑛=𝑟𝑝𝑜𝑖𝑠(100,500)[The function 𝑟𝑝𝑜𝑖𝑠(𝑥,𝑧) gives x random numbers from a poisson distribution with shape parameter z]So, we know for 100 simulations, how many claims we have. Now we need to know how big a claim is made for each simulation.𝑈𝑠𝑒 ℎ𝑒𝑎𝑑(𝑛) 𝑡𝑜 𝑠𝑒𝑒 ℎ𝑜𝑤 𝑚𝑎𝑛𝑦 𝑐𝑙𝑎𝑖𝑚𝑠 𝑡ℎ𝑒𝑟𝑒 𝑎𝑟𝑒 𝑖𝑛 𝑡ℎ𝑒 𝑓𝑖𝑟𝑠𝑡 6 𝑠𝑖𝑚𝑢𝑙𝑎𝑡𝑖𝑜𝑛𝑠.Now we need a little loop (don’t forget to define s at the outset though!)𝑠=𝑛𝑢𝑚𝑒𝑟𝑖𝑐(100)𝑓𝑜𝑟 (𝐼 𝑖𝑛 1:100){𝑥 = 𝑟𝑔𝑎𝑚𝑚𝑎(𝑛[𝑖], 𝑠ℎ𝑎𝑝𝑒 = 250, 𝑟𝑎𝑡𝑒 = 0.25)𝑠[𝑖] = 𝑠𝑢𝑚(𝑥)}There you go! You have the total claim amounts over 100 simulations where the average claim amount of each policy is 100 (gamma shape parameter divided by rate parameter)That should be easy enough to get you full marks on your next actuarial exam question on compound distributions!#actuaries
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Gravitas Recruitment Group (Global) Ltd
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Inhouse insurer versus consultancy – which is the best route for your actuarial career?Let’s consider the variables:👉 What stage are you in your career e.g. 1-5 years, 6-10 years, 10+ years👉 What are your own aspirations?👉 Does your personality suit the specific challenges and opportunities of the role?👉 What does the specific employer offer that is different to other companies?Our Senior Consultant, Charlotte (Charlie) Wright, has produced some guidance to help your career planning.Charlie also spoke with actuarial professionals Jonathan Charalambous, (Reinsurance Pricing Analyst) and Richard Stock (Head of Property and Casualty) to learn first-hand about their experience in working both inhouse and for a consultancy. Thank you both for your insights!It’s important to keep an open mind when learning which routes might help to boost your career. Read the full blog to learn more:https://lnkd.in/eaSC4njM#consultancy #actuarial #insurance #careeradvice
Inhouse Insurer vs Consultancy: How to Diversify Your Actuarial Career
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