Regarding Actuary Course
This query is : Resolved
08 December 2008
Dear Sir,
There is a course named as Actuary Course from The Institute Of Actuaries Of India. I would like to know how far will it be useful if i take up this course. I am doing my C.A.Final.
I am willing to practice the proffession after i clear my C.a. So will i be able to earn more if i am an Actuary.I would like to know regarding the Scope of this course.
Waiting for your Reply.
Thanking You,
Praveen
There is a course named as Actuary Course from The Institute Of Actuaries Of India. I would like to know how far will it be useful if i take up this course. I am doing my C.A.Final.
I am willing to practice the proffession after i clear my C.a. So will i be able to earn more if i am an Actuary.I would like to know regarding the Scope of this course.
Waiting for your Reply.
Thanking You,
Praveen
08 December 2008
Career Opportunities
The actuaries work in wide range of areas which include the following
Life insurance
General insurance
Health insurance
Reinsurance Companies
Pension funds
Consultants
Investments
Government
Academics
Risk Management
The actuaries work in wide range of areas which include the following
Life insurance
General insurance
Health insurance
Reinsurance Companies
Pension funds
Consultants
Investments
Government
Academics
Risk Management
08 December 2008
Life, General, Health Insurance and Reinsurance Companies
Traditionally Actuaries work with Life Insurance Companies, but their importance lies equally in General and Health Insurance Companies also.
The areas of their concern include:
Product design, which includes designing new policies as per the changing requirements of the customers, Pricing the policy, ie. Setting the suitable premiums for the benefits and services offered by the company Profit Testing and distribution of profits among Shareholders and Policyholders.
Actuaries help the management of the company in running the business in sound financial manner and to take strategic decisions from time to time.
The Appointed Actuary of a Company has the responsibility of demonstrating financial stability of the company to the State Regulatory Authorities at all times.
Traditionally Actuaries work with Life Insurance Companies, but their importance lies equally in General and Health Insurance Companies also.
The areas of their concern include:
Product design, which includes designing new policies as per the changing requirements of the customers, Pricing the policy, ie. Setting the suitable premiums for the benefits and services offered by the company Profit Testing and distribution of profits among Shareholders and Policyholders.
Actuaries help the management of the company in running the business in sound financial manner and to take strategic decisions from time to time.
The Appointed Actuary of a Company has the responsibility of demonstrating financial stability of the company to the State Regulatory Authorities at all times.
08 December 2008
Consultants
Consultants can act as Appointed Actuaries for General Insurance companies
They also provide actuarial advice and their opinion on actuarial matters for Insurance Companies, Pension Funds, Government, etc.
They provide investment advice to individuals that best suit their needs and family circumstances.
They calculate the reversionary interests of members of Trusts.
Consultants can act as Appointed Actuaries for General Insurance companies
They also provide actuarial advice and their opinion on actuarial matters for Insurance Companies, Pension Funds, Government, etc.
They provide investment advice to individuals that best suit their needs and family circumstances.
They calculate the reversionary interests of members of Trusts.
08 December 2008
Risk Management
Fast Evolving field in recent days, for any massive project with lot of uncertainties.
Identifying the various stages in the project while execution
At each stage, identifying all the risk which may result in not meeting the expected outcome or estimated time
Assigning a probability parameter to each of the identified risks
Finding out a suitable measure to avoid or transfer those risks
Processing the above-identified stages to various steps after allowing for the risk measures
Fast Evolving field in recent days, for any massive project with lot of uncertainties.
Identifying the various stages in the project while execution
At each stage, identifying all the risk which may result in not meeting the expected outcome or estimated time
Assigning a probability parameter to each of the identified risks
Finding out a suitable measure to avoid or transfer those risks
Processing the above-identified stages to various steps after allowing for the risk measures
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