Is there an actuary adjacent job where it’s considering/researching what sorts of things should be paid attention to? Like who decides how dangerous certain activities are? Actuaries seem to work off a set of collected data, but who collects it and how?
@@user-yf5gf9bp7i You're asking about risk assessment, which is closely linked to actuarial science. While actuaries analyze data, roles like underwriters and risk analysts focus on identifying which risks to study. Researchers help collect and interpret data, often working with actuaries. If you’re interested in deciding what risks matter, these roles might fit!
What "actuarial software" do you use on a daily basis? I've been told by my professors that it's a combination of Excel, SAS, and R, but they have not mentioned an "actuarial software."
@@mentalmap25 Great question! For daily work in actuarial science, Excel, SAS, and R are indeed the core tools you'll use. Some actuaries also use specialized actuarial software like Prophet or GGY AXIS for more complex tasks. It can vary depending on the company and the specific projects you're working on. Hope this helps!
Great video. I'm a final year ActSci student in South Africa, and I recommend your videos to anyone that might be interested in studying to become an actuary!
This video has been incredibly helpful as an actuarial student pursuing my graduate course. I found it highly informative and look forward to more videos like this, particularly those covering actuarial projects to enhance my resume.😊
I actually have a video where I talk about what a good actuarial resume should look like, basically an outline you can follow when writing your own resume. I also have a video where I review resumes and identify areas for improvement. You can watch them here: 1. ua-cam.com/video/VsjP7KSh_Zo/v-deo.htmlsi=P5b2FbIuB-zROaDO 2. ua-cam.com/video/OXEXis0sE0k/v-deo.htmlsi=ksFkSvnPSp7EGyY4 3. ua-cam.com/video/MgoHQdBEae8/v-deo.htmlsi=ntKDPTXDZaWa5a9j Hope this helps. Don't hesitate to reach out if you have more questions!
Would it be allowed to do this sort of work within something like Python, as long as the output file at the end is Excel? That way the process could be automated and save a lot of time and money. Just wondering as a data analyst that recently became interested in becoming an actuary. I pretty much avoid doing anything directly in Excel (except for really small/quick tasks) and instead do it in Python with an Excel file output at the end in order to have everything I do be 100% reproducible (minimizing human error) and of course to save time/effort redoing the same tasks manually in Excel. Also just want to add -- really appreciate the work you do, your videos have been very helpful as I've been researching the career and I've seen you answer questions in the r/actuary newbie thread, very cool!
Thank you so much for your kind words! I'm really glad the videos have been helpful in your research. To answer your question, yes, it’s generally allowed to use Python for actuarial work, as long as the final output is in Excel or another required format. Automating processes with Python can save a lot of time and reduce manual errors, so you're thinking in the right direction. But still, Excel is heavily used in many actuarial roles, particularly for communication with non-technical teams. So, being able to work in both Python and Excel gives you a strong edge in the field.
You know what, I made a mistake in including that. I'm really not sure what I was thinking there. Thanks for pointing it out. The insurance company will get the money from premiums that it receives from policy holders and also money earned from investments that they've previously made
While giving exam . Do you guys just study all day ? Never use phone for fun ? Give an honest answer . If yes how you guys study long hours and when you guys have fun’s like movies social media?? Please reply
Studying for actuarial exams can be intense, and it’s true that it often involves long hours of focused study. But, it's important to balance studying with breaks and fun. Many of us make time for social media, movies, and other activities to stay refreshed and motivated. It's all about finding a routine that works for you while making sure you’re still hitting your study goals.
@@anshumansrivastava4372 Hi Anshuman! You’re never too old to pursue actuarial science, especially if you love math and stats. Many people start their actuarial careers later in life, and your experience can be a huge asset. The important thing is to focus on passing the exams and building your skills. Actuarial science is about problem-solving, and your passion for it is what truly matters. Keep going!
What aspect of actuarial work are you most curious about? Share your thoughts below! 😊
Is there an actuary adjacent job where it’s considering/researching what sorts of things should be paid attention to? Like who decides how dangerous certain activities are? Actuaries seem to work off a set of collected data, but who collects it and how?
@@user-yf5gf9bp7i You're asking about risk assessment, which is closely linked to actuarial science. While actuaries analyze data, roles like underwriters and risk analysts focus on identifying which risks to study. Researchers help collect and interpret data, often working with actuaries. If you’re interested in deciding what risks matter, these roles might fit!
What "actuarial software" do you use on a daily basis? I've been told by my professors that it's a combination of Excel, SAS, and R, but they have not mentioned an "actuarial software."
@@mentalmap25 Great question! For daily work in actuarial science, Excel, SAS, and R are indeed the core tools you'll use. Some actuaries also use specialized actuarial software like Prophet or GGY AXIS for more complex tasks. It can vary depending on the company and the specific projects you're working on. Hope this helps!
Great video. I'm a final year ActSci student in South Africa, and I recommend your videos to anyone that might be interested in studying to become an actuary!
Aww, I'm so happy my videos have helped! Thanks for recommending them, it means a lot 🥰 Best of luck with your last year of school!
This video has been incredibly helpful as an actuarial student pursuing my graduate course. I found it highly informative and look forward to more videos like this, particularly those covering actuarial projects to enhance my resume.😊
Thanks so much for your kind words! 😊 I'm really glad you found the video helpful.
I'm an actuary graduated that work in management accounting.😅
hey, can you drop a good resume template that you used?
I actually have a video where I talk about what a good actuarial resume should look like, basically an outline you can follow when writing your own resume. I also have a video where I review resumes and identify areas for improvement. You can watch them here:
1. ua-cam.com/video/VsjP7KSh_Zo/v-deo.htmlsi=P5b2FbIuB-zROaDO
2. ua-cam.com/video/OXEXis0sE0k/v-deo.htmlsi=ksFkSvnPSp7EGyY4
3. ua-cam.com/video/MgoHQdBEae8/v-deo.htmlsi=ntKDPTXDZaWa5a9j
Hope this helps. Don't hesitate to reach out if you have more questions!
Thanks alot for that
Would it be allowed to do this sort of work within something like Python, as long as the output file at the end is Excel? That way the process could be automated and save a lot of time and money. Just wondering as a data analyst that recently became interested in becoming an actuary. I pretty much avoid doing anything directly in Excel (except for really small/quick tasks) and instead do it in Python with an Excel file output at the end in order to have everything I do be 100% reproducible (minimizing human error) and of course to save time/effort redoing the same tasks manually in Excel.
Also just want to add -- really appreciate the work you do, your videos have been very helpful as I've been researching the career and I've seen you answer questions in the r/actuary newbie thread, very cool!
Thank you so much for your kind words! I'm really glad the videos have been helpful in your research.
To answer your question, yes, it’s generally allowed to use Python for actuarial work, as long as the final output is in Excel or another required format. Automating processes with Python can save a lot of time and reduce manual errors, so you're thinking in the right direction. But still, Excel is heavily used in many actuarial roles, particularly for communication with non-technical teams. So, being able to work in both Python and Excel gives you a strong edge in the field.
@@EtchedActuarial awesome, thanks so much for the quick answer! Have a wonderful day
Pricing & Reserving - Income statement modelling
Capital - Balance sheet Modelling
Why are projected sales considered an expense? How does an insurance company meet the reserve requirements?
You know what, I made a mistake in including that. I'm really not sure what I was thinking there. Thanks for pointing it out. The insurance company will get the money from premiums that it receives from policy holders and also money earned from investments that they've previously made
Don't you miss doing these kinds of tasks daily? I can't wait until I get to be paid to do such meaningful tasks.
I absolutely do! I love this stuff :)
While giving exam . Do you guys just study all day ? Never use phone for fun ? Give an honest answer . If yes how you guys study long hours and when you guys have fun’s like movies social media?? Please reply
Studying for actuarial exams can be intense, and it’s true that it often involves long hours of focused study. But, it's important to balance studying with breaks and fun. Many of us make time for social media, movies, and other activities to stay refreshed and motivated. It's all about finding a routine that works for you while making sure you’re still hitting your study goals.
Hello I am Anshuman Srivastav from india i love math and stat i am 39 year old and want to pursue this course
Am i to old for this couy
Sorry course
@@anshumansrivastava4372 Hi Anshuman! You’re never too old to pursue actuarial science, especially if you love math and stats. Many people start their actuarial careers later in life, and your experience can be a huge asset. The important thing is to focus on passing the exams and building your skills. Actuarial science is about problem-solving, and your passion for it is what truly matters. Keep going!