Actuary Consulting vs Insurance Jobs
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- čas přidán 9. 09. 2017
- The two main areas that actuaries work in are Insurance Companies and consulting companies.
In today's video, I discuss the reasons why I chose to work as an Actuary in an Insurance company, rather that work for a consulting company.
Of course, these are just my opinions. Always do what's right for you!
If you have any questions, let me know!
Thank you for calling!
Off topic... but your hair is GORGEOUS
+Mia du Preez I had it dyed the day before I filmed this video 😀😀
I'm a subscriber from Australia and I'm studying to be an actuary. This actually helped me much more than you may think. I now want to be at an insurance company too because of your explanation. I'm also introverted when it comes to working. Thanks so much! Looking forward to more videos
Hello from Canada!
Your videos are extremely helpful. They help open up to different possibilities and paths to take both when you're doing your exams and when you come into the field. Thank you for sharing your knowledge and experiences with us. I am surprised, yet elated at the amount of support available online.
+Modern Buddha glad you enjoyed them!
You know so many things, me-on-a-different-channel!
+Ellellevlog wow thanks! I sure do!
😂😂 I see what you did there🤣🤣👌👌
watching all your videos since yesterday! New subscriber😊
Hello, are you planning to study actuarial science ?
I have been really interested in the actuarial career path for several months now, thank you for your videos offering your insight!
My pleasure!
OMG. CZcams recommended me to you. Subbed right away. I am also an introvert like you working in pensions in an actuarial risk role and I too would not want to be going out to clients. I have always seen consulting as more sales involved the higher you get which is a no for me.
Happy to have you here 😀
I've been recruiting actuaries since 2010 in Europe, I totally agree with what you say, insurance actuaries are more introverted people while a consulting role it's more you and the client, therefore when I speak to them and notice that they have good communication skills I tend to direct them towards a consulting job; great video
Thanks Rick!
I am huge fan of you. Great presentation 👌
Thank you 😀😀
I wish I had found your channel sooner and then I could have recommended your videos to an aspiring actuary. She is still a high school student and our team shadowed her around our work routines a while ago. I feel that you can give her more structural advice in terms of study and working experience during the first few years of career. Since I work as a regulator actuary in the US and my job is to provide analysis and consulting services to legislature, my experience is very different from corporate actuaries. Besides, It's been years since I took my exams and I was told that SOA and CAS constantly changed exam curricula. I could only offered very limited help to that young girl when she talked to me. Your actuarial videos are very informative for actuarial students or aspiring actuaries. Good jobs!
You're so kind, thank you for this message ❤
Hello,
I am a student from Germany and want to get an actuarial entry-level job in the US or Canada(I already passed 2 exams and have the VEEs). How is the best way to get a job there?
Subscribed!
I think I would like to be a consulting actuary, I just don't like sitting at a computer all day, 5 days a weeks, how many hours a day, it's not the position for me. Consulting sounds more like me. I love to work with people face-to-face(Client A) then moving onto Client B. I love the work stress. Great video btw!
Thanks!
I just saw some of your videos. Very funny!
Thank you 👍
Regards from an argentinean Actuary in Hong Kong!
What kind of jobs could be done with actuarial science other than actuary? For example, do banks look at actuarial science degrees for other kind of jobs related to finance (for example quants, risk managers) or quantitative finance is preferred for that? Has a quantitative finance degree a broader perspective maybe? What's your opinion?
Random question, but can a Business Analyst become an Actuary Consultant, and if so, do you have to start at an entry level, even if you have 2 years of experience as a Business Analyst?. Thanks.
are there less positions for actuarial?
most of them are in the east coast of north america?
Great information ,can you please mention what study techniques you used during your actuarial exam ?for example while you studied did you studied formulas first ...etc ,what type manuals and software you used for the exams .Thank you very much I really appreciate your hep ..by the way I am taking the first P1 exams January :D
It's on my video ideas list! Good for P!
Good video. See some of my views below:
1. Average pay per "working" hour could be similar between consulting firms and corporate
2. People may gain more exposures in different areas in consulting firms by working on different projects
3. People may complain that they get allocated to a boring project for so long, such as data cleansing for a client in consulting firm
4. HR wise, it is more flat in consulting world, less hierarchy, more project & client focus; where in corporate, you could have leaders, managers, executive managers, executive general managers, etc.
5. Internal stakeholder engagement within corporate environment could seem like a working partnership, internal stakeholders are not real clients, they can be easier or more difficult to work with.
6. You might be trained more formally and have more solid actuarial "skills" in consulting firms than corporate as an entry level analyst, such as presentation skills, coding skills. etc.
7. You could have more opportunity to participate closely in decision making process in corporate while gaining business knowledge and subject matter expertise
8. In actuarial consulting firms, you work with actuaries, you all speak the same language; in corporate, depends on the nature of the job, you might work with people with other backgrounds, it is more diversified, could gain better learning and culture?
9. Regardless corporate or consulting firms, as you get promoted, you do get away from computer more and having more stakeholder engagement and people & project management.
10. There are a lot more internal politics and restructures in corporate than consulting firms
Interesting perspective! Thank you for sharing 😁 what's your background?
EllelleActuary I am an Actuary in Melbourne. :)
What an excellent response, Ming
If your goal is to be an Actuary Consultant, do you need to take 4-5 Actuarial exams like an Insurance Actuary?
I am impressed by your FCAS@25.I have some questions:
1.If I like modeling should i go to P&C or Life/health?
2. How do you actually manage your study time?
thx
I have 2 questions for you
1. At what place & for which company you work for?
2. Do you really go to bed at 10 PM ? If so, How do you do that? How are you so disciplined?
Hope you answer both questions
I work for a large p&c insurer in toronto.
It's easy to go to bed early when you get tired early... and I get tired around 8pm 😂😂
Thanks for watching 😀
EllelleActuary
Wow, I never expected such a quick reply
You are so awesome 👍
Though I'm not doing actuarial science, my younger brother is doing it and i make him watch your videos to learn.
& Have a great 2018!
Cheers!
You caught me at a good moment. My boyfriend was buying something at the Samsung store and I was sitting around bored 😂😂
Hope you keep replying to questions, because its really difficult to find fully qualified actuaries. Also guidance is very important so as to avoid pitfalls.
Thanks again👍🙏
On a personal level, & you can total abstain this question
Is your boyfriend also from the same professional background?😁
+Arjun Kashyap yeah he's an actuary as well
It seems that the insurance path is the right one for me. Thanks for clearing up the differences between the two.
Random question: You said that you sleep at 22:00; when do you wake up? I'm trying to get into a new sleeping schedule to be more productive during the day, so I thought about sleeping from 22:00 to 04:00. It is quite difficult to get into this new schedule
but I've managed two days in a row so far...
Anyway, when do you get up and how much sleep do you think I should get? Is 6 hours enough?
Are you using caffeine? I ask because moving your sleep schedule around is a lot easier without caffeine.
I don't use caffeine after 17:00.
Im a huge fan! But I'm a bit unsure about actuarial science. What would you say is the average amount of hours that an actuarial student studies per day? Lots of love from South Africa
Depends how close you are to your exam 😉
Sayug Moodley it's more on the heavy side compared to other courses. It's hard to put a number on it though. I'm in my first year and I study about 25 hours per week
Hai I have question about the tasks as actuarial analyst in insurance company? I got interview for next week, I knew a lil bit about this department because I worked as sales/marketing in insurance company for 7 years but I never had direct contact with them, only with department underwriting who processing my case applications mostly.
Sure what's your question?
But if you are in consulting would it be much easier to build your own actuarial firm in the future?
+Sboykhan Han probably
Consulting for sure. I like computers...but not that much lol
Fair enough!
Love ur video! Hi im wondering do you know how likely to land on a job after passing the first two exams? I graduated with a statistic degree in canada. Never thought actuarial science would be my thing when i was in school... thanks.
+Rein I don't have stats regarding entry level actuarial hiring, sorry
EllelleActuary thats okay , thanks! Does this mean it would be harder for stats people find actuary job or that just what happen to be in ur company?? I thought there would be people came from different backgrounds than actuarial sci as long as they passed couple exams... thanks!!
+Rein at my company we usually hire from people who have done internships with us
EllelleActuary ohh okay thanks! Its good to know.
Hi,
I am confused now . I am working with insurance agencies in Naperville IL as personal line insurance expert as outsource (Remote access job) I have been working with them almost 7 years 8 hours in day. I do tatal working on desktop like getting quotes for prospect, issuing policies,endorsemet, billing etc etc . Honestly I am fedup now..
Are you considering switching careers?
No, But I am kind of fedup with same work. But the problem is this is remote access job cant change my field because i am not in USA. I think personaly i like sales and marketing out door work.
Hi,
I am a reserving actuary with experience in both consulting in ey india and a joint venture of Insurance Australia Group here in Mumbai India. Can you please guide me how I can get a job in canada. How should I work through it.
Have a great day ahead :)
Regards,
Abhijeet
+Abhijeet Singh have you tried contacting a recruiter?
Consulting is not that bad. Sure there are a few days your working late into the night but most of the time you are doing a 9 to 5 job.
Do you work in consulting?
Yes, pension consulting.
Glad you enjoy It!
Consultants is for the pros
mad mula ahahahahahah
Quite possibly one of the most beautiful woman on you tube....
Great information. You're beautiful.
Aw thank you 😀