One of the most popular career paths among those considering a career in insurance is becoming an actuary.
Actuaries use mathematical techniques to study past events and then try to anticipate future trends and events.They undertake extensive study and training to acquire in-depth knowledge of statistics, probability and problem-solving. As well as earning a relevant third level degree, actuaries must undertake further studies with a professional body like the Society of Actuaries in Ireland.
Insurance covers a large number of people against risks. As an actuary you’ll analyse the likelihood of these risks happening by studying past events and applying probability theories to predict future outcomes. Armed with such data, you’ll be able to calculate premiums and advise on whether a company has sufficient assets to meet its future liabilities.
Your work is vital to the success of the insurance company as you must ensure that your company is solvent, competitive and more innovative than other players in the market.