Being an actuary
My ideal job is being an actuary. An actuary deals with business of insurance and is responsible for different areas under the broad category of insurance. He deals with analyzing of key data which include sickness, mortality and disability rates and utilizes these information in aiding those involved in the insurance. Its major role is collection of data for forecasting of future risks and see how these predictions could impact the different aspects of the insurance. Other general roles and responsibilities entail reviewing of statistical information that relates to rates which deals with mortality, accidents and retirements. They then use the information gathered from reviewed statistical data and relays information to people that need such issues to successfully venture in insurance related interests. Hence, actuary’s role is compiling of data collected in a manner that assists firms in dealing with payments and coverage. Another additional certain duty of an actuary is determination of company’s policy and explaining of policies to the beneficiaries.
Other skills and knowledge that one needs to have to be an actuary is having wonderful mathematics skills since one spends most time dealing with statistical equations and data. Having good analytical skills helps in analyzing of different documents as well as possessing public skills since one has to report the analyzed data to firm’s officials (O’Brien et al., 2016). Further, being creative is an additional advantages to be an actuary since them helps in drafting of firm’s policy and making changes to the policy. Having wonderful research skills is key since data collection required intense research and one must have good working computer skills and comprehension skills. Additionally, actuaries work for insurance firms and most of the time they work in an office setting even though an actuary can function as a consultant who travels to meet clients.
References
O’Brien, C. D., Gallagher, G. A., Green, R. J., Hughes, D. W., Liang, F., Robinson, S. A., … & Tay, A. J. W. H. (2016). The roles of actuaries in UK life offices: changes and challenges. British Actuarial Journal, 21(1), 134-164.