Actuary
Actuary is to use actuarial methods and technology to solve economic problems of professionals is to assess the risk of economic activities, future financial experts, is a set of mathematicians, statisticians, economists and investment in the insurance industry scientists in a high-level talent. In short, an actuary with the "future uncertainty" to deal with, the aim is to provide a basis for financial decision-making.
Actuary traditional fields of work for the commercial insurance industry, in this industry, actuaries mainly engaged in product development, the responsibility of the reserve accounts, Liyuan analysis and dynamic solvency testing and other important work to ensure that the regulatory decision-making organs of insurance supervision, insurance companies business decision based on the scientific basis. With the development and application of actuarial science, actuarial areas of work gradually extended to social insurance, investment, demographic analysis, economic forecasting and other fields.
Actuaries in the countries of the world is a kind of popular and attractive career, according to the U.S. occupation in 1999, rated 250 occupations on the assessment, the actuaries was named the best jobs. It is reported that in 2004 China's annual income of Actuaries tariffs on more than 100 are expected to increase in 2005 revenues of more than 10%%, while China is now the most expensive of Actuaries - Ping An Insurance Company of Steven Mile, it is estimated that He's worth at least 300 per year million yuan.
Actuaries have been called the "Gold-collar worker in the Golden Collar." [Edit this paragraph] the content of the specific work of actuaries
1, collection, collation, analysis, statistics, mathematical statistics methods using the design of the insured person's illness, injury, unemployment, retirement and property damage incidents, the probability of the table there;
2, based on the insured person's age, sex, occupation and other factors, calculating the insured should pay the premium rate;
3, estimates have been insured in the insurance amount received during the period;
4, evaluation of the insurance fund investment profits;
5, was prepared to pay insurance payments occur at any time.
[1] a huge gap in our actuaries
A late start due to China's insurance industry as well as other historical reasons, actuarial, particularly the long-term actuarial education in our country is in a blank, until 1987, Nankai University and the Actuarial Society of North America, the establishment of actuarial science cooperation projects, it will be the actuarial education system, introduction of China.
In developed countries, the actuaries of the insurance industry is the core business elite, but also in the financial investment, consulting and many other areas of key positions. While China's current situation are: scarcity of Actuaries. Up to now, China had "China's actuary" 50 people, quasi-actuaries 164, while experts predict that in the next few years, China's market of about 5,000 people need an actuary.
The scope of work of actuaries
In fact, the actuary's scope of work is very extensive, including:
① insurance product design: Through a survey on people's insurance needs, design a new insurance policy, while the insurance policy must be designed to take into account the different needs of people with reasonable pricing, management, feasibility and market competitive;
② premium rate calculation: According to the statistics of past life, the current bank interest rates and cost data to determine the price of insurance policies;
③ reserves and the calculation of the policy cash value;
④ the premium rate and the insured amount: According to the needs of society and time, adjust the premium rate and the level of protection in order to increase the attractiveness and competitiveness;
⑤ auditing the company's year-end financial reporting
⑥ the orientation of investment certainty: to assess the company's various investments in order to ensure the safety and benefits of investments;
⑦ involved in the company's development plan: economic decision-making for the company's future to provide effective data to support and professional advice.
The conditions to become an actuary
To become an actuary, first of all need to master some basic courses such as calculus, linear algebra, probability theory and mathematical statistics, insurance, science and risk management. Not only that, because actuaries are engaged in the economic field career, so they must have a high economic self-cultivation, master of accounting, finance, economics and computer science. In this way, actuaries can the changes in the economic environment have a stronger ability to respond. In addition, the actuary's job also required to master language, business writing, philosophy and other scientific knowledge in actuarial qualifications through a number of subjects necessary for a strict examination and get recognized actuarial organization. For example, in the United States and Canada, as a qualified actuary, to be obtained from the U.S. Disaster Insurance Actuarial Society (Casuality Actuarial Society), or the Actuarial Society of North America (Society of Actuaries) full membership. Actuarial Society of North America in the life insurance, health insurance and pension insurance field research, examination and acceptance of membership in international organizations, it is responsible for members from the informal to the formal membership to absorb a series of examinations.