P&C Actuarial job Q&A

哪一个line of business你觉得是最有发展的？pricing, reserving您更偏向于哪一个？如果有可能，能不能说说reinsurance, retro的事？谢谢

Hey there~ I'm a rising senior and I'm a math & econ double major. I'm preparing for exam p and FM (well, I know that might be a bit late) It would be really helpful if you can tell me how is  P&C  different from the rest, say pension. How can I get more information about the industry? My college does not offer acturial science and very few alumni work in this field. Thanks a lot~
1# bocm

GLM is hot but there are also many limitations. There are quite some softwares in the market, for example, Emblem (a software for GLM)

E&O and D&O is the hottest. Commercial Line
Usually, people prefer pricing to reserving
For reinsurance, you need reserving skills and also business skills. Keep in mind that reinsurance is not a short term game. As a result, market trend play an important role here.

Property and casualty is very different from the pension/life/health. For the rest, all relate to human (life contigency) somewhat.

When you build a model relates to life, it is easier - cause you usually know how much you pay (though not sure when) and people die only one time.

For property/casualty, you need to model both frequency and severity.

For the first 4 exams, there is no difference between CAS and SOA. And, all exams are multiple choice questions (you can guess even if you have no idea). I would comment the first 4 exams are basic knowledge on statistics/math/finance. They are relatively easy exams.

It would be nice to have a PHD. However, a Bachelor degree is good enough to get an actuarial job.

PHDs usually do a lot of research kind of work but actuaries don't. They focus on application.

19# pengju

Excel
ACCESS
SAS
EMBLEM
@RISK
Essbase
ReservePro
ReserveResQ

18# crymic

You are right. I have no idea about China market.

20# waitinghyhy

There are much more P&C job opportunities in North America than that of Life/Health/Pension but I am not sure about China market.

People usually say P&C is more interesting than Life but I have no clue why.

In order to get ASA, you need only 4 exams plus 2 moudles.

For ACAS you need first 7 (old structure) / first 6 + 2 moudles (new structure). I can tell that any one of the advanced exam (5 - 9) is much more difficult than the sum of the first 4 exams. (I passed exam 2 and 3 in one session but still have one advanced exam 7 left)

要怎樣才可以找到在美國精算師工作阿?   我本身也在P&Cfield作精算