Search found 22 matches

by JeffreyMiller
12 Oct 2017, 22:39
Forum: Ask the Actuary
Topic: Regarding Employment
Replies: 2
Views: 870

Re: Regarding Employment

I don't believe AI means a dead end to actuarial employment.  It means that creative actuarial work will be more possible and non-creative actuarial work will be needed less.  The question may be how do we pay people?  Maybe actuaries working with AI will be like recording stars making music.  We mi...
by JeffreyMiller
12 Oct 2017, 21:56
Forum: Ask the Actuary
Topic: Create something out of Actuary
Replies: 1
Views: 404

Re: Create something out of Actuary

That certainly depends on the person.  Being a young actuary is very hard.  People often don't listen to you.  Being an old actuary is much easier. As a young actuary you want to be energetic and creative, but open to coaching.  You need to understand that you can be wrong quite often.  That's OK.  ...
by JeffreyMiller
12 Oct 2017, 21:51
Forum: Ask the Actuary
Topic: employment @ age n experience
Replies: 1
Views: 459

Re: employment @ age n experience

I can speak about employers in the USA, and maybe that will be helpful. The difference between a potential actuary and someone who would like to be an actuary is the exams that they pass.  As employers, we understand what it means to pass an actuarial exam.  We might not understand other qualificati...
by JeffreyMiller
12 Oct 2017, 21:44
Forum: Ask the Actuary
Topic: General Thoughts
Replies: 1
Views: 858

General Thoughts

This has been fun.  I hope my answers have helped in some way. The actuarial profession has been very good to me and my family.  I have no plans to retire, even though I'm now in my 60's.  I enjoy the work I do and the people I work with. I hope all of you have great careers.  Please remember that t...
by JeffreyMiller
12 Oct 2017, 21:31
Forum: Ask the Actuary
Topic: General Insurance as a career
Replies: 2
Views: 498

Re: General Insurance as a career

I would only be guessing, but I'll give it a shot.  General insurance appears to make greater use of statistics than life or health insurance.  Also, the legal structure of products is much more complicated, so a good understanding of the law as it affects the products is probably needed.  Finally, ...
by JeffreyMiller
12 Oct 2017, 21:27
Forum: Ask the Actuary
Topic: salary
Replies: 2
Views: 501

Re: salary

I have always found that the harder you work, the luckier you get.  I have also found that large organizations tend to be slower in increasing salaries, but offer very attractive compensation packages to senior people.  For example, one of my classmates went to work for a large company and I went in...
by JeffreyMiller
12 Oct 2017, 21:23
Forum: Ask the Actuary
Topic: Insutech
Replies: 2
Views: 464

Re: Insutech

Students are well positioned to lead the insurance industry into more effective use of technology.  However, you must be patient.  The industry still has many old people, like me, who don't completely understand all of the opportunities created by technology.  We old people can also be apprehensive ...
by JeffreyMiller
12 Oct 2017, 21:21
Forum: Ask the Actuary
Topic: Marketing and Actuary
Replies: 2
Views: 420

Re: Marketing and Actuary

Yes.  This is a topic that I have addressed extensively in my career.  I recently posted a note on Linked In to discuss it.  The key is organizing and documenting all parts of the marketing process, not just product development.
by JeffreyMiller
12 Oct 2017, 21:18
Forum: Ask the Actuary
Topic: Reinsurance Income
Replies: 1
Views: 343

Re: Reinsurance Income

Reinsurance companies have been very attractive capital investments.  Warren Buffet controls General RE and uses it to manage a large portion of his investments.  Investors can use reinsurance companies as contrarian investments.  I am working with a relatively new company in Bermuda called Axis Re....
by JeffreyMiller
12 Oct 2017, 21:09
Forum: Ask the Actuary
Topic: Skills.
Replies: 1
Views: 353

Re: Skills.

The most basic skill involve Excel and database manipulation.  Those are a given.  After that, communication is critical.  In my first job as an actuarial student I wrote and re-wrote a client letter 15 times before my boss found it acceptable to send to the client.  It was very frustrating, but at ...

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