Actuarial Career Paths

1
Actuarial Career Paths

• Life Health
• Property Casualty
• Consulting

2
Choosing

• You have some time to choose what kind of
  actuarial path you would like to pursue, but it
  is also good to think about what suits you best
  and know a little about each path before you go
  into an interview. The following slides should
  help you.

3
Life Health

• Work for Insurance Companies
• Insuring people not products (making policies so
  that people can protect their families with life
  insurance or covering health costs)
• An example of a product might be a life insurance
  plan (term life, whole life)
• Typically 8-5 job
• Title ASA and FSA

4
Property Casualty

• Work for Insurance Companies
• Work with things not people (auto insurance and
  home owners insurance)
• Deciding how the company should use its assets to
  pay off accidents or pay off destruction caused
  by natural disasters
• Typically 8-5 job
• Title ACAS and FCAS

5
Consulting

• Very different from the other two
• Work with pensions, benefits, and investments.
  Instead of working with companies that directly
  work with people, you work for a company that
  provides consulting services to other companies
  and clients
• Can choose what path you like SOA/CAS
• Not as exam based but very busy and the the
  typical work week is not restricted to 40 hours

6
Actuarial Titles

• ACTUARIAL STUDENT

• ASSOCIATES FELLOWS

• Has taken at least 1 actuarial examination
• Typically are given time and materials to study
  for exams
• Exams to pass as a student
• FM Financial Mathematics
• P Probability
• MLC Life Contingencies
• MFE Financial Economics
• C Loss Models

• Associate (ASA/ACAS)
• Professional title similar to a masters degree
• Continue studying for other exams and projects
• Fellow (FSA/FCAS)
• Many refer to this as the actuarial PhD
• Finally done with the exam process and go on to
  running projects and teams of associates and
  students

7
Purdue Actuarial Company

• A Future For You With Us

8
Briefing

• The following slides will cover some broad
  information that we hope you take seriously and
  use to ask questions during the mock-interviews.
  Treat us like a real company so that we can treat
  you like a real candidate. Hopefully through this
  you can can make the most out of these
  mock-interviews. Also, some of the ideas of the
  company may be farfetched but as I said, use this
  to your advantage

9
Overview

• Our mission is to serve any company in making new
  and innovative products for the insurance
  industry. Also, we would like to help these
  companies realize the true potential of the
  assets they hold
• We have offices in Chicago, New York, Atlanta,
  Hartford, Indianapolis, and Milwaukee
• Have 9 FSAs, 30 ASAs, and 25 Students

10
Expertise

• EMPLOYEE BENEFITS We excel at delivering
  attractive benefit programs balanced by our
  clients' needs and business philosophies.
  Unbiased and impartial, our only interest is the
  best solution tailored to our clients goals
• HEALTHCARE P.A.C. healthcare consultants are
  unique. We think beyond the numbers to correlate
  both the financial and clinical implications of
  complex problems. Our creative ideas provide
  solutions you can use today
• INVESTMENT P.A.C.s investment consulting
  expertise covers the full spectrum of
  institutional investors, their best investment
  targets, as well as the regulations that affect
  them.

• LIFE FINANCIAL Our expertise draws on the
  comprehensive experience of savvy, creative
  consultants who are experts in every facet of the
  insurance industryboth domestically and
  internationally
• PROPERTY CASUALTY In an environment of
  fluctuation and consolidation, P.A.C. offers a
  deep understanding of the technical and business
  aspects of the industry. Our customized solutions
  help you capitalize on your best opportunities

11
Internship

• 10-12 week program
• Paired with an FSA mentor
• Work on real life projects that would be done by
  full time employees if you were not there
• Social Events with interns and actuaries
• Location depends on expertise given
• Stipend for living expenses

12
Valuing Our Students

• Study hours given to full time students
• Depending on exam and sitting
• Pass Rates above average
• Paid materials and seminars
• Study Facility with your own reserved study desk

13
What Next

• Make sure to use the interview scheduler to sign
  up for a mock-interview
• Remember to attend your interview in professional
  dress (if you do not have a suit yet, wear khakis
  and a nice shirt)
• Practice practice practice