Career scope for an Actuary

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Actuaries work behind the scenes, but are in high demand in almost all businesses and industries that crunch numbers, evaluate or forecast risks.

While actuaries continue to be the backbone of the insurance and pension industries; the role and scope of an actuary has undergone a phenomenal change in recent times. Today, the corporate sector is increasingly involving actuaries in mergers, acquisitions, investments, project management, business deals and employee benefit schemes, to name a few. In fact, the actuarial role has assumed different avatars in almost every domain where “finance, investment, statistics or scientific forecasting” is engaged.

So actuaries are in high demand for the value they bring to an organisation – chiefly cost cutting, risk reduction, catastrophe or loss evaluation and forecasting cost and risk implications.

Scope in Various Sectors

PRIMARY SECTORS (traditional employment)

OTHER SECTORS (non-traditional employment)

Life Insurance

Hospitals / Healthcare sector

Health Insurance

Legal / Underwriting firms

General Insurance

Pension Fund Departments

Employee Retirement Schemes

Education Sector

Vehicle Insurances


Investment and Financial Services

Rating Agencies

Property Insurance

Investment firms

Casualty Insurance

Risk Management

State Insurance Departments/ Govt. Offices


Insurance Brokers

Actuarial KPO (Swiss Re, Deloitte, and 8 more)


Software developers / vendors


Risk Management/ Actuarial Service Departments of Companies


Accounting Firms (offering actuarial services) 

 Job Roles for an Actuary (not limited to those mentioned below)


Actuarial Analyst

Actuary Director

Asset Liability Manager

BPO administrator

Business Analyst

Claims Analysis Manager

Data Analyst

Economic Analyst

Finance consultants

Financial/Insurance Consultants in IT sector

Healthcare Analysts

Insurance Consultant

Insurance/ Composite Agents

Insurance Risk Manager

Insurance Surveyors

Insurance Underwriter

Investment Professionals

Investment Analyst

Product Development Actuary

Pricing Actuary

Pension Administrator

Pensions Analyst

Pricing Analyst


 Career Scope in Government Insurance Companies / Departments

New India Assurance Company

Agriculture Insurance Company of India Ltd

Oriental Insurance Company Limited

Employee’s State Insurance Corporation

United India Insurance Company

Export Credit Guarantee Corporation of India Ltd

National Insurance Company Limited


Life Insurance Corporation of India



Career Scope in Private Companies

Apollo Munich Health Insurance

Religare Health Insurance

Birla Sun Life Insurance Co. Ltd.

Max New York Life Insurance

SBI Life Insurance Co. Ltd.

Royal Sundaram Alliance Insurance India

Tata AIG Insurance Co. Ltd

Reliance General Insurance

ICICI Lombard General Insurance

HDFC Ergo General Insurance

ING Vysya Life Insurance

Bajaj Allianz Life Insurance Co.

Apollo Munich

Max Bupa Health Insurance

Metlife India Insurance Co. Ltd.

Prudential Financial

PriceWaterHouse Coopers

Cholamandalam MS General Insurance

Aviva Life Insurance

Peerless Smart Financial Solutions


Career Scope Abroad

The scope for actuaries seeking job opportunities outside India is very high, as the necessary infrastructure already exists across various sectors. While high salary packages and good positions are available for experienced actuaries, freshly qualified actuaries too have great scope abroad. Countries like U.S., U.K., Malaysia and Sri Lanka offer challenging roles for a qualified actuary.

Scope of Independent Consultancy

With time and experience, an actuary also has the option to set up his own consultancy firm to advice in matters of gratuity, retirement benefit schemes and investments.

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