{"id":3301,"date":"2013-02-13T05:54:36","date_gmt":"2013-02-13T12:54:36","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=3301"},"modified":"2024-11-13T16:48:53","modified_gmt":"2024-11-13T11:18:53","slug":"risk-agents","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/risk-agents\/","title":{"rendered":"Risk Agents"},"content":{"rendered":"

The lowdown :
\n<\/strong>An actuary is an expert who applies statistical and mathematical methods to assess financial and other risks relating to various contingent events such as mortality, sickness, injury, retirement and property loss from theft, accident, fire or any other hazard. An\u00a0actuary uses data analysis for valuation of financial products in the field of insurance, retirement and other employee benefits, investments, etc. Since contingent events by their very nature are hard to accurately predict, an actuary is also entrusted with the responsibility to ensure security of policyholders. S\/he does that by ensuring the company is maintaining adequate financial resources so as to withstand higher than expected claims. The actuary designs insurance and pension plans, determines insurance premium rates and contract provisions for each type of policy offered. S\/he also creates new and attractive policies for organisation\u2019s growth.<\/span><\/p>\n

Clockwork :
\n<\/strong>9.30am: Reach office
\n11am: Assign work to the team
\n11.30am: Analyse risks
\n3pm: Meet clients
\n4.30pm: Review meeting with junior colleagues
\n5pm: Write reports
\n6.30pm: Call it a day<\/p>\n

The payoff
\n<\/strong>At entry level one\u2019s income could be\u00a0Rs.\u00a03 lakh to\u00a0Rs.\u00a05 lakh per annum. After gaining experience of five to six years and clearing a good number of the possible 15 papers, an actuary can earn\u00a0Rs.\u00a010 lakh to\u00a0Rs.\u00a015 lakh per annum. Immediately after becoming a fellow of Institute of Actuaries of India (IAI) one can earn anything from\u00a0Rs.\u00a020 lakh to\u00a0Rs.\u00a030 lakh per annum.<\/p>\n

Skills\/Traits :
\n<\/strong>*\u00a0In-depth knowledge of statistics
\n*\u00a0A good head for mathematics<\/p>\n

Getting there<\/strong>
\nBegins by joining the Insitute of Actuaries of India as a student member for which one needs to clear an actuarial common entrance test. This exam is conducted twice a year. Visit\u00a0http:\/\/www.actuariesindia.org\/acet.html<\/a> for more details. The candidate must have passed class 12 exam or an equivalent exam with English as one of the subjects at class 12 level. After becoming a student member one needs to take upto 15 actuarial exams. Also, one should be a member of a professional body like the Institute of Chartered Accountants of India<\/p>\n

Institutes and URLs<\/strong>
\n*\u00a0Bishop Heber College, Tiruchirappalli
\nwww.bhc.ac.in\/<\/a>
\n*\u00a0CMD School of Insurance & Actuarial Sciences, Uttar Pradesh
\nwww.dget.nic.in\/<\/a>
\n*\u00a0Insurance Institute of India, Mumbai
\nwww.insuranceinstituteofindia.com<\/a>
\n*\u00a0RNIS College of Insurance, New Delhi
\nwww.rniscollege.com<\/a><\/p>\n

Pros and cons<\/strong>
\n*\u00a0Requires dedicated self-study
\n*\u00a0The course is very specialised<\/p>\n","protected":false},"excerpt":{"rendered":"

The lowdown : An actuary is an expert who applies statistical and mathematical methods to assess financial and other risks relating to various contingent events such as mortality, sickness, injury, retirement and property loss from theft, accident, fire or any other hazard. An\u00a0actuary uses data analysis for valuation of financial products in the field of insurance, retirement and other employee benefits, investments, etc. Since contingent events by their very nature are hard to accurately predict, an actuary is also entrusted with the responsibility to ensure security of policyholders. S\/he does that by ensuring the company is maintaining adequate financial resources so as to withstand higher than expected claims. The actuary designs insurance and pension plans, determines insurance premium rates and contract provisions for each type of policy offered. S\/he also creates new and attractive policies for organisation\u2019s growth. Clockwork : 9.30am: Reach office 11am: Assign work to the team 11.30am: Analyse risks 3pm: Meet clients 4.30pm: Review meeting with junior colleagues 5pm: Write reports 6.30pm: Call it a day The payoff At entry level one\u2019s income could be\u00a0Rs.\u00a03 lakh to\u00a0Rs.\u00a05 lakh per annum. After gaining experience of five to six years and clearing a good number of the possible 15 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3301","post","type-post","status-publish","format-standard","hentry","category-data-analytics"],"yoast_head":"\nRisk Agents: Actuary Career Overview<\/title>\n<meta name=\"description\" content=\"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ivyproschool.com\/blog\/risk-agents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Risk Agents: Actuary Career Overview\" \/>\n<meta property=\"og:description\" content=\"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ivyproschool.com\/blog\/risk-agents\/\" \/>\n<meta property=\"og:site_name\" content=\"R vs Python: Which Analytics Tool Should You Choose for Data Science?\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-13T12:54:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-13T11:18:53+00:00\" \/>\n<meta name=\"author\" content=\"Ivy Professional School\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ivy Professional School\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/\"},\"author\":{\"name\":\"Ivy Professional School\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/18bb3ceec4a62c79d7f3c5eac6d8c61b\"},\"headline\":\"Risk Agents\",\"datePublished\":\"2013-02-13T12:54:36+00:00\",\"dateModified\":\"2024-11-13T11:18:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/\"},\"wordCount\":399,\"commentCount\":0,\"articleSection\":[\"Data Analytics\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/\",\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/\",\"name\":\"Risk Agents: Actuary Career Overview\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#website\"},\"datePublished\":\"2013-02-13T12:54:36+00:00\",\"dateModified\":\"2024-11-13T11:18:53+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/18bb3ceec4a62c79d7f3c5eac6d8c61b\"},\"description\":\"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/risk-agents\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Risk Agents\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/\",\"name\":\"Ivy Professional School | Official Blog\",\"description\":\"Confused between R and Python for your data science journey? Discover the key differences in data visualization, handling capabilities, speed, and ease of learning.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/#\\\/schema\\\/person\\\/18bb3ceec4a62c79d7f3c5eac6d8c61b\",\"name\":\"Ivy Professional School\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g\",\"caption\":\"Ivy Professional School\"},\"url\":\"https:\\\/\\\/ivyproschool.com\\\/blog\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Risk Agents: Actuary Career Overview","description":"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ivyproschool.com\/blog\/risk-agents\/","og_locale":"en_US","og_type":"article","og_title":"Risk Agents: Actuary Career Overview","og_description":"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.","og_url":"https:\/\/ivyproschool.com\/blog\/risk-agents\/","og_site_name":"R vs Python: Which Analytics Tool Should You Choose for Data Science?","article_published_time":"2013-02-13T12:54:36+00:00","article_modified_time":"2024-11-13T11:18:53+00:00","author":"Ivy Professional School","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ivy Professional School","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/#article","isPartOf":{"@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/"},"author":{"name":"Ivy Professional School","@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/18bb3ceec4a62c79d7f3c5eac6d8c61b"},"headline":"Risk Agents","datePublished":"2013-02-13T12:54:36+00:00","dateModified":"2024-11-13T11:18:53+00:00","mainEntityOfPage":{"@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/"},"wordCount":399,"commentCount":0,"articleSection":["Data Analytics"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ivyproschool.com\/blog\/risk-agents\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/","url":"https:\/\/ivyproschool.com\/blog\/risk-agents\/","name":"Risk Agents: Actuary Career Overview","isPartOf":{"@id":"https:\/\/ivyproschool.com\/blog\/#website"},"datePublished":"2013-02-13T12:54:36+00:00","dateModified":"2024-11-13T11:18:53+00:00","author":{"@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/18bb3ceec4a62c79d7f3c5eac6d8c61b"},"description":"Discover the role of actuaries in assessing financial risks, the career path, salary prospects, skills required, and how to get started in this specialized field.","breadcrumb":{"@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ivyproschool.com\/blog\/risk-agents\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ivyproschool.com\/blog\/risk-agents\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ivyproschool.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Risk Agents"}]},{"@type":"WebSite","@id":"https:\/\/ivyproschool.com\/blog\/#website","url":"https:\/\/ivyproschool.com\/blog\/","name":"Ivy Professional School | Official Blog","description":"Confused between R and Python for your data science journey? Discover the key differences in data visualization, handling capabilities, speed, and ease of learning.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ivyproschool.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ivyproschool.com\/blog\/#\/schema\/person\/18bb3ceec4a62c79d7f3c5eac6d8c61b","name":"Ivy Professional School","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/64e74add97d7e9a49f72c453853c4258652e999c5d49ec5d9eb2be2d861acfca?s=96&d=mm&r=g","caption":"Ivy Professional School"},"url":"https:\/\/ivyproschool.com\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/3301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/comments?post=3301"}],"version-history":[{"count":1,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/3301\/revisions"}],"predecessor-version":[{"id":12628,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/posts\/3301\/revisions\/12628"}],"wp:attachment":[{"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/media?parent=3301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/categories?post=3301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ivyproschool.com\/blog\/wp-json\/wp\/v2\/tags?post=3301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}