Actuaries are professionals who calculate insurance risks and payments by studying how frequently accidents, fires, death occurs etc. They make financial sense of the future by analysing the past, predicting the future, calculating the risks involved and communicating what the results mean in financial terms. They bring upto date analysis as required.
Scope of Actuarial Science
Main function area of actuary is insurance sector but now they are also working in health sector, risk management, with reinsurance company, security and commodity broker firms and banks. Their services are also needed in employees welfare departments of the large corporate houses, in investment banks & commercial banks to manage their financial risks. Mishaps, uncertainty, accidents also create a need of Actuarial Science.
Eligibility for Actuarial Science
Any person with minimum eighteen years of age and a high degree of interest for mathematics and statistics should opt for this course and become an Actuary. Generally, 1st class graduates or postgraduates in Mathematics, Econometrics or Statistics should be in a better position to pass as actuaries.
Institute of Actuaries of India (IAI)
302, Indian Globe Chambers
142, Fort Street, Mumbai 400001