Actuary Day in the Life - Valuation Actuary, Group Insurance

[@SomyaRD]

I watched this video cuz I want to know what's the actuarial valuation and it's a concept which is in my insurance chapter. so I found your video which is very useful for me. Thank a lots.

[@EtchedActuarial]

Glad it helped you!

[@joseangelgardunosanchez2684]

Hi!, your videos have been of great help to me. Unfortunately in Mexico there is not much information unlike those English-speaking countries. Thank you very much for sharing your life and what it is like to be an actuary.

[@EtchedActuarial]

You're welcome Jose!

[@louiegoh7628]

Hi Brea, I passed my exam P in my first attempt through your study program. I cannot get into an actuarial related position after graduate from uni and I was working on a casino when I take exam P. After passed exam P, I was able to get into a pricing position on group insurance! I have been working in the same position for 2 years now. It is surprise that you are in group insurance field as well. BTW, I am from Malaysia.

[@EtchedActuarial]

Congrats Louie! So happy to hear that you're able to find a position you enjoy after passing Exam P!

[@sunnyahuja8362]

Can you suggest from where i can work on some valuation or pricing projects online?

[@jmyu213]

Hi there! I’m a new hire valuation actuarial assistant here, your videos are a huge help to me, but I still have no idea how GGY AXIS works. What is the best way to learn the software? Thank you!

[@EtchedActuarial]

I completely understand your pain! It's difficult to learn. Honestly for me, it was the most helpful just learning things as you need them. I'd ask other members of my team how to do certain things and explain why they tell me to do each step. That helped me learn the software fairly quickly. GGY does have documentation available through their website (login required) but I didn't find it overly helpful. They also offer training sessions in person, but you'd have to get your company on board with that so they'll pay for it!

[@sarak.7779]

If it’s not personal can you make a video about why you quit your job if there are some reasons that insight us

[@EtchedActuarial]

Hey Sara - I don't think I'll make a video about it anytime soon, but the reason I quit was because I wanted to dedicate 100% of my time to the Study Strategy Program and helping Exam P and FM candidates pass their exams! :) I really loved actuarial work though!

[@MM-ll2mz]

How does an Actuary approach group insurance knowing you do not have control over the candidates like you would do with an individual insurance policy. Like what kind of tweaks you would do in a group insurance so your company has a bit more control on the outcome of group insurance.

[@EtchedActuarial]

Very insightful question! We would use higher margins for error and may put caps on claim amounts to limit claims. We are also able to use past group data so although we don't have as much control over the candidates, we generally have a good sense of what group insurance members look like overall.

[@carissaselmyhr9800]

Hi Brea, what made you leave being an actuary? I sell health insurance now, I thought about leaving to do this so maybe I could have a set salary around 100k verses 70k if possible.

[@EtchedActuarial]

Hi Carissa! Honestly, I LOVED my actuarial job, but I saw how difficult it was to get a job in the actuarial field. It felt like there was almost no support for future actuaries, and I wanted to do something about that! On the other hand, making a career change is a big deal, and the salary often isn't set in stone. It's important to decide what works best for you!

[@dominic2446]

17:44 what is CALM reserving method? is it canadian asset liability method (CALM)?

[@EtchedActuarial]

Yes it is! :)

[@anilmanhas5797]

Hi, I am currently pursuing my post graduation in business management with 4 years of banking experience. I have been searching for actuarial science and how to start preparing for this. I like to start with your guidance. Before proceeding, i would like to talk to you about it in detail

[@EtchedActuarial]

You can contact me for further details on my programs: etchedactuarial.com/contact-us/

[@Roftiisadorable]

Hey Brea! This is Eden, the *almost actuary*. I would like to touch base as a junior "Valuations Actuary". If you could send me a message, I'd appreciate it. (same same but SAM and IFRS17) :)

[@iaminlovewithbooks6463]

Hiii dear .I am Renu from India .I want to do actuarial science .I have enrolled for acet exam.Iam graduate from Delhi University .I had not math subject in my high school days .can I do this ??? everyone says it will be difficult for you ,,you can't do this .what's your opinion

[@EtchedActuarial]

Of course you can do it! It's all about how much time and dedication you're willing to put into it. It will most likely take you longer to prepare for than most others since you don't already have the background that they would. Try one exam and see how it is :)

[@iaminlovewithbooks6463]

@@EtchedActuarial thanks dear for replying me ,,,can you plz suggest which math topic I should do specifically for actuarial science which will be helpful in my CT exams 😊

[@dominic2446]

@@iaminlovewithbooks6463 probability and financial math

[@bernardomondragonbrozon5182]

You are so beautiful!