What Do Actuaries Do At Insurance Companies?? Should actuaries work for insurance companies?

[@Actuaryelle]

Still confused about what actuaries actually do? Check this out: kzbin.info/www/bejne/mqSkgKWLnLyJhck

[@avishekbiswas4121]

Congrats! you explained actuarial work in P&C in such a compelling way that no one gave a dislike. There was something about watching your videos that made the decision easy for me to follow the path. I hope to cross paths with you again in the near future where the environment is less stressful. Btw it feels great to take that Monday off when you consistently work overtime after 5

[@Actuaryelle]

Thank you 😊

[@softballgirl64able]

2 videos in 1 week! Love the way you are using your time during self-isolation/social distancing!! Looking forward to learn more about reserving in the next video!!

[@Actuaryelle]

Gotta keep busy with indoor activities 😎 are you finding ways to stay entertained indoors?

[@softballgirl64able]

Actuary elle walks around the apartment complex, grad class, work! We are staying plenty busy 😁

[@Actuaryelle]

Good good! I've been doing yoga at home to try to counter all the couch time 😂

[@ezechielamoussou7409]

Thank you for this video ! It was so easy to understand. And very informative.

[@licht3457]

So happy that you are uploading again.

[@Actuaryelle]

Happy you're watching!

[@mahavirgupta1266]

I am also doing an Actuarial science from India. Your video helping me for.. because I don't have an Idea about or it's say that I have not More knowledge about what an actuaries do..or how they work.... Your all video is motivate me to do an Actuarial science....... Thank you so much for giving me excitement for doing an Actuarial science..... Thanks so much mam..🤗🤗🤗

[@Actuaryelle]

Good luck 😊

[@mahavirgupta1266]

@@Actuaryelle thank you mam🤗🤗

[@rishabprakash2541]

Wow! another videos so soon!! Thank you😁😁😁

[@Actuaryelle]

Hope you enjoy it 😊

[@ArnaudG92]

Thank you so much for sharing this, I am considering pursuing a career in actuarial science and this helps a lot framing the possibilities offered in this field !

[@Actuaryelle]

Glad you enjoyed 😊

[@Eyecandy112486]

These videos are awesome. Thanks for breaking it down for us!

[@abhaydutt5526]

Heyy huge fann elle you are my role model love you thanks for motivating always💕😍

[@Actuaryelle]

Thank you so much for your kind words!

[@wilsonkhong8396]

Love your content. Looking forward to more day as a life of actuary contents :D

[@Actuaryelle]

Thank you 😊

[@reformed5786]

Have you ever thought of making a video about whether or not can AI replace actuaries, or how AI and future technologies are going to impact the actuarial career in general?

[@Actuaryelle]

I wish I knew the answer to that question

[@spencerkessler9785]

In relation to this, do you ever fear being replaced by AI?

[@Actuaryelle]

Not in the near future

[@austindsamuel2723]

I am the first viewer! Hi from India.

[@Actuaryelle]

Hello from Canada! Thank you for watching!

[@cryptonomics9925]

Wow. I didnt know someone can make such a niche topic on actuarial science.

[@linsqopiring6816]

Hi. First video of yours I've seen and I have to say I love your energy and enthusiasm for what you do. Totally not the kind of person I expected from the image people have of those that work in insurance lol. I'm trying to get a handle on what actuaries do and one very basic question that I still don't know after reading a couple articles and watching your video is, who do you deal with as an actuary? You mentioned you determine "who" to charge more and who to charge less but is that down to an individual client or still in the categories? Would someone who is buying insurance talk to an actuary to have their risk level assessed? You see what I mean?

[@Actuaryelle]

I dont work in a customer facing role. I work on algorithms that would then be used to charge customers for insurance

[@linsqopiring6816]

@@Actuaryelle Got it. And I take it as far as you know that's the case with actuaries in general. Thanks.

[@hoangyung2456]

Would be nice if you could do a day in a life of an actuary

[@Actuaryelle]

Think that'll have to wait until the world goes back to normal

[@patriciaestherhernandezahj5624]

Thanks for sharing Elle! Very interesting video :)

[@Actuaryelle]

Thank you!

[@avishekbiswas4121]

As part of the pricing team, do you ever calculate the elasticity of demand from increasing the price of auto/home insurance at renewals per year? Do you know why certain companies including ours no longer offer 2 year policies and do you support that decision?

[@Actuaryelle]

Yes we consider elasticity and quote competitiveness 😊 I don't know why 2 year policies fell out of fashion, but I'm in favor. Makes my calculations simpler 🤷‍♀️

[@huonggianghoang3280]

Huge loveeee ♥️

[@Actuaryelle]

❤❤❤

[@ishangupta7731]

Can u tell what area in fiance actuary work Love your work Make me keep focusing on this path😉

[@ishangupta7731]

Finance*😂

[@MegaGenius1999]

Mj the actuary is a fellow in finance actuary. Refer his channel

[@KrishnaGupta-gj9yt]

I am interested in actuarial science but you can tell me that this is a tough course or not.Is this is very hard for a average students.

[@hikmattt]

Hi Michelle, great channel, i find it super informative. I have a general finance background and currently I am a credit risk professional looking to become an Actuary. I have decided to take SOA exams. How fast Do you think can I get a proper job in say a large insurance firm? Is it enough that I pass first 2 exams? (P & FM) or do you need more exams ? Thanks in advance

[@Actuaryelle]

That's really going to depend on a lot of things, like where you live. Good luck with your exams 😊

[@Ellellevlog]

Why become an actuary when I can be a couch potato? Asking for a friend

[@Actuaryelle]

Why not both?

[@techblob608]

replying to your own comment is cool

[@noobmaster-dm7tu]

could you please share about non insurance jobs for actuaries? finance? something else?

[@Actuaryelle]

I dont know much about that, so probably wont be making a video about that soon. Maybe one day!

[@krystylsummers8749]

I gave a brief record over the phone

[@orozcoanizarederisaac6430]

Hey ! I have a question I would like you to answer? Is it possible to write exam P and exam FM by the SOA, and then write the rest of them by CAS .

[@Actuaryelle]

Yes!

[@kalyandey5195]

Thanks a lot for sharing the valuable knowledge with us. I have few questions, if you can help me to get clarified with that, it will be a really great. 1. I am studying actuary from Institute of Actuary India. But, i am planing to move into Canada in next year. Is the actuary degree (from India) mutually recognized in Canada? Or, do i need to get membership and pass exam from IFOA (Actuary body in UK)? 2. I am currently working as a data scientist in Software company and having 8+ years of experience in programming & data analytics. Is this data science knowledge/skill set helpful to get job in actuary or in professional life of actuary? 3. I am 30 years old and have started studying actuary now. Is it already too late to get started in actuary career? I am really looking forward for a response. Thanks, Kalyan

[@Actuaryelle]

Hi! Thanks for reaching out! 1. I'm not an expert on mutual recognition, but my gut tells me that you would need to get IFOA exams, which can then be recognized by the Canadian Institute of Actuaries 2. Data science is incredibly important and a relevant skill for actuaries 3. Never too old Good luck!!

[@kalyandey5195]

@@Actuaryelle I have no words to say thanks to you. Really thanks a lot !!! This will give me huge boost in my confidence. Just last question - 1. With 4-5 Actuary papers cleared and having 8 years of programming & data science experience, will be good enough to get an entry level job in Actuary in Canada? 2. Is it a way, if i can move into Investment/Finance domain through actuarial experience?

[@Actuaryelle]

@@kalyandey5195 I would think that would make you employable, but we are in a weird world right now, so I dont know what the job market looks like at the moment. Yes you can move into investment as an actuary, or you could just try to get a job in investment directly

[@kalyandey5195]

@@Actuaryelle Thanks a lot. Anyway, i am not looking for job right now, neither i am applying PR in Canada right now. I am planning for applying PR in next year, hopefully, by that time situation will be settled down everywhere. Also, due to Covid-issue, i am guessing, Insurance company will do well in long run as many people might move to health/life insurance more (though i am not much aware of insurance industry in Canada now)

[@vishalaggarwal7673]

Which university from Canada would you suggest for doing actuarial science for international students ?

[@Actuaryelle]

If you google "center of actuarial excellence", I recommend filtering on Canadian universities and picking from that list 😊

[@tawnericcunningham7755]

Question. Do you think there's a timeframe to become an actuary? For example, would you say it's too late for a 26 year old to start pursuing this?

[@Actuaryelle]

Its definitely not too late, I know people who have started later, but its definitely harder. It's a lot of years of studying for actuarial exams. You have to ask yourself if you want to be 32 and studying for exams. If you have kids, do you want to take time away from being with them to study? I know people with kids who make that sacrifice, but it's a personal decision that should be considered seriously

[@tawnericcunningham7755]

@@Actuaryelle Thank you so much for the reply. I have no kids or significant other and have studied before for the P exam but decided it better to finish my B.S degree first. I actually work for an insurance company now but obviously not as an actuary. I always been aspired to be one since graduating college but you know how life can be.....Thank you again!

[@meenakshi6452]

Which company do you work for?

[@4seth]

Do actuaries ever evaluate the technological change in healthcare?

[@Actuaryelle]

I havent personally, but I cant speak for all actuaries

[@felipelandim2881]

Are you looking up?

[@Actuaryelle]

Up!

[@hongzuogan7102]

Thank you for this great content! Do you have a mailing list I can subscribe to? =)

[@Actuaryelle]

I dont, sorry

[@hongzuogan7102]

@@Actuaryelle looking forward to it! Thank you for the great video! Really enjoy watching it! - From Singapore!

[@Actuaryelle]

Hello from Canada!

[@markhadden3888]

*Very important comment alert*: You have excellent teeth.

[@Actuaryelle]

I'll pass the compliment to my orthodontist 👌