Actuarial Science Coaching by Experts

Actuarial Science applies probability analysis and statistics to define and solve the financial impact of uncertain future events. For example, actuarial science helps insurance companies forecast the probability of an event occurring to determine the funds needed to pay claims. The expanding Indian economy and rapid entrepreneurship have increased the requirement for skilled actuaries who can predict trends. As a result, developed countries have a very high demand for actuarial professionals. 

With the upcoming corporate culture and the surge in commerce companies, the job opportunities are very high in the actuarial science sector. They can have employability in the following sectors:

  • Financial services
  • Banking sector
  • Stock exchanges
  • Risk management
  • Pension funds
  • Investment consultancies

The demand for actuarial science graduates is huge in developed and emerging markets. With the right skills and experience, actuaries have a high chance of becoming a CEO. They are regarded as an asset in the company and are highly valued. Actuarial science graduates have a bright future in both the public and private sectors.

Actuarial science course imparts a detailed and structured education in actuarial science. It creates a unique blend of professionals attributing real-world solid business understanding, communication, interpersonal and leadership skills with an in-depth knowledge of Risk Management, Mathematics and Statistics. Candidates who pursue actuarial science are trained to identify future risks and design and develop new products to minimize the risk. The curriculum is designed to encourage and develop the standards of professional education, training, knowledge, practice and conduct among the Actuaries. 

Actuarial science is not an easy field. Actuaries also often lead teams and have a handful of different projects. Therefore, they must be able to handle all kinds of situations, to do, so an actuary requires a wide range of skills, and some of them have been listed below :

  • Problem Solving Skills- Actuarial Science professionals examine complex data and identify patterns to determine the factors responsible for certain outcomes. They look for ways to reduce undesirable results. Thus they require analytical understanding and problem-solving skills.
  • Mathematical brilliance- Actuarial professionals play with numbers all day long, so being good in basic maths is a definite requirement. They must also be at ease with calculus, statistics, and probability.
  • Technical knowledge- Different types of statistics software are the main requirement to be able to do the actuarial business. Having a basic understanding of Microsoft Office is essential. Knowledge of a statistical programming language is again a great skill for any actuary.
  • Knowledge of Business and Finance- MNC and financial firms are the main employers for actuaries. Their job is to evaluate insurance and advise firms on reducing and preventing financial losses. They also advise banks on ways to increase investment returns. To fulfil all these responsibilities, an actuary should have basic market knowledge of finance and investment.
  • Communication and Interpersonal Skills- They work with diverse people, therefore, having strong. Common people and even business and financial firms lack in-depth understanding. Therefore, having strong communication skills is a must, as actuaries should be able to translate difficult business and finance terms into a simpler language for common people to understand.

Looking for proper guidance in the field of Actuarial Science?

The Academic Junction Best Actuarial Science Coaching in Delhi will provide a solution for all the learning of actuarial subjects. Actuarial Science Coaching is provided by experts who have expertise in this field.

What is Actuarial Science?

All About Actuarial Science

What is Actuarial Science?

Actuarial Science uses Mathematics and Statistical knowledge and methods to assess different risks. Actuaries use probabilities and statistical techniques to predict uncertain future events.

It makes the career of an Actuary evergreen and exciting for people, especially those interested in Mathematics. Moreover, the current world scenario highly demands a capable actuary, increasing the job opportunities in this field.

How to become an Actuary?

One has to clear 13 subjects in the Actuarial science exam conducted by the Institute of Actuaries of India (IAI))/ Institute and Faculty of Actuaries(IFOA). These exams are globally recognized.

The recent changes in employment opportunities available for Actuaries Exam Curriculum have changed to reflect the skills, knowledge, and attributes required in an ever-changing business environment.

Stages of Actuarial Science Career

Below are explanations of the 4 different stages of the entire Actuarial Science Career.

Core Principles Stage

It comprises seven subjects covering the following areas-

  • Actuarial Statistics
  • Risk Modelling and Survival Analysis
  • Actuarial Mathematics
  • Loss Reserving and Financial Engineering
  • Business Finance
  • Business Economics
  • Business Management
Core Practices Stage

It comprises three subjects covering the following areas-

  • Actuarial Practice
  • Modelling Practice
  • Communications Practice
Specialist Principles Stage

It comprises 9 subjects covering the following areas out of which we have to clear only 2 to be qualified as Fellow. Each will be assessed using 3 hours and 15 minutes paper-based exam.

  • SP0- Master’s Level Thesis
  • SP1- Health and Care
  • SP2- Life Insurance
  • SP4- Pensions
  • SP5- Investment and Finance
  • SP6- Financial Derivatives
  • SP7- General Insurance- Reserving
  • SP8- General Insurance- Pricing
  • SP9- Enterprise Risk Management
Specialist Advanced Stage

It comprises 6 subjects covering the following areas out of which we have to clear only 1 to be qualified as Fellow. Each will be assessed using 3 hours and 15 minutes paper-based exam.

  • SA0- Research Master’s Thesis
  • SA1- Health and Care
  • SA2- Life Insurance
  • SA3- General Insurance
  • SA4- Pensions
  • SA7- Investment and Finance

Qualifications required to be an Associate and a Fellow

To qualify as an Associate, you will be required to complete the following examinations-

  • Core Principles
  • Core Practices

To qualify as a Fellow, you will be required to complete the following examinations-

  • Core Principles
  • Core Practices
  • Specialist Principles
  • Specialist Advanced

Planning to kick start your career in Actuarial Science?

The Academic Junction is the best institute for Actuarial Science Coaching in India, as classes are held by working professionals who are All India Actuarial Science Subject Toppers. They will support and guide you in your entire Actuarial Journey throughout your career.

We at The Academic Junction provide Live Online Actuarial Science Lectures, Actuarial Science Video Lectures, and Classroom Lectures for all Core Principles, Core Practices, and Specialized Principle exams.

All the details relating to Actuarial Science, demo classes and entry criteria can be checked in detail on the website- www.theacademicjunction.co.in.