But that doesn't mean opportunities aren't available outside of policies and. In fact, most actuaries are engaged in the insurance industry. But that doesn't mean that opportunities aren't available outside the framework of policies and premiums. One is that you'll learn a lot from the exam material that is evaluated in the first 7 actuarial exams while you're in school.
Actuarial science is the field of study related to the quantification of risk using mathematics, probability and statistics. It's natural considering that the basis of the insurance industry is risk, and actuarial science has to do with risks. So, if you've been considering an actuarial career, you'll need to find out if specializing in actuarial science is the best path for you or not. And that means that more companies from different industries will be more willing to have some actuarial experience in their workforce.
In my experience, actuaries tend to pay well in insurance and if they get a job in other fields it's because of their other skills, rather than because of their actuarial training, which isn't in high demand when leaving the insurance world. Currently, there seems to be a relatively large demand for human resources or expertise related to human resources, including actuaries (formerly a more traditional pension actuary). You'll find useful study resources for the Chartered Financial Analyst (CFA) exams, the Financial Risk Management (FRM) exams, and the SOA (Society of Actuaries) exams. Banks, on the other hand, are hiring more and more actuaries because of the long-term forecast that the entire profession focuses on.
Actuaries use mathematical and statistical concepts to determine the probability that certain events will occur in the future (and when they will occur), as well as the expected financial impact of those events. Finally, having experience in actuarial internships or work experience in a related field is becoming increasingly necessary to get an actuarial job. This doesn't mean that it's impossible to get a job or that you shouldn't look for one if you're interested, but rather be prepared to work in a related position for a few years before moving to an actuary position. You can also work for the government (state and federal), the CAS or SOA, or software companies that develop actuarial software.
Sure, people do well as an actuary outside of insurance, but the actuarial's goal is to be an insurance specialist.
