Role of Actuaries

  1. How can actuaries help the development of country? Can someone explain to me in details?

  2. How can an actuary help insurance companies? Explain in details as well :slight_smile:

  3. What is the benefit of studying in the UK to the companies and students itself compare to studying locally? Other than experiencing diverse culture. Benefits in terms of education and knowledge towards the company and country.

Thank you in advance! :smiley:

Just a disclaimer, I don’t know the exact role of actuaries, these answers are just based on my assumption on what a actuary does in work.

  1. Every single job helps the development of country. Even a janitor, cleaner or maid helps.

  2. Actuary uses their maths skills in statistical calculation of future risk and potential payout (using mathematical models and formulae) to insurers in order to find the breakeven point for insurance company to start to make profit by setting the insurance packages above the breakeven price.

  3. If you subscribe to the belief that overseas study is always better than local studies in terms of up-to-date syllabus and immersive teaching/learning experience and high employability, then this Actuarial Science course is no difference.