Is becoming an actuary a good professional choice for a frum woman? What it’s like to study hundreds of hours for tests you take for years on end and why calculating risk is important, not morbid
E ver heard the joke about the difference between actuaries and morticians? These three women have endured their fair share of actuary jokes and more. They discuss what it’s like to study hundreds of hours for tests you take for years on end (hard) why calculating risk is important (everyone needs insurance for something) and how to respond to someone who asks if you’re depressed because you spend all day deciding when people will die (no).
23 an actuarial analyst at Berkley Accident and Health in Hamilton Square New Jersey. She’s been working in the field for two years.
It depends on the path you choose. There are two basic routes — life and health is one property and casualty is the second — and there are many types of actuaries in each field. Some examples: pricing actuaries help price products like an insurance premium. Reserve actuaries determine how much a company has to set aside to fund possible future liabilities. Product actuaries develop products from initial research to product monitoring.
In general an actuary thoroughly analyzes data and uses it to draw conclusions. She might research medical diagnosis categories that have a high probability of large claim amounts based on her company’s experience and external research and use that information to price products. I work as an entry-level actuarial analyst for a health insurance company collecting and organizing data on premiums reserves and paid claims. My superiors analyze that data as an indicator of how the company performed.
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