Introduction to Actuarial Science

WHAT IS ACTUARIAL SCIENCE?

~ Actuarial Science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.

~ Actuarial Science includes a number of interrelating subjects including probability and statistics, finance, and economics.


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WHAT IS AN ACTUARY??

~ Multi-skilled strategies, trained in theory and application of mathematics, statistics, economics, probability and finance.

~ Analyzes, manages and measures the financial implications of future risk.

~ Develops and validates financial models to guide decision making.


WHERE DO ACTUARY WORKS??

~ Insurance Industry
*Property (home) and casualty(auto)
*Life/Takaful and Reinsurance/Retakaful
*Actuarial department
*Crucial department

~Employee Benefit Industry
*Government Pension Department
*EPF
*SOCSO

~Financial Services Industry
*Banks, investing, risk management
*Mergers and acquisitions

~ Higher Learning
*Lecturer