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a popular interview question

U

uktous

Member
What are the most important challenges in the actuarial industry?

Honestly, I am not confident in this question.

Anyone can tell me your answer?

My answers are as follow:

Life: to meet solvency2
GI: climate change
Pension: many DB schemes transferred to DC schemes.
Investment: many derivatives writers can't meet their oligations
 
Like a later exam question, there is no right answer but dependent on the role you seek, they will be looking for awareness in specific topics.

Think broader: longevity issues --important on annuity books
confidence - many past problems still mean low consumer confidence eg Black Rock, pensions mis-selling, endowment problems
mortality : how soon will the obesity epidemic come to bite
Health : new issues like swine flu and other potential pandemics


So read the press around time of an interview and perhaps look at what the company is saying to the media. And don't be afraid to express your own thoughts.
 
bystander said:
Like a later exam question, there is no right answer but dependent on the role you seek, they will be looking for awareness in specific topics.

Think broader: longevity issues --important on annuity books
confidence - many past problems still mean low consumer confidence eg Black Rock, pensions mis-selling, endowment problems
mortality : how soon will the obesity epidemic come to bite
Health : new issues like swine flu and other potential pandemics


So read the press around time of an interview and perhaps look at what the company is saying to the media. And don't be afraid to express your own thoughts.
Click to expand...

can you recommend some "press" for me?
 
What industry do you plan on working in?

Climate change isn't really a massive challenge for GI at the moment. Bigger challenges are in risk/capital management, understanding exposures and SII - which encompasses the first two.
 
fiend said:
What industry do you plan on working in?

Climate change isn't really a massive challenge for GI at the moment. Bigger challenges are in risk/capital management, understanding exposures and SII - which encompasses the first two.
Click to expand...

i want to work in either life insurance or pension.


and why "risk/capital management, understanding exposures" are challenges?
 
It doesn't matter what press you read; they will just cover similar issues but from a different angle.

If you want detail, then something like FT is good; go for other press if you want more of a consumer gut reaction feel to issues. And don't forget about articles in the Actuary.
 
bystander said:
It doesn't matter what press you read; they will just cover similar issues but from a different angle.

If you want detail, then something like FT is good; go for other press if you want more of a consumer gut reaction feel to issues. And don't forget about articles in the Actuary.
Click to expand...

let me buy a FT to have a look later

thanks
 
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