Actuaries are business occupations that deal with financial risks. They mainly use mathematical, economic, financial and statistical tools to deal with some uncertain and unknown events related to insurance and reinsurance companies. The scope of work of actuaries is very extensive.
Actuaries (Latin for management) is a business profession dealing with financial risks. Actuaries mainly use mathematical, economic, financial and statistical tools to deal with some uncertain and unknown events related to insurance and reinsurance companies. Originated in Britain, it has a history of 300 years in the west. In addition, it is also related to employee insurance (medical insurance and pension plan) and social welfare projects (social security and social care).
Actuaries are usually divided into two categories: individuals and accidents. Life insurance actuaries deal with the risks of life insurance, annuity insurance, pension insurance, disability insurance and medical insurance related to illness, health and natural death. Accident actuaries mainly deal with the risk of accidents to people and property.
Actuaries have a wide range of work, including:
1. Design of insurance products: Through the investigation of people's insurance demand, new insurance clauses must be designed, taking into account people's different needs, with reasonable pricing, management feasibility and market competitiveness;
2. Calculation of insurance rate: Determine the price of insurance policy according to past vital statistics, current bank interest rate and expense rate;
3. Calculation of cash value of reserves and policies;
4. Adjust rates and insurance coverage: adjust rates and coverage according to social needs and time to increase attractiveness and competitiveness;
5. Review the company's year-end financial report.
6. Grasp the investment direction: evaluate the company's investments to ensure the safety and profitability of the investments;
7. Participate in the company's development planning: provide effective data support and professional advice for the company's future economic decision.
The internationally famous actuarial societies are: North American Actuarial Society, British Actuarial Society, Japanese Actuarial Society and Australian Actuarial Society, among which North American Actuarial Society is the most representative and authoritative in the world and enjoys a high reputation.
Actuaries are considered to be outstanding experts in analyzing financial risks. Internationally renowned actuaries are:
Lu Jianyu, a famous Chinese actuary. He is also an actuary in North America, Britain and Australia. He has served as actuarial director of AIA, financial director of Honglia Pacific, appointed actuary of a well-known Australian insurance company, executive director and financial director of Pacific Century Insurance Group. Such qualifications are almost unmatched by China people.
Lu Jun, chief actuary of Great Wall Life Insurance. An intellectual beauty who was certified as an actuary in North America, once worked in Ernst & Young, Tongneng and other well-known consulting companies, and worked in new york Life for eight years.
Mr. Zhu Guangjian, deputy general manager and chief actuary of China Ping An Property Insurance Co., Ltd., and vice president of China Actuaries Association, is qualified as an actuary in North America, Europe and Japan.
Bao Hongjian, a woman who entered the top management of domestic insurance companies by actuaries. She is one of the few in China? Double-certificate actuary? One (North American actuary and Chinese actuary).
Stephen? Meyer. The first actuary to enter the senior management of China insurance company. It was hired by Ping An Insurance 1999 with a high salary from overseas.
American actuary Daniel? Kunis. In 2005, he became the chief actuary of China Life Insurance Company Limited. ;