The actuary, sometimes called a clerk, is a person specializing in the application of the calculation of probabilities and statistics relating to matters of insurance, social welfare and finance. It uses statistical and mathematical techniques to describe and predictively model future events such as the frequency of certain claims or the lifespan of humans.
Steps
Part 1 of 3: Qualifications
Step 1. You love math
To become an actuary, you must love math. You will indeed have to calculate, for example, the amount of a premium in the event of the death of a subscriber by carefully analyzing and deciphering the French mortality table.
Step 2. You are thorough
Precise and meticulous, you place a lot of importance on details in order to make calculations that are as precise as possible.
Step 3. You master computer tools
Numbers hold no secrets for you and neither do IT tools. You are on the lookout for general information and all innovations in statistics.
You must maintain a neutral and lucid outlook on the markets and you observe the development of your competitors
Step 4. You have the spirit of synthesis
Showing a particularly developed creative sense, you have a fabulous spirit of synthesis allowing you to find the solutions adapted to the problems posed.
Step 5. You know how to anticipate
If you anticipate badly, you can generate huge losses for an insurance company.
Part 2 of 3: the necessary training
Step 1. Obtain your bachelor's degree
The actuary profession is open to graduates who have completed graduate studies in:
- mathematics
- statistics
- econometrics
- computer science
- finance
Step 2. The BTS insurance
The BTS (Brevet de technicien supérieur) allows you to access actuarial technician positions after 2 years of study.
- You can get the BTS insurance with a baccalaureate STG, a tray S, a tray ES and in some cases a bac THE.
Step 3. The DUT in legal careers
The DUT (university diploma in technology) is obtained with the same bac as a BTS insurance and allows you to access the same positions.
Step 4. The License
After a first cycle in MASS (applied mathematics), AES (business administration), economics, law, insurance or a scientific preparation, you can obtain a Pro License in the field of actuarial science.
Step 5. The Master
A master's degree in actuarial science and risk management, computer science and statistics or mathematical engineering allows you to obtain a high-level position.
A high-level position will also be a position of very high responsibility
Step 6. An engineering school
You can acquire a specialization in actuarial science by leaving an engineering school or after a bac + 5 course.
Step 7. The Ifpass
Ifpass (Institute for training the insurance profession) offers training to holders of a bac + 2 who can prove professional experience and have solid mathematical foundations.
Step 8. ISFA
The IFSA (Institute of Financial Science and Insurance) of Lyon offers various training courses such as the SAF (Actuarial and Financial Sciences) specialty.
Step 9. The University of Maine
The University of Maine located in Le Mans offers various courses such as the double degree in mathematical economics, actuarial and financial sciences.
Step 10. The CNAM
The CNAM (Conservatory of Arts and Crafts) offers actuarial training to holders of a bac + 3, bac + 4 and bac + 5. Registrations must be made at the EFAB (economy, finance, insurance, banking).
You can consult the admission conditions and the amount of support on this link
Step 11. The Institute of Actuaries
The Institute of Actuaries allows you to move towards the career of an associate actuary who is a member of the Institute of Actuaries.
Step 12. The other formations
You will find a list of institutes allowing you to become an actuary on this link.
Part 3 of 3: The actuary profession
Step 1. The salary
The salary of a novice actuary is between 40,000 and 50,000 euros gross per year. You can obtain valuable information on this profession, which was still little known in France in 2014 on the SACEI website (Syndicate of independent consulting actuaries and expert actuaries).
Step 2. Your work
By being an actuary, you will work for insurance companies. You will have to foresee the vagaries of a specific situation, calculate the risks and allow the drafting of an insurance contract leaving no room for the unforeseen while maximizing the profits of the company.
Step 3. Possible evolution
The evolution within this profession can be rapid. You can indeed access management functions after 5 years of experience and become:
- Head of the Studies and Foresight Department
- actuarial manager
- asset-liability management manager
Advice
- Try to get a bac S which will allow you to familiarize yourself with mathematics and organization.
- To become an actuary, you need to be very organized and thorough.
- You are proactive, rigorous and you are not afraid to take responsibility.
