Graduates of an actuarial science degree program can also use their education to become business analysts, budget analysts, intelligence agency analysts, research analysts, financial analysts, insurance insurers, or insurance claims adjusters. In general insurance, you'll find policies related to commercial risk, property (insurance for homeowners and cars), terrorism and natural disasters. Your task here will be to analyze large amounts of data in relation to the above-mentioned areas. For the actuarial profession, there's no denying that things are getting better, that is, in terms of employment opportunities.
In addition to private insurance companies and financial and investment institutions, government companies can also use some actuarial knowledge, for example, the Social Security Administration (SSA) and the Department of Government Actuaries (GAD) of the United States and the United Kingdom, respectively. According to the United States Bureau of Labor Statistics, it is estimated that by 2028, the absorption of actuaries into the profession will have increased by 20%. It's natural considering that the basis of the insurance industry is risk, and actuarial science has to do with risks. You'll find useful study resources for the Chartered Financial Analyst (CFA) exams, the Financial Risk Management (FRM) exams, and the SOA (Society of Actuaries) exams.
The Company of Actuaries better prepares people for careers in risk management and for an increasing number of emerging job opportunities in industries where actuaries have never been. And that means that more companies from different industries will be more willing to have some actuarial experience in their workforce. For more information on the practice areas related to the examples of actuarial work listed below, visit the SOA community of sections. In fact, actuarial consultants carry two different roles at the same time, offering their skills in the insurance and finance industries.
Of course you won't find so many, some insurance companies have their own banking wings where they have placed actuaries to lead the program in terms of risk and finance in general.