What is the scope of actuarial science? What are the sources of income after completing this course?

Scope in Various Sectors: Actuaries have key roles in many business as well as social contexts. They are: Health Insurance Vehicle Insurance Life Insurance Employee Retirement and Benefit Plans General Insurances Investment and Financial Services A few other sectors that require suitable actuaries are listed below. Asset Liability management in many sectors Pension Funds Banks Project Management Hospitals Health care sectors Education sectors BPO Investment firms Risk Management Rating Agencies Actuaries can play the following roles. Risk analysts Administrating officer BPO administrator Actuary Director Finance consultants in various Insurance sectors General Officer Financial Service Executive Appointed Actuary Actuarial Analyst Health care directors/managers/analysts Accounts manager Pension Providing administrator other than in Insurance companies Senior Actuarial Analyst Asset Liability manager Financial/Insurance Consultants in IT sector Insurance risk managers Assistant Administrative Officer Scope in Government Insurance Companies The following insurance companies in the public sector also provide placements for actuaries. New India Assurance Company Life Insurance Corporation of India Oriental Insurance Company Limited National Insurance Company Limited United India Insurance Company Scope in Private Firms A few organisations in the private sector that provide career opportunities for actuaries are listed below. Birla Sun Life Insurance Co. Ltd. Non-Governmental IT Organizations Max New York Life Insurance Non-governmental education institutes SBI Life Insurance Co. Ltd. ING Vysya Life Insurance Allianz Bajaj Life Insurance Co. Metlife India Insurance Co. Ltd. Scope of Actuaries Abroad There are many foreign countries like U. K, U. S, Sri Lanka, etc. Offer job opportunities for actuaries in various sectors. Some of the European countries provide very high salary package and good positions for experienced actuaries. Fresh candidates also have great scope abroad.

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Hi Virendra, Careers in the actuarial field includes: 1. Actuary 2. Risk analyst or consultant 3. Insurance underwriter 4. In addition to the specialised careers listed above, Actuarial Science students graduate with statistics and financial mathematics expertise that can lead to career opportunities in the following fields: -Finance -Management -Statistician (in any of the diverse fields where statisticians are employed, ranging from marketing to pharmacology to engineering) -Education.

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Hi Virendra, Actuarial science is a course that concentrates on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems. A number of universities offer UG and PG courses in actuarial sciences. Any one above 18 years of age with proficiency in mathematics and statistics can take up the course and become an Actuary. The candidate must pass 10+2 or equivalent Admission will be on the basis of the merit scored in the institute’s entrance exam. Actuarial Science Entrance Exam Admission IGNOU and Institute of Actuaries of India - May Examination are some of the entrance exams. *Fee structure varies from college to college. Employment Opportunities- LIC, GIC, ESIC, Banks, Stock Exchanges and other financial institutions controlled by Govt. &amp; Private bodies. For more, refer- <a href="https://www.shiksha.com/getArticleDetail/2311/Actuarial-Science-A-Zero-Unemployment-Professional-Program" style='word-wrap:break-word;'>https://www.shiksha.com/getArticleDetail/2311/Actuarial-Science-A-Zero-Unemployment-Professional-Program</a> <a href="https://www.shiksha.com/getArticleDetail/1561/Weigh-Actuarial-Science-As-A-Job-Option" style='word-wrap:break-word;'>https://www.shiksha.com/getArticleDetail/1561/Weigh-Actuarial-Science-As-A-Job-Option</a> I hope it helps. Please feel free to revert. Wish you luck.

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