Actuary Club at the University of Minnesota

Updates:

Exec Board elections have come and gone.
President: Melanie Cox
Vice President: Landon Meece
IT Student Board Rep: Bethany Gildner
Business Board Rep: Elise Hanson
Event Coordinator: Helen Muller
Assistant Even Coordinator: Stephanie Rose
Webmaster: Eli Zewdie

The members list is still being updated! If you want your name added to the list email actuary@umn.edu

Next Meeting:

Congratulations to the Actuary Club on another successful year! (no meetings left)

Mission

To inform prospective and current actuarial students about the actuarial profession and guide them to reach their goals on becoming an actuary. To join students from IT, CLA, and CSOM into one place where they can study and share ideas with each other.

What is an Actuary?

An actuary is someone who analyzes the financial impact of risk. Actuaries use mathematics, statistics, economics, and finance to analyze and manage uncertain future events.

Actuaries are an important part of the management team of the companies that employ them. Their work requires a combination of strong analytical skills and business knowledge to design and manage programs that control risk.

Where do Actuaries Work?

Most actuaries work in one of four major disciplines (life, health, property & casualty, pensions) split across two industries (insurance, consulting).

Traditional roles for an insurance actuary include pricing and reserving. Pricing involves looking at various risk factors to figure out how much to charge for various annuities, life, health, and property insurance products. Reserving involves estimating how much money to set aside in order to ensure the company can pay its future claims.

Traditional consulting actuaries help other companies design pension and benefit plans and evaluate their assets and liabilities.

What do Actuaries Do?

Life actuaries typically focus on mortality and and the application of interest to price life insurance and annuities. Most life actuaries are in insurance.

Health actuaries are concerned with factors affecting people's health and well-being and use them to price health insurance and manage healthcare systems. Health actuaries work in both insurance and consulting.

Property & casualty actuaries are concerned with risks relating to people and property to price products such as auto or liability insurance. Most P&C actuaries work in insurance.

Pension actuaries are interested in factors that affect how much an employer will have to pay its employees upon retirement. They use this information to help determine how much money to set aside now to make sure they can fund these retirement benefits in the future. Most pension actuaries work in consulting firms.


Officers/Contact Info Members/Alumni Events Exams VEE Employers/Contacts Advising Interview Preparation Other Websites	Updates: Exec Board elections have come and gone. President: Melanie Cox Vice President: Landon Meece IT Student Board Rep: Bethany Gildner Business Board Rep: Elise Hanson Event Coordinator: Helen Muller Assistant Even Coordinator: Stephanie Rose Webmaster: Eli Zewdie The members list is still being updated! If you want your name added to the list email actuary@umn.edu Next Meeting: Congratulations to the Actuary Club on another successful year! (no meetings left) Mission To inform prospective and current actuarial students about the actuarial profession and guide them to reach their goals on becoming an actuary. To join students from IT, CLA, and CSOM into one place where they can study and share ideas with each other. What is an Actuary? An actuary is someone who analyzes the financial impact of risk. Actuaries use mathematics, statistics, economics, and finance to analyze and manage uncertain future events. Actuaries are an important part of the management team of the companies that employ them. Their work requires a combination of strong analytical skills and business knowledge to design and manage programs that control risk. Where do Actuaries Work? Most actuaries work in one of four major disciplines (life, health, property & casualty, pensions) split across two industries (insurance, consulting). Traditional roles for an insurance actuary include pricing and reserving. Pricing involves looking at various risk factors to figure out how much to charge for various annuities, life, health, and property insurance products. Reserving involves estimating how much money to set aside in order to ensure the company can pay its future claims. Traditional consulting actuaries help other companies design pension and benefit plans and evaluate their assets and liabilities. What do Actuaries Do? Life actuaries typically focus on mortality and and the application of interest to price life insurance and annuities. Most life actuaries are in insurance. Health actuaries are concerned with factors affecting people's health and well-being and use them to price health insurance and manage healthcare systems. Health actuaries work in both insurance and consulting. Property & casualty actuaries are concerned with risks relating to people and property to price products such as auto or liability insurance. Most P&C actuaries work in insurance. Pension actuaries are interested in factors that affect how much an employer will have to pay its employees upon retirement. They use this information to help determine how much money to set aside now to make sure they can fund these retirement benefits in the future. Most pension actuaries work in consulting firms.
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