Activists are who? Actuaries in insurance

The profession of an actuary is prestigious in the US and European countries. Such specialists are considered indispensable in various spheres of business. In Russia, the popularity of this profession is not observed, but this does not prevent active use of organizations by actuaries in various areas of its activities. The most popular are in the banking , insurance services , and also actively using their services pension funds.

The actuary is a certified specialist

Actuaries are specialists who have a higher economic or technical education, and also possess the relevant actuary certificate. In Russia, their activities are not such that they need to be licensed, so the certificate is issued on the basis of special examinations. Not all candidates pass this type of value verification. But on their successful surrender, you can safely say that the actuaries are specialists of the highest standard. They are carried out by the state supervisory authority.

It can be said that actuaries are specialists in the field of mathematics, who have certain skills necessary for calculating insurance risks. In addition, actuaries can make calculations that allow you to draw conclusions about the success of investing in these or other assets.

The insurance company can not do without such a specialist

An actuary in insurance is a specialist who performs calculations of insurance rates and insurance premiums. Probably the most demanded are such specialists in the field of providing insurance services, the value of which is determined on the basis of the actuary's calculations. In addition, actuaries are such professional employees who calculate the necessary reserves of the insurer, they can evaluate the investment project, as well as other calculations related to voluntary or compulsory insurance.

Such specialists are indispensable for insurance companies. Since an actuary in insurance is an employee who must have high qualifications, the company treats them with special attention, since it is rather difficult to find a professional.

Also, according to the legislation of the Russian Federation, insurance companies must provide reports to the body supervising their activities on their obligations. Such reports are carried out on the basis of calculations performed by actuaries.

An insurance actuary is not a profession that you should choose if you do not know math and other exact sciences well. The specific nature of the work of such an employee is precisely the exact calculations that need to be carried out day in and day out. After all, an insurance actuary is a very responsible profession: because of incorrect calculations of insurance tariffs , such a company can simply take away the right to engage in insurance activities.

When this profession appeared

The word "actuary" has Roman roots. So called in ancient Rome, a man who was engaged in keeping the minutes during the Senate meeting. But this meaning of the word is a thing of the past.

Actuarial activity in the modern understanding of the functions, duties and tasks of actuaries appeared in the UK at the end of the 18th century. At that time, it was simply necessary to mathematically correctly substantiate the level of certain insurance sums that characterize certain risks in life insurance.

In 1762, the first company that acted as actuarial company appeared. Because of the great demand for such specialists, this market grew and developed. In parallel with the growth of the market, there was a growing need to create an organization that would unite the actuaries and supervise their work. This contributed to the emergence of the London Institute of Actuaries in 1848, and also four years later - the Faculty of Actuaries in Edinburgh.

Already in 1895 similar societies of Belgium, Great Britain, Germany, France, and also the United States of America created a joint International Association of Actuaries, whose main headquarters is in Brussels. This organization holds meetings every four years. They are discussing the pressing problems of actuarial activity, practice, organization and functioning.

What tasks are set for such specialists

The tasks of the actuary are to carry out calculations in order to calculate the appropriate tariffs for insurance services. Under the appropriate tariffs is understood the cost of the company's services, which will cover all the risks of its activities, so that the level of solvency and financial stability were at the proper level, ensuring the stability of work and timely settlement of the obligations undertaken.

An actuary is an employee who is able to provide answers to management personnel on all issues related to the cost of tariffs. For example, he should know the answer to the question about how the insurance premium will change if the franchise is increased to a certain level, and also "remove damage from other circumstances" from the list of insured risks. At the same time, he must have such a level of knowledge that will allow him to recalculate clearly the tariffs for any services of the organization related to insurance activities, clearly to kopecks.

How to become an actuary

First of all, you need to get the appropriate qualifications. Training for an actuary is expensive. A survey of employers abroad shows that their tuition costs are approximately 6,000 pounds sterling per year.

To become an actuary, the applicant must pass as many as 15 exams. In addition to paying for training, companies provide support for employees with training aids and other materials that can be useful in mastering the profession.

It is difficult to learn the actuary in Russia

In the territory of the Russian Federation, no educational institution deals with the training of this particular specialty. In general, a person who has a higher education and knows mathematics is taken to work. And then companies already independently conduct training and educate in it the specialist of actuarial business.

It is necessary to obtain a certificate in the Actuarial Society of Russia. Some take examinations of foreign guilds of actuaries, which allows them to confirm their level of knowledge and successfully arrange to work for an insurance company or a bank.

Self-regulating organizations of actuaries (SRO of actuaries)

In order to monitor the activities of these specialists, non-profit organizations are created that oversee their work and can also regulate the relationship in the market of actuarial services. In other words, self-regulating organizations of actuaries, created as workers' associations, monitor the activities of such specialists.

Any such specialist for the performance of his professional activities must be a member of such an organization.

What are the functions of SRO of actuaries

The following main functions can be distinguished:

1. Development, approval and implementation of standards and rules, which should guide actuaries, carrying out professional activities.
2. Establishment of requirements and conditions for the admission of new members, the size of membership fees, fines.
3. Protection of interests, as well as the rights of members of the organization before government bodies, courts and other proceedings.
4. The exercise of control over the professional activities of the members of the organization, compliance with all norms and procedures provided for by law.
5. Providing full informative support of members.

What requirements should be met by SROs

The activity of actuaries in Russia is accompanied by a system of normative and legal documents that has not been fully worked out. That is why now, on consideration of the State Duma of the Russian Federation, they are considering a bill that will regulate the activities of actuaries. This normative legal document implies that a self-regulating organization of actuaries should meet the following requirements:

1. The organization includes at least 100 individuals who meet all the requirements established by law.
2. A compensation fund should be created to pay claims on customers. Such a fund is formed exclusively from cash. At the same time, all members of the organization must make a mandatory contribution to it. The minimum payment must be 30,000 rubles. The maximum amount of payment for claims of customers from the compensation fund should be no more than 600,000 rubles.
3. In such an organization there should be a clear structure, subdivisions, and also a collective governing body. The supervisory board may act as a management body.
4. The organization must apply in the work those standards of actuarial activity that comply and do not conflict with the legislation of the Russian Federation.

Being an expert and being able to calculate the value of certain risks is a difficult profession. The actuary must possess good knowledge in the exact sciences and be able to solve complex problems associated with a large number of unknowns.