I have worked at LCP in the Insurance Consulting department for nearly 2 years as an analyst. I was an intern at LCP for 2 months in the summer of my second year of university and was offered the graduate position at the end of my internship.
Why become an actuary?
I became an actuary as I wanted a job that combined both my degree subjects: a technical and analytical job to use my maths ability and yet a job that involved a lot of communication, report writing and presenting to use the skills I learnt from studying psychology.
I am approximately halfway through the actuarial exams and will hopefully become a qualified actuary in a couple of years. One of the main reasons I chose to be an actuary was to keep studying. The exams involve university level mathematics and statistics so I’m still learning more all the time and improving in my job.
What skills do you need to become an actuary?
I would say the key skills you need to be an actuary are problem solving, an analytical mind, attention to detail and strong written/verbal communication.
I chose LCP because of the opportunities you are exposed to early on by working for a consultancy as opposed to an in-house actuarial team at an insurance company. I get to work on a wide range of projects and clients. Even this early on in my career I have a lot of communication with clients and opportunities to present to people. LCP provide so much support with technical and soft skills training, as well as helping you to get through the actuarial exams. Due to the graduate programme there many people at a similar stage to you in their careers and I enjoy working with a lot of people my own age.
What do you do day to day?
The majority of my work is reserving projects for Lloyd’s Syndicates and commercial insurance companies. This involves:
- modelling, claims projections, data processing and manipulation
- explaining and presenting my assumptions and selections to senior actuaries
- communicating with clients through emails, meetings and calls and report writing
I’m also involved in organising training for my department and help to run the research and presentation programme for new graduates.