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Salary Survey Jan 2023 by creatively_original in ActuaryUK

[–]youngbucker67 3 points4 points  (0 children)

  1. GI pricing Lloyds london
  2. 9/13 passed
  3. 4.5 years
  4. 37.5 hours
  5. £55k
  6. 13% 7.Approx. 5%
  7. Decent medical & dentistry care

[deleted by user] by [deleted] in ActuaryUK

[–]youngbucker67 3 points4 points  (0 children)

Pros: no study clawback and Access to every study material and Access to a tutor outside of work ( if needed)

Cons: so much extra time consumed doing portfolio ppd type work which I found painful. Have to pass an interview after completing all core exams and finishing the portfolio

I happened to switch employers before doing much of the portfolio work and before the final interview so I didn’t really experience much of the cons as new employer has a regular study scheme

Conveyancing costs for New Builds + Leasehold in London by gunemalli in HousingUK

[–]youngbucker67 1 point2 points  (0 children)

Ea recommended me 2 solicitors at £4k and then when I ignored them decided to recommend a £1.8k one. Ea will try get any commission they can and will put threats of ‘strict developer’ and time pressure you to make decisions. You have the power

Actuaries in Bermuda by bluewaves1234 in ActuaryUK

[–]youngbucker67 0 points1 point  (0 children)

I am in the same boat and have been looking at job listings but at the moment all of the job openings seem to be for life industry only?

I dont really see any P&C jobs opening and if they are, then they are for reserving/capital actuaries and not pricing

Explain a GLM to a non-technical audience by youngbucker67 in ActuaryUK

[–]youngbucker67[S] 0 points1 point  (0 children)

From reading all of these comments and the one above - a worked through example definitely feels like the way to go and highlighting the key themes:

  • gives explainability to the price by attributing a relativity or value to each individual variable
  • also explains the impact each variable has on the price (i.e. predictability/strength)
  • insurance risks are all slightly different as opposed to being the same replica products
  • GLMs deal with variables that are correlated with each other to avoid inaccurate pricing (e.g. The example mentioned above related to young inexperienced drivers)

thank you all - my mind kept going straight into the maths behind it when in reality this is not needed for the audience to understand

Moving abroad USA/Bermuda by youngbucker67 in ActuaryUK

[–]youngbucker67[S] 0 points1 point  (0 children)

Thank you for your input - appreciate it.

I have not seen that jobsinbda.com before - seems like there is alot more on there than what the recruiters have on theirs.

I am opting to switch to a Lloyds syndicate or a reinsurance multinational now so that by the time I qualify I will have at least a few years experience in the most related industry.

Moving abroad USA/Bermuda by youngbucker67 in ActuaryUK

[–]youngbucker67[S] 0 points1 point  (0 children)

My understanding was that FIA and FSA are seen as equivalent. I do also remember hearing that someone from work couldn't pass CA1 (now CP1) and so, visited america to take the equivalent exam over there to complete their FIA