Application of actuarial skills to non-insurance industries

Abstract

This is an exploratory study into the various areas which actuaries can contribute with value-added. It includes a detailed analysis of the various functions within banks, other financial institutions, capital projects and the government in which actuarial skills may be utilised. A few other areas have also been identified – actuarial counselling, retail, construction and health. Finally, this report outlines a few recommendations that are necessary for actuaries to be able to branch out to wider fields.