In a sense, actuaries attempt to predict the future - not by gazing deep into a crystal ball, but by utilising mathematics, statistics, and theories of finance and risk to calculate and model the probability of future events. Actuaries develop creative solutions to mitigate negative outcomes and protect people and companies from potential harm.
German actuaries are represented by the German Association of Actuaries (Deutsche Aktuarvereinigung e.V., (DAV). The organisation, led by Dr. Guido Bader was founded in 1993 and has more than 5,300 members. Another 1,600 candidates for membership are actively enrolled on its in-house education and examination program. DAV is one of the five biggest actuarial associations in the world with more than 700 members on 13 committees. The organisations main aim is “to provide independent expert knowledge for all mathematical issues concerning insurance and finance.”
A report from the Institute and Faculty of Actuaries suggests that the actuarial profession is continually growing and expanding. “Actuaries are still in short supply around the world and the demand for actuaries will continue to grow as the world expands into new territories, such as artificial intelligence. Actuaries will always be in demand because they are great risk managers and problem solvers.” According to The Actuary Magazine, the actuarial profession is one of the most desirable professional industries to work in, "the profession is a mainstay on the best job’s rankings, regularly appearing in the top ten professions to work."
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