This week's Mathematical Sciences Department colloquium is given by Dr. Joshua Zhu, FSA, CERA, MAAA, Director of Financial Modeling of Aviva USA, West Des Moines, Iowa.
Actuaries use mathematics, statistics, and financial theory to assess the risk that an event will occur and to help businesses and clients develop policies that minimize the cost of that risk. They are essential to insurance and reinsurance industry, either as staff employees or as consultants. There is a significant increase of demand for actuaries in the next decade due to the global economy growth and more insurance industry regulations. In this presentation, the speaker is intended to provide a unique view on this profession with his own working experience in the life insurance industry as an actuary. Different working areas of actuaries are discussed and how to become an actuary is described. In addition, a financial modeling project based on speaker’s experience is presented as an example of actuarial work in the real world. The speaker will give an introduction to the market consistent embedded value and discuss how to calculate this value with actuarial approaches.
Coffee will be served in FO 2.610F at 10:30 AM.
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