actuaries working with auto insurers have
plenty of time to learn and adapt before
self-driving cars are the norm.
“You should be thinking about how the
expertise you’re developing can translate into
other insurance disciplines,” said Lynch of
the Insurance Information Institute. “Right
now a big deal in auto insurance pricing is
predictive modeling, so I would keep an eye
on what’s happening in predictive modeling
in other types of insurance. Read about it
and think about it, and always be aware
about where the skills you’re developing
will be useful in the future in your career.”
It’s also important to remember that
it’s not uncommon for actuaries to move
around in multiple areas of a business or
even to multiple organizations over their
careers, he added.
“Often actuaries will get the opportunity within their company to grow in a
new direction or help with a new business,
and you should always be looking to do
that whether your job has anything to do
with autonomous cars or anything else,”
In other words, your career as an actuary
is a journey—not a destination. And unlike
the autonomous cars of the future, it’s best
not to just put things on autopilot and hope
you’ll arrive where you would like to go.
JEFF REEVES is a financial journalist
with almost two decades of newsroom
and markets experience. His commentary
has appeared in USA Today, U.S. News &
World Report, CNBC, and the Fox Business
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