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“The capacity to make a substantial impact can be exceptionally fulfilling” – Interview with Inga Helmane

As a Board member of the Actuarial Association of Europe (AAE), Inga Helmane is involved in review and supervising the execution of AAE’s Strategic plan and Business plan. Recently, she commented in her blog entry “Supply chain management: Where are the actuaries of the future?” the findings of an AAE survey regarding this topic. In our interview we talked to Inga about the essential findings from an AAE-survey regarding young people in the actuarial profession, her view on which expectations young actuary applicants have and how to promote them. 
Written on 06/21/23

Why is it important to attract more young talents to become actuaries? 

Attracting more young talents to become actuaries is crucial for the long-term sustainability, relevance, and growth of the profession. It enables the profession to adapt to changing dynamics, foster innovation, and continue making meaningful contributions to managing risks and securing the financial well-being of individuals and organizations.

What insights have you gained regarding the interests of young people in the actuarial profession via your AAE survey? 

In the survey, we asked respondents which factors most strongly influenced their decision to choose an actuarial career and the most popular answer, chosen by 38 percent of those surveyed, was expected salary and prospects. Would we receive different responses if the question were  posed directly to young actuaries (students)? Is the potential benefit package the most compelling reason to choose the actuarial profession? I would like to think that the second highest response, provided by 24 percent of respondents, to be motivated by diverse job opportunities, could potentially be even higher if young actuaries were directly asked this question

How can the AAE help its member associations and the whole profession in this process?

As revealed in the blog, there is no easy answer. The AAE will continue to promote regular exchange and dialogue among our member associations, and to act as a forum for sharing goal-oriented strategies and activities.

Why do you personally think being an actuary is a great thing?

It is often presumed that actuarial knowledge and expertise are primarily needed  to work in financial institutions such as insurance and reinsurance companies, as well as in banks. However, based on my experience, I have observed that diverse career paths are available to actuaries. Actuaries have a pivotal role in evaluating risks, directly influencing the financial stability of both organizations and individuals. This sense of responsibility and the capacity to make a substantial impact can be exceptionally fulfilling.

For more insights into the topic read Inga´s latest AAE Blog post ”Supply chain management: Where are the actuaries of the future?”: