31, January 2025

A study on history of actuaries and actuarial entrepreneurship today

VOLUME-11; ISSUE-1; JAN-2025

Author(s): MEGHANA S., DR. RAVINARAYANA K S

Authors Affiliations:

  1. Assistant Professor, Management Dept, Ballari Business College, Ballari, Karnataka, India
  2. Assistant Professor, Department of studies in Business Administration, VSKU Ballari,  Ballari, Karnataka, India

DOIs:10.2015/IJIRMF/202501001     |     Paper ID: IJIRMF202501001


Abstract
Keywords
Cite this Article/Paper as
References

The world is developing at a faster pace in every field. This is possible through integration and globalization. These developments gave opportunities to the entrepreneurs. But these opportunities are not in isolation from challenges and competition. An entrepreneur should be ready to handle risk. Taking up risk requires proper estimation and management. To do this particular work we have professionals called actuaries. The present paper is exploratory research with secondary data being major source of information. The objective of the paper is to take the research from roots (history) of actuaries to present; actuaries as entrepreneurs. The paper is divided into three sections. The first, introductory section includes, introduction, objectives and methodology. The second part details on history of actuaries, skill set of actuaries, discussion on ‘can actuary be called as profession?’, and how actuaries are widening their scope of operation towards becoming entrepreneurs and handling Enterprise Risk Management(ERM). The concluding section discusses on major findings of the study.

Actuary, Entrepreneur, risk, insurance, profession.

Meghana S,   Dr. Ravinarayana K S (2025); “A study on history of actuaries and actuarial entrepreneurship today”; International Journal for Innovative Research in Multidisciplinary Field, Vol-11, Issue-1, Pp.1-6.  DOIs:10.2015/IJIRMF/202501001  Available on – https://www.ijirmf.com/

  1. Akshatha, B.G. Actuaries Role in the fixation of Premium in Insurance Business. Department of PG Studies and Research in Commerce, Kuvempu University.
  2. Bühlmann, H. (1997). The Actuary: The Role and Limitations of the Profession since the Mid-19th Century. ASTIN Bulletin, 27(2), 165-171. doi:10.2143/AST.27.2.542046
  3. D’ARCY. S. P. 2005. ON BECOMING AN ACTUARY OF THE FOURTH KIND. PRESIDENTIAL ADDRESS–NOVEMBER 14, 2005.
  4. Daniel, J. (2006). What is an Actuary? Math Horizons, 14(1), 30–31. https://doi.org/10.1080/10724117.2006.11974666
  5. Hickman J. 2006. History of Actuarial Profession. Encyclopedia of Actuarial Science. https://doi.org/10.1002/9780470012505.tah012
  6. (2013). The Role of The Actuary. International Actuarial Association.
  7. Lewin, C. (2001). The creation of actuarial science. Zentralblatt Für Didaktik Der Mathematik, 33(2), 61–66. doi:10.1007/bf02652740
  8. Lillevold, P., & Eyland, A. (2014). Actuary. Wiley StatsRef: Statistics Reference Online https://doi.org/10.1002/9781118445112.stat04400
  9. Lin, K. (2016.). Actuary Entrepreneur. Actuaries.Asn.Au. Retrieved from https://www.actuaries.asn.au/Library/Events/FSF/2016/LinEntrepreneur.pdf
  10. Marais, A. F. (2015). Teaching ethics to actuaries. Actuarial Society of South Africa’s 2015 Convention.
  11. O’Brien, C. D., et al. “The roles of actuaries in UK life offices: changes and challenges.” British Actuarial Journal 21.1 (2016): 134-164.
  12. Ogborn, M. E. (1956). The Professional Name of Actuary. Journal of the Institute of Actuaries, 82(2), 233– https://doi.org/10.1017/s0020268100046424

Loading

Post Views: 16

Download Full Paper

Download PDF No. of Downloads:5 | No. of Views: 14