Actuarial assistant to insurance risk consultant
An actuarial assistant already meets 48% of what the insurance risk consultant role asks for. The move turns on 6 required skills not yet in the profile.
51.8/ 100
1 How much of what an insurance risk consultant is expected to do is already part of an actuarial assistant’s work. Directional: the figure for the reverse move differs, because moving into a speciality is not the same problem as moving out of one. 2 Every skill the insurance risk consultant role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An insurance risk consultant role treats 8 of its required skills as things an actuarial assistant already does. You would walk in with these on day one.
- actuarial science
- analyse financial risk
- analyse insurance risk
- insurance law
- obtain financial information
- perform risk analysis
What stands in the way is 6 required skills the profile does not yet cover. Table 3 groups them; Table 4 says which to take first.
Table 2 · What you already bring
Of the 13 skills that carry over, these are the ones fewest other occupations ask for. An insurance risk consultant role needs them, and most people applying for one will not have them already. This is the part of an actuarial assistant background worth leading with.
- already held compile statistical data for insurance purposes information skills
- already held calculate insurance rate information skills
- already held create insurance policies communication, collaboration and creativity
- already held analyse insurance risk information skills
- already held insurance law business, administration and law
- already held principles of insurance business, administration and law
All 13 carried skills, including the 8 the insurance risk consultant role treats as required.
Table 3 · What you may need to learn
The 19 missing skills fall into 5 areas of the ESCO skill hierarchy, numbered in the order worth working in. Areas carrying the most required skills come first, and inside each one the required skills sit above the optional ones. Nothing here is a verdict on you: it is a list of what this particular job asks for that your current one does not.
- still to learn conduct financial surveys required
- still to learn estimate damage required
- still to learn advise on risk management required
- optional, not held collect property financial information optional
- optional, not held create risk maps optional
- optional, not held create underwriting guidelines optional
- optional, not held produce materials for decision making optional
- optional, not held review insurance process optional
- optional, not held perform debt investigation optional
- optional, not held provide support in financial calculation optional
- optional, not held synthesise financial information optional
- still to learn risk identification required
- optional, not held claims procedures optional
- optional, not held debt systems optional
- optional, not held modern portfolio theory optional
- still to learn prepare survey report required
- still to learn survey techniques required
- optional, not held decide on insurance applications optional
- optional, not held organise a damage assessment optional
Table 4 · Where to start
The 3 entries an insurance risk consultant role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 conduct financial surveys practise this
- 02 estimate damage practise this
- 03 advise on risk management practise this
Each entry opens a course search for that skill. Career Overlap earns nothing from these links.
Appendix · The rest of the record
All 13 skills that carry over
- already held actuarial science knowledge
- already held analyse financial risk skill
- already held analyse insurance risk skill
- already held insurance law knowledge
- already held obtain financial information skill
- already held perform risk analysis skill
- already held principles of insurance knowledge
- already held types of insurance knowledge
- already held apply statistical analysis techniques skill
- already held calculate insurance rate skill
- already held compile statistical data for insurance purposes skill
- already held create insurance policies skill
- already held statistics knowledge
13 supplementary skills, helpful but not required
- optional, not held claims procedures optional
- optional, not held collect property financial information optional
- optional, not held create risk maps optional
- optional, not held create underwriting guidelines optional
- optional, not held decide on insurance applications optional
- optional, not held produce materials for decision making optional
- optional, not held review insurance process optional
- optional, not held debt systems optional
- optional, not held modern portfolio theory optional
- optional, not held organise a damage assessment optional
- optional, not held perform debt investigation optional
- optional, not held provide support in financial calculation optional
- optional, not held synthesise financial information optional
11 held skills the insurance risk consultant role does not ask for
- not needed by the target role advise on insurance policies skill
- not needed by the target role analyse market financial trends skill
- not needed by the target role carry out statistical forecasts skill
- not needed by the target role consult credit score skill
- not needed by the target role examine credit ratings skill
- not needed by the target role financial markets knowledge
- not needed by the target role insurance market knowledge
- not needed by the target role produce statistical financial records skill
- not needed by the target role provide cost benefit analysis reports skill
- not needed by the target role risk management knowledge
- not needed by the target role statistical analysis system software knowledge
5 gaps that are knowledge rather than practice
Knowledge gaps usually close through study. Practical skill gaps usually need something you can point at.
- still to learn risk identification required
- still to learn survey techniques required
- optional, not held claims procedures optional
- optional, not held debt systems optional
- optional, not held modern portfolio theory optional
Common questions about this move
Can an actuarial assistant become an insurance risk consultant?
Yes, and it is a moderate move. An actuarial assistant already covers 48% of what an insurance risk consultant is expected to do: 13 skills carry over, 8 of which the insurance risk consultant role treats as required.
What skills does an actuarial assistant need to become an insurance risk consultant?
6 required skills are missing, plus 13 optional ones. They fall into 5 areas of the ESCO skill hierarchy, led by information skills. The single most important is conduct financial surveys.
How hard is the move from actuarial assistant to insurance risk consultant?
Its learning distance is 51.8 out of 100, which is the moderate band. That accounts for both how much is missing and how specialised those skills are.
How this record was compiled
Both occupations are taken from ESCO, which lists the skills and knowledge each occupation is expected to have and marks every one required or optional. Nothing here is a prediction about hiring, and nothing here knows that a particular employer wants a particular certificate. Treat Table 3 as a starting point for your own research rather than a syllabus. The full method states what these figures can and cannot tell you.