Insurance rating analyst to actuarial consultant
An insurance rating analyst already meets 48% of what the actuarial consultant role asks for. The move turns on 9 required skills not yet in the profile.
50.3/ 100
1 How much of what an actuarial consultant is expected to do is already part of an insurance rating analyst’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 actuarial consultant role is recorded as needing, required and optional together. What these numbers mean.
Why this move works
An actuarial consultant role treats 5 of its required skills as things an insurance rating analyst already does. You would walk in with these on day one.
- actuarial science
- advise on financial matters
- obtain financial information
- statistics
- synthesise financial information
What stands in the way is 9 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 20 skills that carry over, these are the ones fewest other occupations ask for. An actuarial consultant role needs them, and most people applying for one will not have them already. This is the part of an insurance rating analyst background worth leading with.
- already held insurance market business, administration and law
- already held analyse loans information skills
- already held analyse insurance risk information skills
- already held credit control processes business, administration and law
- already held consult credit score information skills
- already held insurance law business, administration and law
All 20 carried skills, including the 5 the actuarial consultant role treats as required.
Table 3 · What you may need to learn
The 15 missing skills fall into 6 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 analyse market financial trends required
- still to learn apply statistical analysis techniques required
- still to learn perform risk analysis required
- still to learn produce statistical financial records required
- still to learn provide support in financial calculation required
- optional, not held provide cost benefit analysis reports optional
- still to learn financial products required
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held types of pensions optional
- still to learn create a financial plan required
- optional, not held develop investment portfolio optional
- still to learn empirical analysis required
- still to learn quantitative analysis required
- optional, not held Monte Carlo simulation optional
Table 4 · Where to start
The 3 entries an actuarial consultant role is least likely to hire without. The ordering is computed from the skill data, not from what pays.
- 01 analyse market financial trends practise this
- 02 apply statistical analysis techniques practise this
- 03 create a financial plan 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 20 skills that carry over
- already held actuarial science knowledge
- already held advise on financial matters skill
- already held obtain financial information skill
- already held statistics knowledge
- already held synthesise financial information skill
- already held advise on risk management skill
- already held analyse financial risk skill
- already held analyse insurance risk skill
- already held analyse loans skill
- already held communicate with banking professionals skill
- already held consult credit score skill
- already held credit control processes knowledge
- already held debt systems knowledge
- already held examine credit ratings skill
- already held insurance law knowledge
- already held insurance market knowledge
- already held modern portfolio theory knowledge
- already held principles of insurance knowledge
- already held review investment portfolios skill
- already held types of insurance knowledge
6 supplementary skills, helpful but not required
- optional, not held Monte Carlo simulation optional
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held develop investment portfolio optional
- optional, not held provide cost benefit analysis reports optional
- optional, not held types of pensions optional
11 held skills the actuarial consultant role does not ask for
- not needed by the target role advise on credit rating skill
- not needed by the target role analyse financial performance of a company skill
- not needed by the target role apply credit risk policy skill
- not needed by the target role build business relationships skill
- not needed by the target role create cooperation modalities skill
- not needed by the target role create credit policy skill
- not needed by the target role create underwriting guidelines skill
- not needed by the target role forecast future levels of business skill
- not needed by the target role perform debt investigation skill
- not needed by the target role prepare credit reports skill
- not needed by the target role promote financial products skill
7 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 empirical analysis required
- still to learn financial products required
- still to learn quantitative analysis required
- optional, not held Monte Carlo simulation optional
- optional, not held banking activities optional
- optional, not held business loans optional
- optional, not held types of pensions optional
Common questions about this move
Can an insurance rating analyst become an actuarial consultant?
Yes, and it is a moderate move. An insurance rating analyst already covers 48% of what an actuarial consultant is expected to do: 20 skills carry over, 5 of which the actuarial consultant role treats as required.
What skills does an insurance rating analyst need to become an actuarial consultant?
9 required skills are missing, plus 6 optional ones. They fall into 6 areas of the ESCO skill hierarchy, led by information skills. The single most important is analyse market financial trends.
How hard is the move from insurance rating analyst to actuarial consultant?
Its learning distance is 50.3 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.