What is the difference between working for a consultancy and an insurance company?
Although there are many opportunities available to actuaries, generally actuarial trainees start working for either an insurance company office or a consultancy firm. Having decided on a career as an actuary, you ought to contrast and compare the opportunities offered by the life, non-life and pensions companies, as well as the consultancy firms. These opportunities offer different lifestyles and challenges. Working in an insurance company environment means that there is usually only one client; your employer. Variety of work is available but tends to come more slowly – often you’ll be asked to work in one area for a period of about one year before moving on to the next challenge, taking the experience you have gained with you. The day-to-day work within consultancy firms tends to be more varied, as in any year you are likely to work for a number of different clients (and partners) solving different types of problems. This can become particularly challenging if you have a number of pro
