I am Choi Mi-hwa who has enrolled the Department of Statistics and Actuarial Science in 2005.
I prepared for the actuarial exam during my undergraduate studies and passed the exam in 2011. I am currently working at the Actuarial Department of PCA Life, a British insurance company.
Let me briefly explain my work. First of all, I am conducting a liability adequacy test or LAT. LAT is the task of evaluating whether the actual amount of liability reserves accumulated by an insurance company is appropriate by evaluating the amount corresponding to the insurer's liabilities at the market price. I use an actuarial program called Prophet to calculate cash flows. Estimating future cash flows requires both actuarial and economic assumptions. I am responsible for calculating the claim assumption among actuarial assumptions. I am also in charge of verifying basic documents and closing claims.
Subjects related to actuarial science and statistics that I took while in university for 4 years helped me a lot for work in the actuarial field. In particular, our department has a well-established curriculum for becoming an insurance professional, so it was very helpful for me to prepare for the actuarial exam and get a job at an insurance company. I hope that you will become great actuaries in the future based on your active university life.