Check GMAT Club Decision Tracker for the Latest School Decision Releases https://gmatclub.com/AppTrack

 It is currently 29 May 2017, 21:46

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# Risk management

Author Message
TAGS:

### Hide Tags

Senior Manager
Joined: 15 Jul 2006
Posts: 381
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

16 Mar 2007, 13:23
Does anyone know anything about careers in catastrophy modeling for insurance companies or similar?
Manager
Joined: 07 Jan 2006
Posts: 133
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

16 Mar 2007, 13:32
There are generally departments within insurance companies who run and analyze catastrophe data and decide how much risk/exposure a company/business unit can take. A common position is Catastrophe Analyst, where you'd work as part of a team and be responsible for a specific segment or territory. Many of these people have taken a few actuarial exams, and also posiibly working on obtaining the ARM designation. If you want to eventually become a "bigwig" in the insurance industry, this type of position will help. An MBA is not required, but can definitley help if you want to move past the analyst title and become more than just a number cruncher.

Last edited by MoonShine on 16 Mar 2007, 13:42, edited 1 time in total.
GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Followers: 321

Kudos [?]: 2085 [0], given: 7

### Show Tags

16 Mar 2007, 13:38
MoonShine wrote:

Yea I got one... Is it as tedious a job as it sounds like?

"hey moonshine!"
"Yea?"
"Monsanto is taking a break from being the world's most evil company and is shipping some pigs from Asia to the US. We need a total loss quote."
"Ok, I'll crunch some numbers."
"Thanks"

later that day

"Yea, I crunched the numbers. The tanker and pigs should run em bout $14,250" "Thanks. Hey, Monsanto has also decided to buy a hotel property in the keys. They need full liability coverage. Get them on the horn and sort it." "OK" later ... "How many stairs are there? How many elevators? How many floors? Is there a hospital within 5 miles? How about a fire station? Do you have emergency lighting?" later on that day "Hey yea, it'll be about$650K per year to insure it."
"Thanks."

Senior Manager
Joined: 15 Jul 2006
Posts: 381
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

16 Mar 2007, 13:43
MoonShine wrote:

Awesome! well anything you can share would be much appreciated. To me it actually sounds kinda cool but I never met anyone who did anything like that so I'm just interested in learning more about it. They emply similar models in healthcare industry as well, right?
Manager
Joined: 07 Jan 2006
Posts: 133
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

16 Mar 2007, 13:44
Rhyme,

Yes, it is very tedious.

rhyme wrote:
MoonShine wrote:

Yea I got one... Is it as tedious a job as it sounds like?

"hey moonshine!"
"Yea?"
"Monsanto is taking a break from being the world's most evil company and is shipping some pigs from Asia to the US. We need a total loss quote."
"Ok, I'll crunch some numbers."
"Thanks"

later that day

"Yea, I crunched the numbers. The tanker and pigs should run em bout $14,250" "Thanks. Hey, Monsanto has also decided to buy a hotel property in the keys. They need full liability coverage. Get them on the horn and sort it." "OK" later ... "How many stairs are there? How many elevators? How many floors? Is there a hospital within 5 miles? How about a fire station? Do you have emergency lighting?" later on that day "Hey yea, it'll be about$650K per year to insure it."
"Thanks."

Manager
Joined: 07 Jan 2006
Posts: 133
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

16 Mar 2007, 13:49
Yes, they do have similar models in healthcare.

EconGirl wrote:
MoonShine wrote:

Awesome! well anything you can share would be much appreciated. To me it actually sounds kinda cool but I never met anyone who did anything like that so I'm just interested in learning more about it. They emply similar models in healthcare industry as well, right?
GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Followers: 321

Kudos [?]: 2085 [0], given: 7

### Show Tags

16 Mar 2007, 13:54
MoonShine wrote:
Rhyme,

Yes, it is very tedious.

Yea, but Catastrophe Analyst has to be the coolest title yet.
Senior Manager
Joined: 05 Mar 2006
Posts: 348
Followers: 1

Kudos [?]: 12 [0], given: 0

### Show Tags

16 Mar 2007, 14:54
Agreed

rhyme wrote:
MoonShine wrote:
Rhyme,

Yes, it is very tedious.

Yea, but Catastrophe Analyst has to be the coolest title yet.
Manager
Joined: 07 Jan 2006
Posts: 133
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

16 Mar 2007, 15:11
You may also want to type in "Catastrophe Analyst" in monster. This should give you an idea about what it's all about. Lot of these positions prefer a statistics heavy concentration and actuarial exams.
GMAT Club Legend
Affiliations: HHonors Diamond, BGS Honor Society
Joined: 05 Apr 2006
Posts: 5926
Schools: Chicago (Booth) - Class of 2009
GMAT 1: 730 Q45 V45
Followers: 321

Kudos [?]: 2085 [0], given: 7

### Show Tags

16 Mar 2007, 17:29
MoonShine wrote:
You may also want to type in "Catastrophe Analyst" in monster. This should give you an idea about what it's all about. Lot of these positions prefer a statistics heavy concentration and actuarial exams.

I just vomited.
Manager
Joined: 08 Feb 2007
Posts: 82
Followers: 1

Kudos [?]: 1 [0], given: 0

### Show Tags

20 Mar 2007, 10:44
rhyme wrote:
I just vomited.

I will have echo rhyme's sentiment... I did an internship with AON and worked in my schools Risk Management and Decision Process Center during the year... thought I was going to do actuarial stuff after graduation.. and turned down the job because (at least the actuarial side) didn't offer enough variety.

There are cool positions e.g. with Mercer/MOW that are more Risk Management consulting and are MBA route rather than actuarial. You will work for the same companies (AON/Marsh) but the work is much more interesting.

Bottom line.. avoid exams at all costs
Director
Joined: 28 Jun 2006
Posts: 958
Followers: 1

Kudos [?]: 81 [0], given: 0

### Show Tags

21 Mar 2007, 05:38
I know some really smart people who have struggled to pass those actuarial tests. Some really incredibly tough quant stuff.
Manager
Joined: 07 Jan 2006
Posts: 133
Followers: 1

Kudos [?]: 2 [0], given: 0

### Show Tags

21 Mar 2007, 06:05
A friend of mine is on his 5th test. He has a set study schedule for each one; 34 hours/week (4hr per weekday, 7 hours on Sat & Sun) - for 3-4 months straight. I say definitley try avoid taking these tests at all costs.
SVP
Joined: 24 Aug 2006
Posts: 2130
Followers: 3

Kudos [?]: 145 [0], given: 0

### Show Tags

21 Mar 2007, 07:28
I thought of pursuing a career in actuarial science. I think the lifestyle (hours/stress/etc) is pretty good, but for what they do and all the testing they go through, they are vastly underpaid.
Senior Manager
Joined: 30 Aug 2006
Posts: 374
Followers: 3

Kudos [?]: 68 [0], given: 0

### Show Tags

21 Mar 2007, 09:59
There is a guy at the IB i work at with the job title Chief Philanthropy Officer - my favorite! Giving away the banks money
21 Mar 2007, 09:59
Similar topics Replies Last post
Similar
Topics:
FX risk - Impact on International Students 3 16 Mar 2015, 12:13
Letters of recommendation - Hedging "risk" 3 16 Nov 2009, 17:15
4 Management Consulting Salaries 3 28 Jan 2009, 10:49
General management 3 18 May 2008, 12:40
Recommendation Letters - Risk of not using current employer? 4 28 Apr 2008, 19:21
Display posts from previous: Sort by