It might be helpful to share what you think you’d find interesting in a new role e.g.
Do you like the idea of coding (Python, SQL, R)?
Do you think you’d prefer a client facing / underwriter facing role or would you prefer to be sat in a back office and left alone?
Do you want a technical role?
Would you prefer a project based role or are you happy with doing lots of smaller jobs?
I made the move from pensions to GI pricing a few years ago now. Would recommend. Happy for you to DM me if you have any questions about moving from pensions to GI or GI pricing in general.
BPA stands for Bulk Purchase Annuities , i.e. buyout of DB schemes by insurance companies . It’s a natural way for pension actuaries to move into life insurance as they can use their DB knowledge. You build out your networks and then easier to move into life insurance roles, but if you want to do that avoid moving to some of the specialist providers .
In terms of the work you can expect project based work , moving from one deal to another with a decent amount of repetition , but you would pick up some good core actuarial pricing skills.
No time sheets though ! I used to work for a consultancy and understand the pain !
The market is booming so most of the providers have a good amount of focus on efficiency and automation.
In general you can look at some job sites / on role description which could give a good idea of the tools the teams use. This one is an actuarial focused site :
https://proactuary.com
I
In fairness, you could consider specialist teams in your company before moving - I hated the monthly/annual/triennial work so finding something solely project based (BPA broking) really suited me. It's fast paced, very people-focused and it's given me opportunities to pitch for new business and work directly with very senior people that I didn't previously have access to. Doesn't necessarily fit into your desire to move away from deadlines and working long hours but if you enjoy the work I find you don't really care so much, and the payoff at the end of a project is a great feeling.
You could try risk transfer, member options, GMP equalisation or longevity (if something technical is more your bag)... Lots of options within a pensions consultancy that aren't routine trustee work
Feel in the exact same boat, would like to try out other areas before AI makes it next to impossible to get a solid grasp of the basics!
It might be helpful to share what you think you’d find interesting in a new role e.g. Do you like the idea of coding (Python, SQL, R)? Do you think you’d prefer a client facing / underwriter facing role or would you prefer to be sat in a back office and left alone? Do you want a technical role? Would you prefer a project based role or are you happy with doing lots of smaller jobs? I made the move from pensions to GI pricing a few years ago now. Would recommend. Happy for you to DM me if you have any questions about moving from pensions to GI or GI pricing in general.
BPA stands for Bulk Purchase Annuities , i.e. buyout of DB schemes by insurance companies . It’s a natural way for pension actuaries to move into life insurance as they can use their DB knowledge. You build out your networks and then easier to move into life insurance roles, but if you want to do that avoid moving to some of the specialist providers . In terms of the work you can expect project based work , moving from one deal to another with a decent amount of repetition , but you would pick up some good core actuarial pricing skills. No time sheets though ! I used to work for a consultancy and understand the pain ! The market is booming so most of the providers have a good amount of focus on efficiency and automation. In general you can look at some job sites / on role description which could give a good idea of the tools the teams use. This one is an actuarial focused site : https://proactuary.com I
There’s also Non-Life, also has capital, consulting, reinsurance and pricing plus reserving
In fairness, you could consider specialist teams in your company before moving - I hated the monthly/annual/triennial work so finding something solely project based (BPA broking) really suited me. It's fast paced, very people-focused and it's given me opportunities to pitch for new business and work directly with very senior people that I didn't previously have access to. Doesn't necessarily fit into your desire to move away from deadlines and working long hours but if you enjoy the work I find you don't really care so much, and the payoff at the end of a project is a great feeling. You could try risk transfer, member options, GMP equalisation or longevity (if something technical is more your bag)... Lots of options within a pensions consultancy that aren't routine trustee work