Page 15 - Turkinsurance Digital Magazine

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The rate of Bachelor’s Degree in

Actuary and Insurance doubled within

10 years

Şirzat Çetinkaya, Vice President of Actuarial Society: “It will be beneficial to increase
the communication between the universities and market and to share the mutual
expectations for young people to choose the related fields”

Hello Mr. Şirzat, how do you interpret mand with the latest developments, for this point, I think there is a difference
the rate of graduates of insurance/ technical analysis getting more impor- between the market’s expectations from
actuary departments among the in- tant as a result of price competition... the graduates and the learning content
dividuals employed in the insurance Related necessity will increase in the fu- or curriculum of the education. We see
market? ture period and the companies’ demand that sometimes actuary graduates are not
on actuary graduates will also increase. taken into account during the evaluations
In actuary, as an approach, it is tried to for open positions. I think that it will be
get an answer by dividing the big question The actuary is one of the exceptional de-
into smaller parts and by analyzing each partments, which includes mathematics,
part with a reasoning approach. There- statistic, risk, accounting, and finance.
fore, I would like to answer your question So, I would like to add that actuary grad-
by dividing them into parts.
“We have set up an
Insurance is an area requiring special- applicant pool for graduates
ty and actuary is a department. In the so that we contribute to
last ten years, our universities started to
open both undergraduate and graduate employment”
programs in these fields. Currently, six
universities have undergraduate educa- uates do not look for jobs in just the in-
tion and six universities have graduate surance market anymore, they also apply
education. So that it is started to create and are employed in various areas such
supply to meet this demand. Let me ex- as software, financial investment com-
plain it in numbers; the actuary and in- panies, banking. This actually shows the
surance graduate rate was 4% 10 years wide range of actuary.
ago, however, this rate has reached 8%
with an increase twice as much, when it Especially the number of Actuary
comes to college graduates, we see a one graduates is low among the employees
and half increase from 20% to 30%. of the market. How do you interpret
the reason for this?
Absolutely, there are triggers for this
increase. For example, deepening in reg- The number of Actuary graduates is
ulations and containing more technical actually increasing in terms of employ-
details, rapid improvements in the liter- ment, however, it is obvious that it is low
ature, increase in risk measurement de- when compared to other departments. At