As the second-largest insurance-linked securities (ILS) market in the world, Switzerland is a well-established and attractive insurance hub with 194 players in the market, including non-life insurers, re-insurers and life insurers that collectively share a premium volume of CHF 138bn. Zurich Insurance Group is Switzerland’s largest insurer and the world’s 91st largest public company, according to Forbes’ Global 2000s list.
Actuaries utilise mathematics, statistics, and theories of finance and risk to calculate and model the probability of future events. They develop creative solutions to mitigate negative outcomes and protect people and companies from potential harm. It is a good time to work in the actuarial field. Kyle Kensing, online editor at CareerCast, said actuaries “are a mainstay on the best jobs rankings, regularly appearing in the top ten professions to work.”
A report from the Institute and Faculty of Actuaries also suggests that the actuarial profession is continually growing and expanding. “Actuaries are still in short supply around the world and the demand for actuaries will continue to grow as the world expands into new territories, such as artificial intelligence. Actuaries will always be in demand because they are great risk managers and problem solvers.” The Swiss Association of Actuaries is the industry association for actuarial professionals and organisations in Switzerland.
Leading insurers and re-insurers are beginning to harness artificial intelligence and automation to gain a competitive advantage. Speaking at an event hosted by the Swiss Re Institute, AI pioneer Jürgen Schmidhuber discussed how insurance companies should apply artificial intelligence: “Large insurance companies should have a significant machine learning department, systematically going through all the potential use cases - and where it really makes sense, employ more people there – or maybe better, a start-up company specialized in that.”
Our consultants are specialists in their markets, recruiting top talent for organisations across the insurance and actuarial job markets throughout Switzerland and Europe.