Deepak Jobanputra believes actuaries can move with great purpose in unexplored territories
It is highly encouraging to see a growing number of actuaries exploring wider fields and making an impact working in non-traditional roles. That is not to say that there is anything wrong with the more traditional areas of life assurance, pensions and investments. The value of our profession is in part driven by the many contributions we make to society and the reputation that we build over time.
This month we feature a number of members contributing and leading in areas that can and will have a positive impact on society ('Pioneering prospects', p30). Climate change, microinsurance and bridging the gap between banking, economics and actuarial science are just some of the topics covered.
Global issues such as the environment and changing demographics are well documented, and there are a wealth of views from specialists in these areas, yet solutions are still being hotly debated, which is unsurprising given their scale. This is where actuaries can add tremendous value - with the skills attained through our qualification system and the experience gained in assessing risk and considering the range of potential outcomes with associated probabilities.
We must not, however, be complacent and think that we have a territorial right in managing risk but instead look to complement other specialists in developing solutions for wider society. There are plenty of opportunities for actuaries to help shape the world of tomorrow and leave a long-lasting legacy for future generations - we often don't realise the power we have to change the world.
Talking of change, the position of arts editor at The Actuary has become vacant and would be perfect for someone with an interest in the arts who would like to turn their hand to a spot of journalism. We would be delighted to hear from you. Please contact me at the email address below for further information.