What is a product development actuary and how to become one

Key steps to become a product development actuary

1. Explore product development actuary education requirements

   Most common product development actuary degrees

   Bachelor's

   60.0 %

   Master's

   30.0 %

   Associate

   10.0 %

2. Start to develop specific product development actuary skills

   Skills	Percentages
   FSA	50.65%
   Administration System	14.45%
   SQL	13.07%
   Annuities	10.90%
   Life Insurance Products	6.15%

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3. Complete relevant product development actuary training and internships

   Accountants spend an average of 4-10 years on post-employment, on-the-job training. New product development actuaries learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a product development actuary based on U.S. Bureau of Labor Statistics data and data from real product development actuary resumes.

4. Research product development actuary duties and responsibilities

   • Manage design control including FMEA risk analysis, surgeon clinical input documentation, design verification and validation activities.
   • Generate nutrition information and ingredient statements for each product, according to FDA and international labeling regulations.
   • Design and develop aircraft seal devices through engineering analysis, prototyping, risk assessment and appropriate qualification testing with customer expectation.
   • Manage the design, implementation and oversight of all insurance and reinsurancepricing functions and processes for corporation.

5. Apply for product development actuary jobs

   Now it's time to start searching for a product development actuary job. Consider the tips below for a successful job search:

   1. Browse job boards for relevant postings
   2. Consult your professional network
   3. Reach out to companies you're interested in working for directly
   4. Watch out for job scams