The French Institut des actuaires (IA) and the Deutsche Aktuarvereinigung (DAV) bilaterally founded the Young Actuaries initiative in 2024 with an explicit European perspective. The overall objective is to create a broad network of actuarial associations that wish to intensify their interaction with young professionals. In addition to individual association projects that can serve as best practices and become visible across countries, innovative joint and exchange activities will be implemented to strengthen the cross-border connections of young professionals.
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The Institut des actuaires in France (IA) and the Deutsche Aktuarvereinigung (DAV) are two major European actuarial associations that regularly exchange expertise, analyze industry developments, and explore potential collaborative projects. In April 2023, a bilateral meeting sparked the idea of closely coordinating efforts on young actuaries and community building / career development.
Throughout 2023, the respective entities for young actuaries—IA Club Jeune Actuaire and the DAV Young Actuaries Network—were briefed on these initial plans and their ideas and preferences were sought. As a result, five central objectives for bilateral cooperation were established:
- Promotion of the Exchange of Young Actuaries:
- Encouraging collaboration and knowledge-sharing among young actuaries in Europe.
- Offering networking opportunities, conferences, and events where young professionals can learn from each other and connect.
- Strengthening and Facilitating Communication:
- Promoting effective communication channels within the young European actuarial community.
- Supporting open dialogue, idea exchange, and collaboration across borders.
- Highlighting the Role of Young Professionals on International Issues:
- Advocating for active involvement of young actuaries in global discussions.
- Recognizing their contributions to solving complex challenges such as climate change and digitalization/artificial intelligence.
- Promotion of the Actuarial Profession:
- Raising awareness about the actuarial field and its societal significance.
- Encouraging mathematically talented individuals to pursue a career in actuarial science.
- Showcasing the profession’s impact on risk management, insurance, and overall financial stability.
- Achievement of Equality Between Actuaries:
- Striving for equal opportunities, representation, and recognition regardless of age, gender, or background.
- Advocating for diversity and inclusion within the actuarial community.
Each association formed a steering committee to give shape to the initiative. The respective groups brainstormed the concept of introducing a session at Convention A entitled “The Actuary of the Future” as their first joint project. This session is scheduled for 20 March 2024, from 12:30 to 14:00.
During this time, young actuaries from France and Germany will delve into current hot topics, specifically sharing their expertise on the ‘S’ dimension of ESG criteria and exploring AI and data science. Following the success of this pilot project, a physical event format, to be determined, should be organised and other European actuarial associations will be explicitly invited to take part.