The future of
actuarial science
Actuaries have a unique set of skills that allows them to work in new and exciting areas, in addition to being important contributors at some of Canada’s most essential businesses and organizations. Being an actuary gives you the opportunity to shape the future.
What being an actuary means
Being a professional actuary involves:
Employing a set of core skills that include math and analytical skills, risk management, communications, finance and business, and good judgement
Using sophisticated predictive modelling techniques to help businesses anticipate the likelihood of future events and be ready for them.
Protecting the Canadian public in areas including climate change, investments, business risk management, preventing worst case scenarios, and designing sustainable health care.
Comparing to other careers
How does being an actuary stack up against some other careers you could choose?
 Actuary |
 Math teacher |
 Accountant |
 Software developer |
 Influencer |
|
| High starting salary | |||||
| Real job security | |||||
| Good work-life balance | |||||
| Post-secondary degree required | |||||
| Follow and report on trends | |||||
| Get likes and followers | |||||
| Easy to explain to your parents | |||||
| Potentially good career choice |
How do I become an actuary?
To become an actuary, you need to have a plan that includes studying math. The typical path to becoming an actuary looks like:
1. Choosing math in high school
To become an actuary, you need math credits like Grade 12 algebra and calculus.
TIP
Math requirements vary by province or territory. Find out what courses are needed where you live.
Learn how girls are preparing for the future through the power of math
2. Earning your degree
Study actuarial science in university.
TIP
Attend a CIA accredited university actuarial science program, enrol with the CIA as a Student member and choose co-op programs and work placements to gain valuable experience.
3. Getting qualified
Engage with the CIA to continue your path to qualification as a Fellow of the Canadian Institute of Actuaries (FCIA).
TIP
Start writing CIA exams, learn what it means to be a professional actuary, what career opportunities exist, and how you can contribute to society.
Accredited universities
The CIA recognizes actuarial science programs across Canada. These include:
- Concordia University
- Simon Fraser University
- Université de Montréal
- Université du Québec à Montréal (UQAM)
- Université Laval
- University of Calgary
- University of Manitoba
- University of Regina
- University of Toronto
- University of Waterloo
- University of Western Ontario
Explore the world of risk
Chat with AI to see how the risks involved in what you care about relate to the problem solving actuaries do with math.
How is the profession going to change with AI?
As we’ve mentioned, the future is uncertain. But it is likely that artificial intelligence will impact the actuarial profession in some of the following ways:
Automation
AI-powered tools can automate repetitive tasks like data entry, data cleaning, and data analysis. This could free up actuaries to focus on more complex tasks.
Accuracy
AI can analyze vast amounts of data and identify patterns and trends that humans might miss. This could lead to more accurate predictions of risk and uncertainty.
Opportunities
Actuaries could play a critical role in evaluating the risks associated with emerging AI-enabled technologies such as blockchain, Internet of Things, and autonomous vehicles.
AI is a tool that actuaries can use in their work. People and their judgment will always be essential to improving the lives and financial security of Canadians – these skills are exactly what actuaries bring to the table.
CIA membership
Becoming a member of the Canadian Institute of Actuaries makes you part of the well-respected community of Canada’s actuaries. Become a Student member while enrolled at an accredited university, then you can pursue your Associate (ACIA) and Fellow (FCIA) designations to show potential employers and clients that you are committed, connected, and qualified to offer actuarial expertise in Canada.
The CIA education system
Are you thinking about studying actuarial science? The CIA’s flexible education and qualification system gives you a lot of options.
