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Old 02-11-2005, 10:27 PM
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Thumbs up Common Actuarial software

Hopefully this is in the right forum...

I'll be coming out of University this term with a degree in Actuarial Science, and I know how to use Gauss/Mathematica/Maple quite well, but doubt these are used in practice in the industry as they're just general computational software.

My question is, what is the more (or most) common actuarial software that is used by most corporate firms (in the life insurance branch in particular). Also is there any professional level training for these programs? Thanks all in advance.
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Old 02-11-2005, 10:56 PM
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Old 02-11-2005, 11:01 PM
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Actuarial specific sofware would include: TAS, MoSes, and PTS. I'm not sure experience with this software is necessary for an entry-level candidate. Your employer will likely provide what training you need for these apps. Proficiency in Excel, Access and VB will likely be more useful to you in an entry level position. Thats just my $0.02.

TAS training workshop:
http://www.towersperrin.com/tillingh...ng_2004_05.htm

MoSes training workshop:
http://www.towersperrin.com/tillingh...ining_2005.htm
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Old 02-12-2005, 01:09 AM
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Excel, VBA, AXIS...
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Old 02-12-2005, 01:48 AM
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Excel is a biggie. Access is #2.
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Old 02-12-2005, 02:27 AM
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Beyond Excel and maybe Access, many (insurance) companies use statistical software such as SAS, or S-Plus, R, or suchlike. I would consider these more along the lines of languages than just applications, though. In that category, perhaps the most useful for an entry-level actuarial type would be SQL, for data extraction and manipulation prior to presentation and perhaps superficial final calculation in an Excel or Access report.

I've heard on the board of something called @Risk, which I believe is a somewhat common life insurance app, but don't know the details.

Also, Claude will probably be along before long with links to past threads asking about this.
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Old 02-12-2005, 07:00 AM
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Also, APL continues to hang on in many companies because its vector-based sturcture works so well for many life insurance applications.

But I agree with the above; Excel, Access, and VBA to maximize their power are by far the most generally useful of the programs and languages. No matter where you work or for whom, you will use them.
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Old 02-13-2005, 08:59 PM
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Thank you all for your responses, and to those who gave links. It's appreciated.
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Old 02-13-2005, 09:04 PM
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Hang on to your Mathematica skills. I use a variety of tools, and am big fan of using Mathematica for testing ideas, deriving approximations to special functions, and validating results of other software.
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Old 02-14-2005, 10:49 AM
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It depends whether you are going to work in P&C or Life. If you work in P&C, SAS, etc is valuable. In Life, the packages are more useful. Working in Life, it again depends on where you are going to work. In Canada, Axis is the market leader. In US, PTS, TAS, Moses and ALFA are the big ones. If you work outside of North America, Prophet is the dominate system.
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