Starting a business as an actuary is an extremely attractive option. Firstly, there is a strong demand and stability. The skills of actuaries are always in demand in the insurance industry and financial markets. Particularly, due to their proficiency in data analysis and risk assessment, they can easily respond to the needs of clients. Additionally, this brings about the potential for high income, which can contribute to the growth of the business. The variety of career paths is also appealing, with options to work as an independent consultant or as a corporate risk manager.
On the other hand, there are also drawbacks that must be considered. Being an actuary can sometimes lead to a feeling of isolation surrounded by vast amounts of data. Especially for independent actuaries, working alone can enhance feelings of isolation. Moreover, the high number of stressful tasks can tend to increase mental and physical burdens. Furthermore, due to the specialized knowledge required, it’s important to note that there can be significant educational costs involved.

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