Name: Jen Ming Yap
Occupation: Actuarial Executive
Company: NTUC Income Insurance Co-operative Limited

Why did you choose to study at Institute and Faculty of Actuaries (IFoA)?

The IFoA is one of the most prestigious and widely-recognised actuarial body in the actuarial world. Upon obtaining the qualification from IFoA, it will open up many doors of opportunity in my career ahead.

It also offers exemptions from its professional exams, depending on whether the university degree programme has an agreement with it. It was this agreement that I found very attractive when I was picking my bachelor degree. I took actuarial science at Nanyang Technological University (NTU).

The IFoA provides a lot of support to its student members, in both academic and administrative matters. In fact, the online portal is so resourceful that I could essentially get all the support I need from the portal itself.

Why did you choose your particular subject/programme?

Actuarial science involves many interrelating subjects, for example, mathematics, statistics, economics, finance as well as computer programming. I have always had a passion in statistics and computer programming. I also have strong interest in finance too! Naturally, actuarial science was very interesting to me so I decided to pursue my studies in this subject.

How do you think studying your UK programme will benefit you in the future?

There is a lot of market demand for qualified actuaries and the qualification from IFoA will definitely help in my career development. I believe it will also open up the opportunities for me internationally.

The IFoA examinations are very challenging and involves extensive amount of deep thinking. It equips me with skills to develop a solid and effective thought process. This is extremely helpful in solving problems/challenges that I face in life, whether it is work-related or personal matters.

Name: Yijing Xie
Occupation: Actuarial Analyst
Company: Taiping General Insurance Company Ltd

Why did you decide to study actuarial science?

I wanted to choose a postgraduate course in which I could use my mathematical skills. I chose to study this subject because I was really interested in actuarial science and because of the developments of the insurance industry in China.

Why did you choose to undertake actuarial science at the Central University of Finance and Economics (CUFE)?

I studied my undergraduate degree at CUFE. The actuarial course at CUFE is one of the best in China, so I decided to continue studying there for my postgraduate degree.

Because of the links CUFE has with the IFoA, a lot of my peers choose to participate in the IFoA exams; although many joined the Society of Actuaries (SOA) in the USA. In China, the IFoA and SOA are viewed as the two major actuarial institutions in the world. I think the two systems are quite different in terms of training actuaries. The IFoA’s emphasis is on the practical side of work and how to solve problems at a high level, whist the SOA focuses more on the details and steps to work out a particular actuarial question.

I feel I can benefit more from studying the IFoA exams, which have prepared me to think more broadly when solving a problem at work. It’s always easy to repeat a task but it is also very important to have the skills to think on the ground when you come across a new problem. So, I am glad that I have chosen the IFoA exams; although the exams are more challenging!

How did your degree prepare you for your career?

I am now working in the actuarial department of Taiping General Insurance Company Ltd, which is one of the biggest general insurance companies in South East Asia. In my postgraduate degree I really exceled in my exams, which as a result, offered me lots of opportunities when I left university. All the actuarial concepts, theories, techniques, models and ideas that I learned during my degree prepared me for the practical work I am doing now. Also, the support that the IFoA offered, such as the regular seminars, helped me to keep up to date with the industry both in China and the UK.

Why did you decide to study actuarial science?

I wanted to choose a postgraduate course in which I could use my mathematical skills. I chose to study this subject because I was really interested in actuarial science and because of the developments of the insurance industry in China.

Why did you choose to undertake actuarial science at the Central University of Finance and Economics (CUFE)?

I studied my undergraduate degree at CUFE. The actuarial course at CUFE is one of the best in China, so I decided to continue studying there for my postgraduate degree.

Because of the links CUFE has with the IFoA, a lot of my peers choose to participate in the IFoA exams; although many joined the Society of Actuaries (SOA) in the USA. In China, the IFoA and SOA are viewed as the two major actuarial institutions in the world. I think the two systems are quite different in terms of training actuaries. The IFoA’s emphasis is on the practical side of work and how to solve problems at a high level, whist the SOA focuses more on the details and steps to work out a particular actuarial question.

I feel I can benefit more from studying the IFoA exams, which have prepared me to think more broadly when solving a problem at work. It’s always easy to repeat a task but it is also very important to have the skills to think on the ground when you come across a new problem. So, I am glad that I have chosen the IFoA exams; although the exams are more challenging!

How did your degree prepare you for your career?

I am now working in the actuarial department of Taiping General Insurance Company Ltd, which is one of the biggest general insurance companies in South East Asia. In my postgraduate degree I really exceled in my exams, which as a result, offered me lots of opportunities when I left university. All the actuarial concepts, theories, techniques, models and ideas that I learned during my degree prepared me for the practical work I am doing now. Also, the support that the IFoA offered, such as the regular seminars, helped me to keep up to date with the industry both in China and the UK.