The Solution-Providing Culture

Daniel Mutuku, 06/09/2009

That the actuarial profession is attached to the way of life of solving problems is of immense importance. All along these problems have ranged from knowing the amount of reserve needed to sustain a cover of cohort of lives to the value of payments needed for insurance services. The underlying silent attribute is risk.

While analysing the problems encountered, it is of salience to note that they come with dynamism. Experience always has a constant: change. As members of this profession, we are thence called upon to have a readiness that is required for such many a challenge. Our primary goal is to find solutions. Thats our driving force. Thats our purpose. To fulfil this obligation clearly necessitates expertise and experience in actuarial workings.

Since change is constantly present, new and better methods of analysing, measuring and mitigating risk are a must. More players are also required
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as a response to the growth of this service sector. This basically implies that actuarial education needs sufficient input to ensure the survival and growing relevance of the trade. Any new titbit of knowledge has to be shared, recorded, for the use of others and generations to come. Those of us already in the profession have a responsibility of passing down this knowhow to our eventual successors. Based on this more and better actuarial techniques will be developed that are fitting for the future.

Kenya does have a high growth potential with regard to the actuarial sector. Testimony to this is the increase in the uptake of financial services across the board. New and nuanced financial products such as customized insurance services are being developed and issued out. The public has also queried on what we do. Our response must to be there, standing by to meet these needs. To develop tailored actuarial-based services for the occasion-at-hand and to increase our numbers to sufficiently meet demand for our unique skill.

It is thus that we are to find for the profession a niche that is ever-growing, and solution-driven...made appropriate for the nation of Kenya.

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