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The insurance sector accounts for around 0.7% of Pakistan’s GDP, highlighting substantial room for expansion, according to speakers at the Society of Actuaries’ Actuaries Connect event.
The Karachi event brought together hundreds of actuarial students, university faculty members and industry professionals from consulting, finance and insurance.
Speakers discussed career opportunities, industry challenges and the growing demand for actuarial expertise in Pakistan and international markets.
Zain Ibrahim, ASA, Regional Director for the Middle East, Africa and South Asia at the Society of Actuaries, said awareness of actuarial science remains limited.
He said students still lack sufficient information about the profession despite greater access to educational resources.
“The SOA is trying to change that by enabling students, faculties, and educational systems to know about the highly rewarding career that students can pursue as actuaries,” Ibrahim said.
He added that actuaries influence business decisions and government risk assessments in Pakistan and other markets.
Speakers said actuarial work now extends beyond traditional insurance functions.
Actuaries contribute to product development, risk assessment, life and health insurance, motor insurance, mergers and acquisitions, and climate-related planning.
Industrial expansion could create additional demand for risk specialists.
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Climate change also presents new challenges for insurers and businesses.
Meanwhile, artificial intelligence is changing routine actuarial work.
Speakers said AI could play a growing role in modelling, problem-solving and risk assessment.
Usama Dangra, President of the Pakistan Society of Actuaries, said the Society of Actuaries has remained a preferred credentialing body for Pakistani students for about two decades.
“This is a profession with a high potential in Pakistan,” Dangra said.
He also highlighted the broader skills that actuarial students develop during their professional training.
According to Dangra, actuaries can apply their analytical knowledge across STEM, finance and sociological frameworks.
Such cross-disciplinary skills can support careers beyond traditional actuarial roles.
The event also focused on professional qualifications available through the Society of Actuaries.
Sessions introduced students to the Associate of the Society of Actuaries (ASA) pathway and the Fellow of the Society of Actuaries (FSA) designation.
Industry professionals shared their career experiences through interactive sessions and demonstrations.
Zahny Almany, FSA, CERA, General Manager and Head of Actuarial Services and ERM at EFU Life Insurance, said professionals need knowledge beyond their core discipline.
“As an actuary, going beyond the actuarial sphere is a critical part of becoming a professional with a widespread impact,” Almany said.
He said exposure to business decisions and policy issues can help actuaries develop broader professional and cross-cultural knowledge.
The event also highlighted international opportunities for qualified actuaries.
SOA credentials have global recognition, with members working in Pakistan and international markets.
The Society of Actuaries is the world’s largest actuarial professional organisation, with more than 35,000 members worldwide.
Founded in 1949, the organisation provides professional education, research and standards for actuaries.
Its members work across areas including life and health insurance, retirement systems and enterprise risk management.
The SOA offers internationally recognised credentials, including the ASA and FSA designations.
For Pakistani students, speakers said the combination of local industry growth and international demand could broaden career opportunities in actuarial science.
[…] Insurance Growth Could Expand Actuarial Careers in Pakistan […]