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Eames Consulting New York City Actuarial And Data Science Market Update
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USA Actuarial & Data Science Market Update 2023

  • Publish Date: Posted over 1 year ago
  • Author:by David Miles

“With two-thirds of chief economists expecting a worldwide recession in 2023, the global economy is in a precarious position.”​​

With a slowdown in the economy, “The Great Resignation” has begun to subside. Unsurprisingly, we saw a larger increase in actuaries starting a new position over the past 6-9 months. In addition, we have seen a lot of companies continuing to grow with many more opportunities across the market. ​

​With the worldwide recession looming, the market has started to anticipate this, with candidates becoming even more resistant to perceived risk. Hurricane Ian also brought huge losses to a lot of P&C insurance and reinsurance companies, with a large impact across catastrophe modelers. The typical candidate seems to be very concerned about the economy and about the stability of their jobs, which is understandable in such a climate; however, this has also seen candidates wait too long to make a decision – with key clients still hiring. However, there doesn’t seem to be a slowdown in hiring in the P&C actuarial space, and actuaries are still very much in-demand. ​

​Following in this report, we will share our thoughts on hiring and market trends, including;​

  • Skills-specific hiring trends based on pricing, reserving, CAT modeling, capital modeling and data analytics/science​

  • Market trends, including hybrid working, actuarial transformation, and D&I​​