He didn’t even know what an actuary was and that’s exactly where he found his professional home. In the Paul the Insurer podcast, Rubin Nova explains why he decided to become an actuary and why this profession is more relevant today than ever.
When Rubin Nova began his studies, he had a clear but broad plan: finance and accounting. He was fascinated by economics, analysis and the dynamics of the financial markets. Above all, however, his studies offered many career options, which was a decisive argument. At the time, he had no idea that this path would one day lead him into a highly specialized niche.
A year abroad in Monterrey, Mexico, was the turning point. There, shortly before graduating, the word “actuary” came up for the first time in a conversation with a friend. Until then, it had not been a tangible profession for him, more of an abstract concept.
The discovery of actuarial science
Curiosity became research and research became enthusiasm. Statistics, risk modeling, financial analysis, programming: the actuarial science curriculum combined precisely those disciplines that interested him anyway. Particularly convincing was a promise that hardly any other degree course makes: almost complete employability.
Nova quickly realized that actuaries do much more than calculate insurance premiums. They model risks, ensure the solvency of companies and provide a data-based basis for decision-making. The result: a Master’s degree in Actuarial and Financial Sciences in Madrid.
Why actuaries are in such demand
During my studies, it became clear why actuaries are in short supply on the job market. On the one hand, there are only a few specialized specialists, and on the other, their field of work is not limited to insurance companies or banks. Nova got involved early on, founded an alumni association with fellow students and built up a network that now connects hundreds of actuaries across generations.
At the same time, he gained practical experience in non-life insurance, pension systems and specialized consulting. The variety of tasks – from pricing and reserves to solvency issues, mergers and product development – made one thing clear: boredom is out of the question in this profession.
More than numbers: strategic relevance
As his professional experience grew, Nova recognized the strategic importance of his profile. Actuaries not only influence technical results, but also the sustainability of entire business models. They analyze data, assess inherent risks and translate complex results for management, committees and boards of directors.
The move to a telecommunications group opened up another chapter. At first glance, actuarial science and telecommunications seem to have little in common – in practice, however, a variety of risks come together here.
New risks, new perspectives
Today’s day-to-day work involves far more than traditional insurance issues. Climate risks such as floods or earthquakes, damage to submarine cables and satellites, cyber and regulatory risks, but also biometric risks and capital investments are all part of it. Nova is involved in investment committees, works on venture capital initiatives in the insurtech environment and presents analyses directly to top management and the Board of Directors.
The actuary is not an assistant here, but a co-creator of strategy.
A profession with a social impact
For Rubin Nova, one thing is clear: being an actuary is not about filling Excel spreadsheets. It is a versatile, dynamic profession with an impact in insurance, finance, healthcare, technology, sustainability and energy.
His appeal to undecided people is clear: do your research, ask questions, look behind the job titles. Because actuarial science is not just a world of formulas. They help to understand risks, take responsibility and help shape a more stable, fairer future.
Binci Heeb
Paul the Insurer has other content that may interest you, such as the series of interviews with insurance industry executives.
Read also: Paul the Insurer 3: Insurance for the solo economy
Search:
Sponsors:
