The profession of actuarial consultant
The actuarial consultant acts as an expert to help companies assess risks, optimize their financial strategies, or design tailored insurance products.
Working in a consulting firm, they provide expertise to a variety of clients (insurance, reinsurance, banks, companies). They use probabilistic models and mathematical tools or data science/artificial intelligence to anticipate future risks, calculate necessary reserves, or set fair prices.
The profession of actuarial consultant requires great precision, adaptability, and the ability to simplify technical concepts to help decision-makers make informed choices. They must stay updated on market practices, societal changes, regulations, and advanced techniques used in the field.
Role and responsibilities of an actuarial consultant
The actuarial consultant is an independent expert who analyzes financial and insurance data to help clients manage or model risks and design appropriate strategies.
They conduct actuarial audits, advise on capital and reserve management, and contribute to the design of insurance products based on market trends, regulations, and identified risks.

Daily tasks
On a daily basis, an actuarial consultant is expected to:
- Conduct audits and actuarial work related to insurance and financial risks.
- Design mathematical models to monitor and evaluate risks.
- Advise companies on risk management strategies, active capital, and reserves.
- Collaborate with management, finance, and underwriting teams to develop tailored solutions.
- Ensure scientific and actuarial practices comply with current regulations.
- Contribute to the implementation of risk management solutions for mergers and acquisitions or product innovation projects.
Salaries and career progression
At the start of their career, an actuarial consultant can expect a gross annual salary ranging from €40,000 to €60,000.
With experience, this salary can reach €120,000 to €150,000 or more for positions with greater responsibility. (source: survey by L'Actuariel magazine, No. 52 - April 2024)
Career progression can lead to positions such as senior consultant, team manager, or even director in consulting firms.

Required skills
- Strong skills in mathematics, probability, and statistics
- Expertise in modeling insurance and financial risks
- Skills in modeling and programming
- Knowledge of insurance regulations and accounting standards
- Interpersonal skills and the ability to work in a team
- Strong communication skills and the ability to simplify complex concepts
What studies are required to become an actuarial consultant ?
To become an actuarial consultant, a strong education in actuarial science, applied mathematics, or financial engineering is necessary.
A master's degree (bac+5) is typically required, along with expertise in risk modeling, finance, and insurance product management. Professional certifications can also be an asset for this type of position.
Training to Become an Actuarial Consultant at Université Paris Dauphine – PSL
Université Paris Dauphine-PSL offers tailored programs to become an actuarial consultant. The Master 2 Actuarial Sciences is a flagship program that provides the necessary skills in risk analysis, statistics, and finance.
This program trains experts capable of working in the insurance, finance, reinsurance, and consulting sectors. The program is accredited by the Institute of Actuaries, and the courses adhere to its Core Syllabus.