HCM CITY – As technology is the future, be naturally curious, observant and dedicated to mastering big data, and AI will help young people to become successful actuaries, experts advised.

The outlook for actuaries in Việt Nam is promising, with their role expanding across multiple industries beyond traditional insurance.

In the country’s rapidly evolving financial landscape, the actuarial profession is emerging as a cornerstone of innovation and stability. This unique profession, which stands out for its integration of mathematics, finance, and data analytics, is gaining traction among young professionals seeking rewarding careers that offer financial stability, intellectual challenge, personal fulfilment, and societal impact.

However, the country faces a shortage of qualified actuaries. 

Experts, however, think “that’s an opportunity.” 

“The demand for actuaries is robust across the Asia-Pacific region, with many countries striving to build and strengthen their actuarial workforce to meet the growing needs of their insurance markets,” said Phương Bá Chung, FSA, chairman of TC Advisors at Techcombank cum chairman Techcom General Insurance Company.

“Places like China, Korea, and Japan, which have ageing populations, insurance is a known necessity, creating a big impact. In Việt Nam, the population is younger, so people haven’t seen as strong a need for insurance yet, which shapes a different risk management culture,” he said. 

While the path to becoming an actuary wasn’t easy for Chung, it was worthwhile. 

He reflects on his start: “Though this industry wasn’t as attractive as banking, I saw it as a unique opportunity to use my math skills to solve challenges and add value to my personal life as well as society. But back then, there was not sufficient information or education about the profession.” 

However, he stressed the importance of " being proactive and responsible and documentingeverything you learn and do.”  

Sean Hsiang Kau, FSA, MAAA, Chief Risk Officer, Hanwha Life Insurance Company Vietnam, highlights data science and digital transformation across industries and believes actuaries will increasingly leverage machine learning and big data to innovate in Insurtech, longevity analytics and ESG.

“We’ll be strategic decision-makers in finance, technology, and sustainability. Our roles will be crucial to pricing, predictive analytics, modeling and management of financial, environmental and social risks, and much more.”

For Sean, being an actuary means solving real-world problems with creativity, rigour and impact. Actuaries are at the forefront of adaptability and growth as they help create financial security, shape industries, and drive innovation in a constantly evolving world. By actively sharing success stories and increasing the profession's exposure, he hopes to inspire more students to explore actuarial careers and build a pipeline of strong new talent.  

Sean’s advice is clear: “Master actuarial math, data analytics and AI, regulatory knowledge, and soft skills. Start early, stay persistent, and tap into study groups or resources from SOA, such as the affiliate membership, which provides free access to a robust digital library, events, and mentorship. It’s a long journey, but rewarding.”  

Sean advocates for structural support: “Universities and actuarial societies, for example, SOA, can promote awareness through career orientation activities, offering affordable and accessible resources, and integrating skills like Python into curricula. Students can also benefit from the support of their companies and communities, as well as mentorship.” 

Recommended resources include SOA’s exam prep tools, online courses and books on programming and data science. In Việt Nam, the University of Economics HCM City and the National Economics University now offer actuarial majors. -- VNS