Demand for general insurance actuaries has boomed in recent years – and so has the flow of young talent into the industry.

In the 1980s there were half a dozen actuaries working for general insurers; now there are nearly 400, the Actuaries Institute’s general insurance seminar heard last month.

President Daniel Smith says the institute runs a program that sends volunteers to high schools to explain actuarial careers. They also attend universities, but by that point many students have decided on actuarial studies and want to talk about career opportunities.

An honours graduate can earn a starting salary of about $70,000, and entry scores to courses are high, both of which attract candidates.

Mr Smith told insuranceNEWS.com.au more than half the institute’s members are younger than 30. The institute runs young actuary programs, with networking events, leadership discussions and presentations from industry leaders.

Mr Smith says it is crucial to get younger members involved in conferences, seminars and working groups – as more than observers.

“They have a lot to contribute. They might lack experience but they don’t lack intelligence.”

He says actuaries have recently moved into the mining industry, with WA’s Curtin University setting up a program for them.

Mr Smith sees a rising number of job opportunities in life insurance and super, where demand is growing for young actuaries.