What to Expect in 2025: Health Actuarial Talent
Alicia Morris | VP, US Insurance
As we move into 2025, the health actuarial landscape is poised for significant transformation. With economic conditions stabilizing after a slowdown in 2024, the demand for skilled actuarial professionals is set to grow. Here’s what you can expect in the coming year:
Tailored Hiring
The recruitment slowdown of 2024 is behind us, and companies are gearing up for a strong recovery in 2025. Hiring will have an added focus on actuaries who can integrate seamlessly into a rapidly evolving healthcare market. The emphasis will be on tech-savvy actuaries with advanced analytics skills, capable of driving innovation and adapting to technology-driven changes. Organizations will be searching for talent that can harness the power of technology to support more data-driven decisions and address the complex challenges emerging within the healthcare sector.
Skill and Professional Development
The need for continual skill and professional development has never been more critical. As the actuarial profession evolves, those with expertise in data science, machine learning, and advanced programming will be in high demand. Proficiency in these areas will no longer be a “nice-to-have” but rather a requirement for those aiming to stay competitive. Actuaries that invest in their education and stay ahead of emerging trends will be better positioned to tackle the future challenges that the healthcare market presents. The importance of data-driven insights for decision-making is growing, and staying on top of the latest advancements in tech will be essential to thriving in the field.
Shared Duties and the Role of AI
The integration of AI into healthcare actuarial workflows is already in progress and is expected to continue expanding throughout the year. Actuaries remain essential in analyzing and interpreting data; however, the collaboration with AI is set to transform how these insights are generated and applied. AI will function as a valuable tool, augmenting professionals’ capabilities by improving the speed, accuracy, and depth of data analysis. It is crucial that the insights derived from AI are fully aligned with healthcare standards and regulatory requirements, ensuring they contribute to informed and compliant decision-making.
Retention in a Competitive Market
With the demand for health actuaries expected to rise, retention will be a focal point for employers. The competition for top talent will be fierce, and companies will need to refine their retention strategies. Attractive compensation packages, flexible work arrangements, and clear career advancement opportunities will be key to keeping professionals engaged. A supportive, forward-thinking environment that encourages growth and development will be a powerful tool in retaining the best actuarial talent. Organizations that can offer a compelling, values-driven culture will gain an edge in keeping their teams motivated and loyal.
Looking Ahead
2025 will be a year of exciting opportunities and challenges for health actuaries. The profession is on the cusp of significant change, driven by advancements in technology, data analytics, and evolving healthcare needs. For actuaries, the future is about embracing these changes and continuing to grow both technically and professionally. For employers, the focus will be on attracting and retaining the best talent to meet the demands of an increasingly complex healthcare market.
Actuarial professionals who are ready to adapt to these changes and invest in their ongoing development will be well-positioned to thrive in the evolving healthcare landscape. As we look to the future, the ability to blend technical expertise with strong communication and collaboration skills will define the success of both individuals and organizations in the health actuarial field.
Let’s get ready for an exciting 2025!