Effective law in Estonia requires each insurance provider to have a responsible actuary. The responsible actuary is required to have academic education, actuarial knowledge and qualification meeting international requirements and three years of work experience as an actuary in an insurance provider in Estonia or the EU. In addition, upon the conduct of external audit, the auditor of an insurance provider has to involve an actuary with actuarial knowledge and qualification meeting international requirements and at least three years of work experience as an actuary in Estonia or the EU.

In its documentation the EAS links actuarial qualification requirements to the membership status in the organization. In order to obtain the status of a full member in the EAS, the candidate is required to have completed the whole program of actuarial education, to have higher education and at least two years of actuarial work experience. Supervision over the compliance of candidates with the qualification requirements is the responsibility of the educational committee of the EAS.

The EAS program of actuarial education meets modern international requirements. The program structure is hierarchical and the membership status is directly linked to the scope of advancement of actuarial education program. The EAS program of actuarial education can be broadly divided in two – the level of base education and the level of general applications of insurance and financial mathematics.

The level of base education comprises base courses of mathematics, probability theory, mathematical statistics, incidental processes, computer science, economic sciences and accounting. The courses are complemented by the requirements on communication skills, foreign languages and knowledge of institutional structures of the EU and Estonia. These subjects are expected to be mastered during the completion of higher education. Base knowledge of insurance and financial mathematics can also be obtained by completing different degree-level courses. Upon the completion of base education the candidate can apply for the status of the EAS associate member.

In order to apply for full membership, the candidate is additionally required to have completed the level of general applications of insurance and financial mathematics, which aims at deepening respective base knowledge and application of actuarial techniques in different fields and scopes. Separate consideration is given to the management of actuarial risks in life assurance, insurance against loss and damage, pension and health insurance.