Any insights into barriers to entry?

Seems like the work might get boring, right?

Other commenter is right that a Bachelors and passing the exams are required. The work certainly does get boring, but is extremely stable with, usually, excellent work life balance. It's very possible (in the US) to spend ~7 years working/studying to pass the exams and now you can make 150-200k USD/year while averaging 35 hours week for the remainder of your career.

One major difference in comparison to software is the extremely long project timelines. Loss model refits/remodels are planned years in advance, it can easily take 6 months back and forth waiting on states to respond to filings, etc.

Wow, thanks for the info, $150k-200k sounds nice

Typically requires a bachelors degree, ideally with a background in math. In order to progress in the career, one has to take and pass actuarial exams.