Actuary

Description


An actuary is someone who uses statistics to determine the probability of risks and the financial consequences of those risks; it’s the perfect position for someone who loves numbers. Actuaries come up with numbers for insurance companies, working with accountants and underwriters to determine what insurance rates should be based on these risks and their financial outcomes.

Career Path

  •   Assistant Actuary
  •   Actuary

Main Activity

  • Compile statistical data and other information for further analysis

  • Estimate the probability and likely economic cost of an event such as death, sickness, an accident, or a natural disaster

  • Design, test, and administer insurance policies, investments, pension plans, and other business strategies to minimize risk and maximize profitability

  • Produce charts, tables, and reports that explain calculations and proposals

  • Explain their findings and proposals to company executives, government officials, shareholders, and clients

Skills

  •   Analytical Skill
  •   Communication skills
  •   Computer Skills
  •   Interpersonal skills
  •   Math Skill
  •   Problem-solving skills

Type

  • Health insurance actuary
  • Life insurance actuary
  • Property and casualty insurance actuary
  • Pension and retirement benefit actuary
  • Enterprise risk actuary