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Actuaries

  • Bright Outlook
  • Rapid Growth

Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.

What you’d do

  • Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.

Skills that matter

  • Mathematics
  • Reading Comprehension
  • Active Listening
  • Complex Problem Solving
  • Critical Thinking
  • Judgment and Decision Making

How to get there

Considerable preparation: most need a four-year bachelor's degree

Also called

  • Actuarial Analyst
  • Actuary
  • Consulting Actuary
  • Pricing Actuary
  • Actuarial Associate
  • Actuarial Consultant

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