Actuaries

Average Base Salary:

JOB OPENINGS:

2400

Occupation Overview - Actuaries

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.
Training Courses for the Actuaries Job Role
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.

Core Task Examples:

  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • 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.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
  • Determine policy contract provisions for each type of insurance.
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
  • Negotiate terms and conditions of reinsurance with other companies.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
  • Testify before public agencies on proposed legislation affecting businesses.

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