Actuaries
Also known as: Actuarial Analyst, Actuarial Associate, Actuarial Consultant (+16 more)
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.
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What You'll Do
- Ascertain 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.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Testify before public agencies on proposed legislation affecting businesses.
- Provide advice to clients on a contract basis, working as a consultant.
- Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person disabled or killed in an accident.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine policy contract provisions for each type of insurance.
Essential Skills
Career Fit Overview
Use this summary to sense whether the day to day rhythm and focus of this path line up with what energizes you.
Top passions
- Organizer: Bringing order to data and processes satisfies you.
- Analyst: Investigating problems and finding patterns keeps you engaged.
- Leader: Taking charge and moving ideas forward motivates you.
Common styles
Attention to Detail, Cautiousness, Dependability, Intellectual Curiosity, Integrity
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Key Abilities
This career demands strong capabilities in the following areas:
Technologies & Tools
Work Environment & Strengths
Common Strengths for This Career
- Attention to Detail (High importance: 5.0/5)
- Cautiousness (High importance: 4.77/5)
- Dependability (High importance: 4.77/5)
- Intellectual Curiosity (High importance: 4.72/5)
- Integrity (High importance: 4.57/5)
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Most employers require a bachelor's degree in a relevant field. Some positions may also require experience through internships, co-ops, or entry-level work to strengthen your candidacy.
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Also Known As
This career is known by many different job titles across industries. Here are all the variations:
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