Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess the risk of potential events, and they help businesses and clients develop policies that minimize the cost of that risk. Actuaries' work is essential to the insurance industry.
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Print Occupation
- Actuaries
Finance
What do they typically do
- Compile and analyze statistical data and other information
- Estimate the probability and likely economic cost of an event such as death, sickness, an accident, or a natural disaster
- Design and test insurance policies, investments, and other business strategies to minimize risk and maximize profitability
- Calculate cash reserves needed, based on existing policies and liabilities, in case of payout or claims
- Produce charts, tables, and reports that explain calculations and proposals
- Explain their findings and proposals to company executives, government officials, shareholders, and clients
Number of Jobs
Average Annual
Job Growth +2.7%
Job Openings 92
Education & Training
- Education Most require a four-year bachelor's degree, but some do not.Associated Programs or MajorsLicense
Private Training Programs
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Change 246