Actuarial analysis is a type of asset to liability analysis used by financial companies to ensure they have the funds to pay the required liabilities. Insurance and retirement investment products are two common financial products in which actuarial analysis is needed. Actuarial analysis is used by many financial companies for managing the risks of certain products. This type of work is done by highly educated and certified professional statisticians who focus on the correlating risks of insurance products and their clients. Actuarial analysis uses statistical models to manage financial uncertainty by making educated predictions about future events.
A Concrete Example Of What An Actuary Does
Actuary Job Description: Salary, Skills, & More
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Actuaries perform complex calculations to determine the likelihood of various outcomes related to accidents, illnesses, consumer demand, and investments. They utilize specialized computer software to crunch numbers and generate tables, graphs, and reports regarding their findings. An actuary is one of the top jobs for graduates who major in mathematics. The actuarial data they generate is essential for the successful enterprise risk management efforts of companies, which must continually modify their business, research and development, and marketing operations to control their overall financial risk exposure and ensure the stability of their business operations.
Opinions are reviewed by the Periodicals Editorial Board. These papers have not been peer reviewed by any CAS Committee. Future Fellows Submission Guidelines. A CAS Monograph is a comprehensive, peer-reviewed work on a single aspect of property casualty actuarial science that is primarily educational in nature. It may be a compendium or original research or both.