Actuarie

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  Career Profile

Actuarie

What they do

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.

Also Called: Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Corporate Actuary, Health Actuary, Pricing Actuary, Product Development Actuary, Reserving Actuary, Actuarial Analyst, Actuarial Associate, Actuarial Consultant, Actuary, Consulting Actuary, Corporate Actuary, Health Actuary, Pricing Actuary, Product Development Actuary, Reserving Actuary

$75,380
Starting Salary (2023)
$120,000
Median Salary (2023)
23.2%
Projected Job Growth
25,470
Employment (2022)

Typical Tasks

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.
Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Negotiate terms and conditions of reinsurance with other companies.

A day in the life

What kind of work is this?

Conventional
Organized, Procedural Work
Investigative
Studying, Research based work
Enterprising
Business based Work

What personality traits do you need to succeed?

Analytical Thinking
Attention to Detail
Integrity
Dependability
Achievement/Effort
Initiative

What key skills are needed for this job?

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

Expected Knowledge

Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

Common Activities

Analyzing Data or Information
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Processing Information
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Working with Computers
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

More Info

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