Actuaries are professionals who use mathematical and statistical techniques to assess and manage risk in a variety of industries. They are typically employed by insurance companies, consulting firms, and government agencies. Some common types of jobs held by actuaries include:
- Actuary: Actuaries use statistical data and mathematical modeling to assess and predict the likelihood of various events, such as natural disasters, accidents, and illnesses. They use this information to help design and price insurance policies, investment products, and other financial products.
- Actuarial Analyst: Actuarial analysts assist actuaries in the performance of their duties. They may be responsible for collecting and analyzing data, creating spreadsheets and models, and presenting findings to the actuaries.
- Actuarial Consultant: Actuarial consultants provide advice to clients on a wide range of financial and risk management issues. They may work for consulting firms, insurance companies, or other organizations.
- Retirement Actuary: Retirement actuaries specialize in assessing and managing the financial risks associated with pension plans, 401(k) plans, and other retirement savings plans.
- Health Actuary: Health actuaries specialize in assessing and managing the financial risks associated with health insurance plans and other health-related products and services.
- Life Actuary: Life actuaries specialize in assessing and managing the financial risks associated with life insurance policies and other financial products that are based on the mortality of individuals.
These are some of the jobs an actuary can have, but there are many other areas where an actuary can work such as Property and Casualty, or Investment Actuaries.