WHAT IS AN ACTUARY ANYWAY?
Actuaries are professionals who provide expert advice and relevant solutions for business and societal problems that involve economic risk.
An actuary working for an insurance company might calculate how much a company would charge for a new type of car, homeowners, or health insurance. He or she may have to figure out how much money needs to be invested in a pension fund today so that years from now, when the employees retire, there will be funds to pay them benefits. Or, an actuary might calculate how much damage an earthquake or hurricane could cause.
Besides insurance, actuaries work in many other fields. That's because their skills are readily transferable to any business that deals with risk. An actuary could work in finance, marketing, manufacturing, or in the development of new products. For example, an actuary might determine how a company should invest its money based on risk and potential return. An actuary might determine potential profit gaines when a business enters a new international market or forecast the return on investment to develop a new product.
