Actuarie Career

Job Description: 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.


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What Actuaries do:

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • 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.
  • 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.
  • Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.
  • Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
  • Testify before public agencies on proposed legislation affecting businesses.
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
  • Determine policy contract provisions for each type of insurance.
  • Provide advice to clients on a contract basis, working as a consultant.
  • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
  • Explain changes in contract provisions to customers.
  • Manage credit and help price corporate security offerings.

What work activities are most important?

Importance Activities

Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.

Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.

Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Communicating with Persons Outside Organization - Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Holland Code Chart for an Actuarie

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