Actuaries are at the heart of the insurance industry. They assess risk in order to formulate policies and minimize costs of risk for the insurance industry. The job duties of an actuary include gather, assemble and analyse data information to estimate the likely costs of events such as death, sickness, injury, disability, or loss of property; advise companies on investment policy and the distribution of profits to policyholders; or determine appropriate premiums or contributions and rates of return by calculating the future probabilities of events such as unemployment, illness or changes in interest rates.
They may work in fields such as data analytics, energy resources and the environment.
To become an actuary, you usually have to hold a Bachelor’s degree in mathematics, statistics, or actuarial science, or a business-related field such as finance, economics or business with a strong background in mathematics; passing a series of professional examinations.
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