The Lords Insurance Blog

Making Insurance

Term of The Day

From our insurance terms section, this is the definition:

Actuary – A specialist in the mathematics of insurance who calculates rates, reserves, dividends and other statistics. (Americanism: In most other countries the individual is known as “mathematician.”)”

“An actuary is a business professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. Actuaries may work for insurance companies, consulting firms, government, employee benefits departments of large corporations, hospitals, banks and investment firms, or, more generally, in businesses that need to manage financial risk. A career as an Actuary is better described as a “business” career with a mathematical basis than as a “technical” mathematical career.” – Purdue University

So if you love math, consider a position as an actuary!

Read here to learn how to become an Actuary

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Written by lordsinsurancelog

December 8, 2010 at 5:10 pm

Posted in Daily Quip

Tagged with , ,