What is an Actuary?admin
What is an Actuary?
Actuaries are highly regarded professionals; actuaries are problem solvers and strategic thinkers with a deep understanding of financial systems.
Being an actuary means having highly valued mathematical skills and expertise
Actuaries come from different academic backgrounds but share a love of maths even if they haven’t done a maths degree. When you train as an actuary you’ll learn how to analyse data, evaluate financial risks, and communicate this data to non-specialists.
Actuaries use their skills to help measure the probability and risk of future events
Every area of business is subject to risks so an actuarial career offers many employment options, including banking, insurance, healthcare, pensions, investment but also non-financial areas.
In simple words….
Every business faces risk and uncertainty. Actuaries help in understanding the uncertainty and in taking more informed decisions. They help assess the financial impact of likely future events by analyzing the past and modeling the future, essentially in financial terms.
Thus, they help in development of financial products and taking business decisions.
Actuaries combine strong analytical skills (in mathematics and statistics) with their knowledge of business and economics (and some psychology too) to try to predict the likelihood of various future events and to try to prepare for them.