What is "Actuary" meaning?

An actuary is a professional who evaluates financial risks, often in the fields of insurance, pension planning, and investment, using statistical and mathematical models.

Example

The actuary presented data showing that increasing premiums would help the insurance company manage future claims more effectively.

How is "Actuary" used in business?

Actuaries are commonly used in insurance, pension planning, and investment sectors to calculate risks and predict the financial outcomes of future events, helping companies make informed decisions.

Pro Tip

Actuaries rely on extensive statistical models to predict risks, so businesses should ensure they regularly update their models based on emerging trends.

Related Terms

Risk Management, Insurance, Pension Plans