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JOB TITLE
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ACTUARY
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JOB POSITION
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ACTUARY
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JOB INDUSTRIES
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PROFESS. & KIN.
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JOB DESCRIPTION (DUTIES, RESPONSABILITIES AND TASKS)
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- May specialize in one type of insurance and be designated Actuary, Casualty (profess. & kin.); Actuary, Life (profess. & kin.). .
- Determines equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Ascertains premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Designs or reviews insurance and pension plans and calculates premiums.
- Determines mortality, accident, sickness, disability, and retirement rates; constructs probability tables regarding fire, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Applies knowledge of mathematics, probability, statistics, principles of finance and business to problems in life, health, social, and casualty insurance, annuities, and pensions.
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