actuarial
Insurance math related
Actuarial relates to the statistical analysis of risk, particularly for insurance and pensions.
Actuaries calculate probabilities of events like death, illness, or accidents to determine insurance premiums and financial reserves.
Actuarial tables show life expectancy at different ages.
The actuarial analysis showed the pension fund was underfunded by billions.
Payments for insurance coverage
- underwritingRisk evaluation and acceptance
- policyholderOwner of insurance contract
- coverageExtent of inclusion
- claimsStatements of truth
reinsurance · deductibles · indemnity · exclusions · endorsements · liability · casualty · adjuster
State of eventual death
- longevityDuration of existence
- expectancyLikelihood of occurrence
- survivalRemaining alive against odds
- demographyStatistical study of populations
population · cohorts · fertility · census · morbidity · generation · centenarian · decrement
Retiree's ongoing benefit
- annuitiesPeriodic fixed payments
- valuationAssessment of monetary worth
- assetsOwned items of value
- liabilitiesAmounts owed to others
funds · capital · portfolio · dividends · fiscal · revenue · hedging · derivatives
State of being unprotected
- uncertaintyState of being unsure
- catastropheDevastating, large-scale misfortune
- hazardSource of potential harm
- perilSerious threat of harm
severity · frequency · assessment · mitigation · contingency · aggregate · retained · ceded
Quantified chance of occurrence
- forecastingEstimating future conditions
- projectionSomething that extends outward
- regressionReturn to former state
- samplingExtracting subset for study
modeling · stochastic · deterministic · credibility · simulation · assumptions · sensitivity · variance
premiums
Payments for insurance coverage
- underwritingRisk evaluation and acceptance
- policyholderOwner of insurance contract
- coverageExtent of inclusion
claims · reinsurance · deductibles · indemnity · exclusions · endorsements · liability · casualty · adjuster · insured
mortality
State of eventual death
- longevityDuration of existence
- expectancyLikelihood of occurrence
- survivalRemaining alive against odds
demography · population · cohorts · fertility · census · morbidity · generation · centenarian · decrement · graduation
pension
Retiree's ongoing benefit
liabilities · funds · capital · portfolio · dividends · fiscal · revenue · hedging · derivatives · discounting
exposure
State of being unprotected
- uncertaintyState of being unsure
- catastropheDevastating, large-scale misfortune
- hazardSource of potential harm
peril · severity · frequency · assessment · mitigation · contingency · aggregate · retained · ceded · concentration
probability
Quantified chance of occurrence
- forecastingEstimating future conditions
- projectionSomething that extends outward
- regressionReturn to former state
sampling · modeling · stochastic · deterministic · credibility · simulation · assumptions · sensitivity · variance · deviation
- fire insurancefire risk, fire damage, fire protection, fire inspections, fire hazards
- insurance termspremiums, full coverage, monthly premium, deductibles, payout
- professionsdoctor, lawyer, engineer, teacher, nurse
- insuranceinsurance, coverage, auto insurance, life insurance, home insurance
- life insuranceterm life, whole life, life insurance, beneficiary, premium
- riskrisk management, risk exposure, risk factors, risk appetite, risk premium
actuarialintuitive
Known without reasoning
speculative · impressionistic · seat-of-the-pants · haphazard · unscientific
actuarialsubjective
Based on personal perspective
qualitative · conjectural · guesswork · hypothetical · theoretical
actuarialanecdotal
Based on casual observation
qualitative · subjective · experiential · clinical · judgmental