actuaries
Insurance math experts
Actuaries are professionals who analyze financial risk using mathematics, statistics, and financial theory.
They work primarily in insurance and pension industries, calculating probabilities of events like death, illness, or property damage to help companies set premiums and maintain financial stability.
The actuaries determined that flood insurance rates needed to increase based on climate data.
Becoming an actuary requires passing a demanding series of professional exams over several years.
The singular is actuary.
Payments for insurance coverage
- underwritingRisk evaluation and acceptance
- policyholdersThose owning insurance contracts
- claimsStatements of truth
- reinsuranceInsurers insuring themselves
coverage · deductibles · liabilities · indemnity · annuities · casualty · life · health
Assessment of monetary worth
- assetsOwned items of value
- liabilitiesAmounts owed to others
- investmentsAssets bought for profit
- portfolioCollected works or assets
bonds · equities · amortization · surplus · deficit · capital · solvency · duration
Mutual goodwill among companions
- credentialingVerifying professional qualifications
- consultingGiving expert advice professionally
- certificationAttestation of qualification
- examsFormal academic tests
Source of potential harm
- uncertaintyState of being unsure
- exposureState of being unprotected
- assessmentFormal evaluation of worth
- probabilityQuantified chance of occurrence
mitigation · contingency · severity · likelihood · vulnerability · peril · catastrophe · correlation
Estimating future conditions
- projectionSomething that extends outward
- simulationImitation of real processes
- stochasticRandomly determined, statistically describable
- deterministicCompletely caused by prior conditions
regression · variables · assumptions · credibility · graduation · interpolation · extrapolation
premiums
Payments for insurance coverage
- underwritingRisk evaluation and acceptance
- policyholdersThose owning insurance contracts
- claimsStatements of truth
reinsurance · coverage · deductibles · liabilities · indemnity · annuities · casualty · life · health · property
valuation
Assessment of monetary worth
- assetsOwned items of value
- liabilitiesAmounts owed to others
- investmentsAssets bought for profit
portfolio · bonds · equities · amortization · surplus · deficit · capital · solvency · duration
fellowship
Mutual goodwill among companions
- credentialingVerifying professional qualifications
- consultingGiving expert advice professionally
- certificationAttestation of qualification
hazard
Source of potential harm
- uncertaintyState of being unsure
- exposureState of being unprotected
- assessmentFormal evaluation of worth
probability · mitigation · contingency · severity · likelihood · vulnerability · peril · catastrophe · correlation · diversification
forecasting
Estimating future conditions
- projectionSomething that extends outward
- simulationImitation of real processes
- stochasticRandomly determined, statistically describable
deterministic · regression · variables · assumptions · credibility · graduation · interpolation · extrapolation
- insurance peopleinsurance agents, insurance brokers, underwriters, claims adjusters
- insuranceinsurance, coverage, auto insurance, life insurance, home insurance
- fire insurancefire risk, fire damage, fire protection, fire inspections, fire hazards
- insurance company employeesagents, insurance agents, brokers, insurance brokers, adjusters
- office workersreceptionist, office workers, office clerk, accountant, administrator
- life insuranceterm life, whole life, life insurance, beneficiary, premium
actuariesgamblers
Those who bet
speculators · daredevils · high-rollers · day traders · thrill-seekers
actuariesfortune tellers
Those claiming prophetic ability
psychics · astrologers · soothsayers · guessers · prophets
actuariesstuntmen
Professional film daredevils
daredevils · wildcatters · rock stars · cowboys · fighter pilots
- actuarial tablesStatistical mortality predictions