Actuary
An Actuary is a professional who assesses and manages financial risks using mathematics, statistics, and financial theory. In the insurance industry, actuaries analyze data to calculate insurance premiums, assess the probability of future events (such as accidents or natural disasters), and determine the financial impact of risks on insurance companies.
They play a critical role in designing insurance policies, ensuring that premiums adequately cover potential losses while maintaining profitability for the insurer. Actuaries also provide guidance on investment strategies, regulatory compliance, and overall financial stability within insurance operations. Their work helps insurers make informed decisions to protect against financial uncertainties and ensure sustainable business practices.