Job Description:

• 1) Applies knowledge of mathematics, probability, statistics, principles of finance and business to problems in life, health, social, and casualty insurance, annuities, and pensions: 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.

• 2) Designs or reviews insurance and pension plans and calculates premiums.

• 3) Ascertains premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.

• 4) Determines equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.

• 5) May specialize in one type of insurance and be designated Actuary, Casualty; Actuary, Life.