Actuaries analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates, and construct probability tables to forecast risk and liability for payment of future benefits. Actuaries also do ascertain the insurance rates required and cash reserves necessary to ensure payment of future benefits.
Actuary similar professions simply refer to occupations that have similarities or overlap with the role and responsibilities of an actuary. These professions typically involve using mathematics, statistics, and financial theory to analyze and assess risks and make predictions about future events.
They may also involve working with insurance companies, pension plans, and financial institutions to design and implement financial policies and programs. In simple terms, these similar professions use math and finance to help businesses and organizations make informed decisions.
For instance, a financial analyst uses financial data to make recommendations for investments and other financial decisions, which is similar to the role of an actuary. Similarly, a mathematician uses mathematical models to solve complex problems and make predictions, which also aligns with the work of an actuary.
There are many Actuary similar professions and most work within and outside insurance companies. Although most work full-time in an office setting, some who work as consultants may travel to meet with clients. To become an Actuary, you need to have at least a bachelor’s degree and must pass a series of exams to become a certified professional. You must have a strong background in mathematics, statistics, and business.
19 Actuary Similar Profession
- Budget Analysts
- Claims Examiners, Property and Casualty Insurance
- Clinical Data Managers
- Compensation and Benefits Managers
- Compensation, Benefits, and Job Analysis Specialists
- Cost Estimators
- Credit Analysts
- Financial Analysts
- Financial Examiners
- Industrial-Organizational Psychologists
- Market Research Analysts and Marketing Specialists
- Personal Financial Advisors
- Regulatory Affairs Specialists
- Risk Management Specialists
- Survey Researchers
- Training and Development Specialists