What does an insurance actuary do?

Reserving and Financial Reporting: Actuaries are responsible for estimating future claim liabilities and establishing reserves to ensure that insurance companies can meet their financial obligations to policyholders. They also provide financial reports and projections to management, regulators, and stakeholders.

What does a life actuary do?

Life actuaries, which includes health and pension actuaries, primarily deal with mortality risk, morbidity risk, and investment risk. Products prominent in their work include life insurance, annuities, pensions, short and long term disability insurance, health insurance, health savings accounts, and long-term care insurance.

What does a health actuary do?

In this practice area, actuaries typically work with insurers to assess customers’ financial risks and set premiums. Health actuaries apply data from electronic health records to analyze information and draw conclusions from their findings. These professionals must remain up to date on policies and regulations to create new insurance policies.