actuary
n.
one who calculates insurance risks and premiums according to statistical probabilities
Actuary
An actuary is a business professional who deals with the financial impact of risk and uncertainty.Actuaries have a deep understanding of financial security systems, their reasons for being, their complexity, their mathematics, and the way they work . They evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events. Since many events, such as death, cannot be totally avoided, it is helpful to take measures to minimize their financial impact when they occur. These risks can impact both sides of the
balance sheet, and require
asset management,
liability management, and valuation skills. Analytical skills, business knowledge and understanding of human behavior and the vagaries of information systems are required to design and manage programs that control risk .
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actuary
Noun
1. someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums)
(synonym) statistician
(hypernym) calculator, reckoner, figurer, estimator, computer
(hyponym) surveyor
(classification) statistics
Actuary
(n.)
The computing official of an insurance company; one whose profession it is to calculate for insurance companies the risks and premiums for life, fire, and other insurances.
(n.)
A registrar or clerk; -- used originally in courts of civil law jurisdiction, but in Europe used for a clerk or registrar generally.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter.
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Actuary
a specialist in the mathematics of future risk, especially as it relates to insurance calculations such as premiums, reserves, dividends, and insurance and annuity rates (boring job).