Actuary

Definition

• An insurance professional who estimates risk and uncertainty. Actuaries assess the complexities, mathematics, and the mechanisms of financial securities.

Synonyms
analyst, financial officer, statistician, number cruncher

Related Terms and Acronyms

• Actuarial Table — Definition,
  • A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
• Attained Age — Definition,
  • The current age of an insured individual.
• Comptroller — Definition,
  • An individual who oversees and audits the financial reporting and accounting of an organization.
• Insurance Score — Definition,
  • A score used by those in the insurance industry to determine how likely a claim will need to be paid out for an individual or entity.
• Issue Age — Definition,
  • The policyholder's age when the policy was first issued, to the nearest year.
• Risk Management — Definition,
  • The methods used to identify, assess, and prioritize risk and the strategies used to manage them in the most effective and economical way possible.
• Survival Analysis — Definition,
  • A statistical analysis of how likely someone or something will survive to a set date.
• Ultimate Mortality Table — Definition,
  • A mortality table that does not include information from people who have been approved for life insurance recently.
• Yearly Price Protection Method — Definition,
  • A calculation used to determine the annual cost of protection for insurance policies with savings components.