WHAT IS 'HEALTH INSURANCE'

Advertisement Most of us are not aware of what an actuary does and the importance of the role in an insurance company. Undoubtedly, an actuarial job may seem quite boring, but it is one of the most challenging and high-paying jobs. If you are a math or statistics genius, then this may be the perfect career for you. The actuary's main responsibility is assessing/quantifying risk and developing means of mitigating risks. Actuaries are largely known for their work in the insurance and pension fields, where they design financially secure benefit programs to protect customers. Let's take a look at the role, certification process and career advancement of an actuary.
What is an Actuary?
Actuaries are the financial engineers of the insurance industry, specializing in either life and health insurance or property and casualty insurance. Basically, they formulate probability tables or employ highly advanced dynamic modeling methods that predict the probability that a potential event will generate a claim. From these tables, they ascertain the amount of money needed for claims payouts. Advertisement