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What do actuaries do?

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Actuaries are risk experts who use math, statistics, and financial theory to help businesses manage uncertainty. They predict future risks and work to minimize financial loss, whether it’s calculating insurance premiums or forecasting pension costs. Anderson University’s program in actuarial science will prepare students for exciting, meaningful careers in this important field. 

Where Actuaries Work

  • Insurance: Most actuaries work in life, health, and property insurance. They evaluate risks like accidents, illnesses, or disasters to set premiums.
  • Pensions: They ensure companies can pay out promised pensions by predicting life expectancy and financial needs.
  • Other Sectors: Actuaries also work in areas like business strategy and government policy, helping manage large-scale financial risks.

How Actuaries Solve Problems

  • Data-Driven Decisions: Actuaries analyze tons of data—historical trends, risk factors, and statistical models.
  • Example: When setting car insurance rates, actuaries consider accident history, driver habits, and conditions to estimate future claims.

Beyond Insurance

  • Strategic Advisors: Actuaries help companies make smart financial decisions, manage mergers, and develop new products.
  • Government Impact: They also assist in crafting public policies, like healthcare or social welfare programs, by forecasting long-term financial impacts.

Key Skills

  • Math & Stats: Strong analytical skills are a must.
  • Problem Solving: They use logic to turn uncertainty into actionable insights.
  • Communication: They explain complex data to non-experts.

In short, actuaries balance risk and reward, helping companies and governments make informed decisions. Ready to learn more? Connect with our admissions team today!

2024, Academics, Resources

Anderson University educates students for lives of faith and service, offering more than 50 undergraduate majors, 30 three-year degrees, 20 NCAA Division III intercollegiate sports, alongside adult and graduate programs. The private, liberal arts institution is fully accredited and recognized for excellence in business, computer science, cybersecurity, engineering, music, nursing, psychology, and teacher education programs. Established in 1917 in Anderson, Indiana, by the Church of God, the university remains committed to its Christ-centered mission.