Day-to-Day Responsibilities
Collect, clean and check large sets of claims, policy, premium and investment data before analysis.
Build statistical models that estimate how often events such as claims, deaths or defaults will happen and how much they will cost.
Help price insurance and pension products by testing how premiums change with different levels of risk.
Estimate the reserves an insurer must hold to meet future claims, and review these estimates each period.
Run scenario and stress tests to see how a company's finances would hold up under unusual conditions.
Prepare reports and charts that explain model results to managers, underwriters and, where needed, regulators.
Work with senior actuaries to check assumptions, document models and fix errors found in review.
