Actuarial Mathematics

Actuaries are essential employees because they determine future risk, make price decisions, and formulate investment strategies. The study of actuarial mathematics presents an opportunity to apply mathematical models to real-life problems to come up with solving strategies, such as those related to business and finance. Some actuaries also design insurance, financial, and pension plans and ensures that these plans are maintained on a sound financial basis. Most actuaries specialize in life and health or property and casualty insurance; others work primarily in finance or employee benefits. Some use a broad knowledge of business and mathematics in investment, risk classification, or pension planning.

Significant Points:

  • A strong background in mathematics is essential.
  • About 7 out of 10 actuaries are employed in the insurance industry.
  • This small occupation generates relatively few job openings; the fastest employment growth is expected in the computer and data processing services, health services, and management and actuarial consulting.
  • Increasing regulations, business expansion and international trade and growth allows for more actuarial careers.

Sample Occupations:

  • Actuaries
  • Bank consultants
  • Consultants
  • Insurance
  • Analysts
  • Estimators
  • Cryptologist
  • Artificial Intelligence
  • Investment
  • Urban Planning
  • Robotics
  • Aerospace Engineering

Skills Required:

  • May require travel with clients
  • Strong communications skills
  • Computer skills
  • Good business sense

Professional Organizations:

Department:

  • Mathematical Sciences

 

 
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