Roles · Insurance

AI actuary

Analyses statistical data to construct probability tables and determine premium rates and cash reserves for future benefit payments.

Amelia Smith“I analyse statistical data to construct probability tables for risk forecasting.”An example character, not a real person.
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Actuary · What it does

Three tasks it takes off your hands

  1. Analyse data to determine premium rates and cash reserves for future benefits.
  2. Analyse statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  3. Construct probability tables for events based on analysis of statistical data.
Where these come from

The tasks of “Actuaries” (O*NET 15-2011.00), as O*NET lists them:

  • Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.

Actuary · Tools and industries

It works in the tools you already use

  • Microsoft Excel
  • Microsoft Office software
  • Microsoft Power BI
  • Microsoft PowerPoint
  • Microsoft Visual Basic for Applications VBA
  • Python

Industries it fits

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Role facts from O*NET 31.0 Database (U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), CC BY 4.0) and ANZSCO 2022 (Australian Bureau of Statistics, CC BY 4.0), written in our words. Sources and credits

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