Roles · Insurance

AI product development actuary

Analyses statistical data and constructs probability tables to forecast risk and liability for payment of future benefits.

Mele Adeyemi“I analyse data to estimate rates and construct tables.”An example character, not a real person.
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Product development actuary · What it does

Three tasks it takes off your hands

  1. Analyse statistical information to estimate mortality and retirement rates.
  2. Construct probability tables for events based on statistical data.
  3. Analyse data to determine premium rates and cash reserves.
Where these come from

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

  • 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.
  • Analyze data to determine premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.

Product development 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), written in our words. Sources and credits

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