Will “Actuarial Mathematician” be Replaced By Robots? 🤔
21% Chance of Automation
“Actuarial Mathematician” will almost certainly not be replaced by robots.
This job is ranked #209 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.
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Job Description
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Job Details
- The SOC (Standard Occupational Classification) code is 15-2011.00
- The Mean Annual Wage in the U.S. is $ 114,120.00
- The Mean Hourly Wage is $ 54.00
- Currently, there are 19,940 people on this job
☝️ Information based on the reference occupation “Actuaries”.
Also Known As…
- Actuaries
- Product Development Actuary
- Pricing Analyst
- Pricing Actuary
- Health Actuary
- Consulting Actuary
- Actuary
- Actuarial Consultant
- Actuarial Associate
- Actuarial Assistant
- Actuarial Analyst
- Insurance Actuary
- Actuarial Manager
Tasks for “Actuarial Mathematician”
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Explain changes in contract provisions to customers.
- Provide advice to clients on a contract basis, working as a consultant.
- Testify before public agencies on proposed legislation affecting businesses.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Manage credit and help price corporate security offerings.
- Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Determine policy contract provisions for each type of insurance.
Related Technology & Tools
- Personal computers
- Notebook computers
- 10-key calculators
- Desktop computers
- R
- Microsoft Access
- GGY AXIS
- ARMON Technologies XLActuary
- IBM Lotus Notes
- Microsoft Office
- Compliance testing software
- C++
- PolySystems Asset Delphi
- SAP BusinessObjects Desktop Intelligence
- Statistical software
- Milliman ReservePro
- Microsoft PowerPoint
- Microsoft Visio
- Lewis & Ellis LEAPPS
- Oak Mountain Software AnnuityValue
- SPSS
- Microsoft Visual FoxPro
- Word processing software
- SAS
- Insureware ICRFS-ELRF
- Wolfram Research Mathematica
- Appraisal software
- Data entry software
- Pricing software
- Spreadsheet software
- Cash flow software
- SS&C PTS
- Microsoft Visual Basic
- Insightful S-PLUS
- Microsoft Word
- Milliman Corporate Affinity
- Structured query language SQL
- dBASE Plus
- Presentation software
- Microsoft Excel