Will “Health Actuary” be Replaced By Robots? 🤔
21% Chance of Automation
“Health Actuary” will almost certainly not be replaced by robots.
This job is ranked #209 out of #702, where higher means less likely to be replaced.
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.
- 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…
- Product Development Actuary
- Pricing Analyst
- Pricing Actuary
- Health Actuary
- Consulting Actuary
- Actuarial Consultant
- Actuarial Associate
- Actuarial Assistant
- Actuarial Analyst
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
Tasks for “Health Actuary”
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- 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.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Testify before public agencies on proposed legislation affecting businesses.
- Manage credit and help price corporate security offerings.
- Explain changes in contract provisions to customers.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- 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.
- Provide advice to clients on a contract basis, working as a consultant.
- Determine policy contract provisions for each type of insurance.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Related Technology & Tools
- Desktop computers
- Notebook computers
- Personal computers
- 10-key calculators
- Microsoft Access
- ARMON Technologies XLActuary
- Milliman Corporate Affinity
- Compliance testing software
- Appraisal software
- SS&C PTS
- Microsoft Excel
- dBASE Plus
- SAP BusinessObjects Desktop Intelligence
- Word processing software
- GGY AXIS
- Microsoft PowerPoint
- Spreadsheet software
- Statistical software
- Microsoft Office
- Insightful S-PLUS
- Pricing software
- Microsoft Visual Basic
- Presentation software
- Structured query language SQL
- Cash flow software
- Data entry software
- Milliman ReservePro
- Microsoft Word
- PolySystems Asset Delphi
- Lewis & Ellis LEAPPS
- Microsoft Visual FoxPro
- Oak Mountain Software AnnuityValue
- Insureware ICRFS-ELRF
- Microsoft Visio
- IBM Lotus Notes
- Wolfram Research Mathematica