Will “Actuarial Analyst” be Replaced By Robots? 🤔
21% Chance of Automation
“Actuarial Analyst” 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
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
- Actuarial Analyst
Tasks for “Actuarial Analyst”
- Testify before public agencies on proposed legislation affecting businesses.
- Provide advice to clients on a contract basis, working as a consultant.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Determine policy contract provisions for each type of insurance.
- 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.
- Explain changes in contract provisions to customers.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- 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.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- 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 equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Manage credit and help price corporate security offerings.
Related Technology & Tools
- Notebook computers
- Desktop computers
- 10-key calculators
- Personal computers
- Presentation software
- Insureware ICRFS-ELRF
- Lewis & Ellis LEAPPS
- ARMON Technologies XLActuary
- Microsoft Access
- Milliman ReservePro
- SPSS
- Insightful S-PLUS
- Spreadsheet software
- R
- Oak Mountain Software AnnuityValue
- Milliman Corporate Affinity
- SS&C PTS
- Structured query language SQL
- Microsoft PowerPoint
- Wolfram Research Mathematica
- Microsoft Visual FoxPro
- SAS
- Word processing software
- Microsoft Word
- Pricing software
- dBASE Plus
- C++
- GGY AXIS
- Statistical software
- Microsoft Office
- SAP BusinessObjects Desktop Intelligence
- Microsoft Visio
- Data entry software
- Microsoft Visual Basic
- Appraisal software
- Compliance testing software
- Microsoft Excel
- IBM Lotus Notes
- PolySystems Asset Delphi
- Cash flow software