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