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.
Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍
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”
- Manage credit and help price corporate security offerings.
- Determine policy contract provisions for each type of insurance.
- 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.
- Provide advice to clients on a contract basis, working as a consultant.
- 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.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- 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.
- Testify before public agencies on proposed legislation affecting businesses.
- 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.
Related Technology & Tools
- Desktop computers
- Personal computers
- 10-key calculators
- Notebook computers
- Pricing software
- Lewis & Ellis LEAPPS
- Microsoft Excel
- R
- Microsoft Visio
- SPSS
- Microsoft PowerPoint
- GGY AXIS
- Oak Mountain Software AnnuityValue
- Microsoft Visual FoxPro
- Milliman Corporate Affinity
- Microsoft Access
- Insightful S-PLUS
- PolySystems Asset Delphi
- Presentation software
- C++
- Microsoft Office
- SS&C PTS
- Insureware ICRFS-ELRF
- Microsoft Word
- ARMON Technologies XLActuary
- Data entry software
- Appraisal software
- Spreadsheet software
- Statistical software
- Microsoft Visual Basic
- Wolfram Research Mathematica
- SAP BusinessObjects Desktop Intelligence
- Compliance testing software
- dBASE Plus
- Cash flow software
- IBM Lotus Notes
- Structured query language SQL
- SAS
- Milliman ReservePro
- Word processing software