Will “Actuarial Associate” be Replaced By Robots? 🤔
21% Chance of Automation
“Actuarial Associate” 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 Assistant
- Actuarial Analyst
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
- Actuarial Associate
Tasks for “Actuarial Associate”
- 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.
- 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 policy contract provisions for each type of insurance.
- Manage credit and help price corporate security offerings.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- 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.
- Provide advice to clients on a contract basis, working as a consultant.
- Explain changes in contract provisions to customers.
- Testify before public agencies on proposed legislation affecting businesses.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Related Technology & Tools
- Desktop computers
- Notebook computers
- Personal computers
- 10-key calculators
- Appraisal software
- Microsoft Visual Basic
- Microsoft Access
- GGY AXIS
- PolySystems Asset Delphi
- Microsoft Visual FoxPro
- SAS
- Lewis & Ellis LEAPPS
- Milliman ReservePro
- ARMON Technologies XLActuary
- Presentation software
- Microsoft Visio
- Microsoft Excel
- Milliman Corporate Affinity
- Microsoft PowerPoint
- Spreadsheet software
- IBM Lotus Notes
- Insightful S-PLUS
- C++
- Data entry software
- R
- Microsoft Word
- Structured query language SQL
- Microsoft Office
- SAP BusinessObjects Desktop Intelligence
- Wolfram Research Mathematica
- Compliance testing software
- SS&C PTS
- Statistical software
- Insureware ICRFS-ELRF
- dBASE Plus
- Word processing software
- Pricing software
- Oak Mountain Software AnnuityValue
- SPSS
- Cash flow software