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