Will “Pricing Actuary” be Replaced By Robots? 🤔
21% Chance of Automation
“Pricing 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
- Health Actuary
- Consulting Actuary
- Actuary
- Actuarial Consultant
- Actuarial Associate
- Actuarial Assistant
- Actuarial Analyst
- Pricing Actuary
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
Tasks for “Pricing Actuary”
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Provide advice to clients on a contract basis, working as a consultant.
- Testify before public agencies on proposed legislation affecting businesses.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Manage credit and help price corporate security offerings.
- Determine policy contract provisions for each type of insurance.
- 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.
- 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.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Explain changes in contract provisions to customers.
- 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.
- 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.
Related Technology & Tools
- 10-key calculators
- Desktop computers
- Notebook computers
- Personal computers
- Microsoft Visual FoxPro
- Wolfram Research Mathematica
- Data entry software
- Word processing software
- Spreadsheet software
- SS&C PTS
- Microsoft Access
- Milliman Corporate Affinity
- PolySystems Asset Delphi
- Microsoft Office
- SAP BusinessObjects Desktop Intelligence
- C++
- Microsoft Word
- ARMON Technologies XLActuary
- Insureware ICRFS-ELRF
- Microsoft Visio
- SAS
- Microsoft Excel
- SPSS
- Microsoft PowerPoint
- Oak Mountain Software AnnuityValue
- R
- GGY AXIS
- Presentation software
- dBASE Plus
- Milliman ReservePro
- Pricing software
- IBM Lotus Notes
- Lewis & Ellis LEAPPS
- Cash flow software
- Compliance testing software
- Appraisal software
- Microsoft Visual Basic
- Statistical software
- Structured query language SQL
- Insightful S-PLUS