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21% Chance of Automation
“Pricing 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 Actuary
- Health Actuary
- Consulting Actuary
- Actuary
- Actuarial Consultant
- Actuarial Associate
- Actuarial Assistant
- Actuarial Analyst
- Pricing Analyst
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
Tasks for “Pricing Analyst”
- Testify before public agencies on proposed legislation affecting businesses.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- 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.
- 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 advice to clients on a contract basis, working as a consultant.
- Determine policy contract provisions for each type of insurance.
- Explain changes in contract provisions to customers.
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Manage credit and help price corporate security offerings.
Related Technology & Tools
- Notebook computers
- Personal computers
- Desktop computers
- 10-key calculators
- Milliman ReservePro
- GGY AXIS
- ARMON Technologies XLActuary
- Microsoft Access
- Microsoft PowerPoint
- SAS
- Microsoft Word
- Appraisal software
- PolySystems Asset Delphi
- Spreadsheet software
- Statistical software
- Wolfram Research Mathematica
- C++
- Insureware ICRFS-ELRF
- Word processing software
- Presentation software
- SS&C PTS
- Microsoft Visual Basic
- SPSS
- dBASE Plus
- Oak Mountain Software AnnuityValue
- Data entry software
- Microsoft Visio
- Lewis & Ellis LEAPPS
- Microsoft Excel
- R
- Compliance testing software
- Pricing software
- Microsoft Visual FoxPro
- Milliman Corporate Affinity
- Insightful S-PLUS
- SAP BusinessObjects Desktop Intelligence
- Cash flow software
- Structured query language SQL
- Microsoft Office
- IBM Lotus Notes