An actuary is a person who calculates insurance risks and premiums. Actuaries
use their knowledge of math and statistics to plan insurance and pension programs
that are financially stable.
Actuaries may specialize in life and health insurance, employee benefits,
pensions, auto and fire insurance, liability insurance and workers' compensation.
For example, some actuaries help insurance companies predict the number
of customers who will be injured, and how much the company will have to pay
in claims.
Most actuaries work in large urban centers, at the headquarters of insurance
companies. The biggest employers of actuaries are life insurance companies,
but banks may become another big employer as they move into the insurance
business.
Actuaries also work for property, casualty and health insurance companies.
Many actuaries are self-employed as consultants. They may also work in association
with insurance agents and brokers. A small number of actuaries work for government
or in education.
Actuaries generally work a 40-hour workweek. There are few physical requirements,
other than the ability to sit at a desk for prolonged hours. Those working
as consulting actuaries may have to travel.