Actuary (Noun)
Meaning
Someone versed in the collection and interpretation of numerical data (especially someone who uses statistics to calculate insurance premiums).
Classification
Nouns denoting people.
Examples
- The company's actuary analyzed the data and determined that the risk of a major flood in the area was low enough to warrant lower insurance premiums.
- As an actuary for the insurance company, she spent most of her day poring over statistical models and actuarial tables to assess the likelihood of various risks.
- He earned a degree in mathematics and became an actuary, using his skills to calculate probabilities and predict future events for his clients.
- The actuary's report indicated that the proposed changes to the company's pension plan would result in significant cost savings over the long term.
- To become an actuary, one typically needs to pass a series of professional exams and have a strong background in mathematics, statistics, and computer programming.