Actuarial Science

(redirected from Actuarial Mathematics)
Also found in: Wikipedia.

Actuarial Science

The statistical study of risk as it relates to insurance. A practitioner of actuarial science computes various risk factors and determines the likelihood of whether (or when) an event will occur. For example, one may look at a person's medical information, such as height, weight, and pre-existing conditions, and mathematically determine how likely it is that the person will cost the insurance company more than he/she will pay in premiums. This helps the insurance company decide whether the person will receive coverage and, if so, what the monthly premium will be. Many universities offer degrees in actuarial science, though many insurance companies hire individuals with math degrees and teach them actuarial science directly.
References in periodicals archive ?
We Predict provides a service with a unique, advanced methodology to analyse data; it employs actuarial mathematics to perform massive comparative parallel analytics to examine the automakers' complete warranty data set, allowing thorough analysis to uncover otherwise hidden issues and potential failures.
Students take courses in probability, statistics, financial mathematic, actuarial mathematics, finance, marketing, accounting, management and information technology.
Cicco joined MassMutual in 1993 and received a Bachelor of Science degree from Bryant College with a concentration in Business Administration and Actuarial Mathematics.
Regina said: "He had just turned 18 and while he was very smart - he was studying actuarial mathematics and did really well in the Leaving Cert.
Brittany Ballou, a senior in finance from Webster; Kimberly Elloian, a sophomore in international business from Charlton; Samantha Faille, a junior in international business in finance from Dudley; Douglas Flink, a junior in finance from Auburn; Robert Gingras, a junior in international business management from Charlton; Travis Hare, a senior in accounting from Webster; William Manak, a sophomore in accounting from Webster; Rebecca Orsini, a senior in actuarial mathematics from Dudley; Seth Weimer, a junior in management from Charlton; and Jessica Woodacre, a senior in marketing from Charlton.
Roger was a senior lecturer in actuarial mathematics and statistics at Heriot-Watt University until he retired about four years ago.
Paul's expertise in actuarial mathematics and modeling enabled him to see an opportunity to turn the project into an underwriting tool," said Dan Dick, executive managing director, at Aon Benfield, "and then Kristi working in the field saw a role for it as a claims management tool.
Among the topics are the volume of tubes and distribution of the maxima of Gaussian random fields, the problem of optimal transportation as stochastic mechanics, the analysis of square contingency tables in statistics, the structure of the higher order asymptotic theory of statistical estimation, and basic theory and current issues regarding actuarial mathematics in Japan.
2004); Actuarial Mathematics authored by Bowers et al.
The study programme covers core topics such as statistical modelling, economics, financial and actuarial mathematics, and the traditional areas of actuarial work in investment, finance, asset management, life assurance, general insurance, pensions and employee benefits.
He starts with pensions, just companies' obligations and the investment bit, without going into the actuarial mathematics of people living longer.
Westerheide graduated from the University of Michigan with a BS in Actuarial Mathematics.
Full browser ?