actuary

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Related to Actuarian: actuarial table, Actuarial science

Actuary

A statistician who works for an insurance company or other organization that assesses risk. The actuary computes various risk factors and determines the likelihood of whether (or when) an event will occur. For example, an actuary will 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.

actuary

a statistician employed by an INSURANCE COMPANY to calculate insurance risks and premiums.

actuary

a statistician who calculates insurance risks and premiums. See RISK AND UNCERTAINTY, INSURANCE COMPANY.
References in periodicals archive ?
A leading actuarian claimed recently that in future people are likely to have to work to an older age than now.
Raj Mody, an actuarian at pensions specialists Bacon & Woodrow, said: 'The MFR has become something of a broken measure.
Raj Moody, an actuarian at Bacon & Woodrow, said MFR was a crude calculation that had failed to meet the sophisticated nature of the investment markets.