actuary

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Related to actuarial: Actuarial Gains and Losses

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 ?
Expected Results: The expected intermediate outcomes for this project include: (1) increased availability of Indonesian trained actuarial science and risk management graduates to Indonesian businesses, universities and government agencies; and (2) strengthened actuarial science and risk management profession in Indonesia.
Most prominently, Nicholas highlighted that communication skills and professionalism - two values core to the actuarial profession - are key towards the successful application of predictive analytics.
The SOA is proud to announce this year's university grant recipients, which marks the fifth year for this actuarial research program," said R.
Clients like Royal London and the Phoenix Group have chosen Integrate because it brings together all of their modelling needs in a nimble platform that lets actuaries focus on actuarial analysis.
The society says it aims to protect public interest by promoting and upholding the highest standards of professional conduct and integrity of actuarial services in the country.
Company risk managers, controllers, chief financial officers and others who work directly with an actuary generally obtain a reasonable level of value from the actuarial analysis.
The core practice areas of members of the Casualty Actuarial Society--pricing, reserving and capital management--are critical elements of insurer enterprise risk analysis and modeling.
At work here appears to be some spirit of the Sarbanes-Oxley Act of 2002, with not only companies moving away from the use of internal or affiliated actuarial opinions to the use of independent actuarial firms, but also the survey results show some insurers moving away from using the same firm in both auditing and actuarial functions.
An alternative measurement method, for a sole employer with fewer than 100 members, uses a simplified actuarial valuation method that non-specialists can use.
Actuarial computation: The determination of the deductible amount for funding retiree medical benefits involves an actuarial calculation that considers the cost of the benefits likely to be paid in retirement, the value of the assets currently held in the trust, the participants' life expectancies and current employees' remaining working lives.
Baker reaffirms that taxpayers entering retirement communities may continue to deduct certain of their costs without a costly actuarial analysis.
Oates and Goelzer recognize, auditors have long provided non-audit tax services relating to appraisals, valuations, and actuarial services.