Actuary Science
About Actuary Science
Actuarial
science attempts to quantify the risk of an event occurring using
probability analysis so that its financial impact can be determined.
Actuarial science is typically used in the insurance industry by
actuaries. Actuaries analyze mathematical models to predict or forecast
the reasonableness of an event occurring so that an insurance company
can allocate funds to pay out any claims that might result from the
event. For example, studying mortality rates of individuals of a certain
age would help insurance companies understand the likelihood or
timeframe of paying out a life insurance policy.
Why is Actuary Science important?
Through
their knowledge of statistics, finance, and business, actuaries assess
the risk of events occurring and help create policies for businesses and
clients that minimize the cost of that risk. For this reason, actuaries
are essential to the insurance industry.
Who should take the Actuary Science Exam?
• Insurance professionals
• Anyone who wants to assess their Actuary Sciences
• Insurance managers and senior executives
• Professionals working in outsourced companies responsible for Actuary Science
• Any professional with skills and knowledge on Actuary Science
• Anyone interested in Actuary Science
• Anyone who wants to learn Actuary Science
Actuary Science Certification Course Outline
1. Mathematics
2. Business Finance
3. Insurance - Principles, Products and Practices
4. Actuarial Models