An individual who uses advanced mathematics to compile and analyze data and statistics to calculate insurance risks and determine appropriate premium rates for insurance and annuity products.
They are responsible for developing a variety of mathematical models to study the rates and timings of a wide range of events including death, accidents, and illness. They use historical data to study how these events have unfolded in the past, and then use The Law Of Large Numbers to make statistically-based and accurate predictions of future events.
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