Will “Actuarial Analyst” be Replaced By Robots? 🤔
21% Chance of Automation
“Actuarial Analyst” will almost certainly not be replaced by robots.
This job is ranked #209 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.
Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍
Job Description
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Job Details
- The SOC (Standard Occupational Classification) code is 15-2011.00
- The Mean Annual Wage in the U.S. is $ 114,120.00
- The Mean Hourly Wage is $ 54.00
- Currently, there are 19,940 people on this job
☝️ Information based on the reference occupation “Actuaries”.
Also Known As…
- Actuaries
- Product Development Actuary
- Pricing Analyst
- Pricing Actuary
- Health Actuary
- Consulting Actuary
- Actuary
- Actuarial Consultant
- Actuarial Associate
- Actuarial Assistant
- Insurance Actuary
- Actuarial Mathematician
- Actuarial Manager
- Actuarial Analyst
Tasks for “Actuarial Analyst”
- Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.
- Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.
- Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
- Determine policy contract provisions for each type of insurance.
- Testify before public agencies on proposed legislation affecting businesses.
- Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Manage credit and help price corporate security offerings.
- Provide advice to clients on a contract basis, working as a consultant.
- Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Explain changes in contract provisions to customers.
Related Technology & Tools
- 10-key calculators
- Personal computers
- Desktop computers
- Notebook computers
- ARMON Technologies XLActuary
- Milliman Corporate Affinity
- Microsoft Word
- SAS
- IBM Lotus Notes
- Structured query language SQL
- Spreadsheet software
- Milliman ReservePro
- PolySystems Asset Delphi
- SS&C PTS
- Microsoft PowerPoint
- Oak Mountain Software AnnuityValue
- Microsoft Visio
- Wolfram Research Mathematica
- Lewis & Ellis LEAPPS
- GGY AXIS
- Appraisal software
- Microsoft Excel
- Microsoft Office
- Insureware ICRFS-ELRF
- SPSS
- C++
- Microsoft Visual Basic
- Presentation software
- Pricing software
- SAP BusinessObjects Desktop Intelligence
- Insightful S-PLUS
- Data entry software
- dBASE Plus
- Statistical software
- Word processing software
- Compliance testing software
- Cash flow software
- R
- Microsoft Visual FoxPro
- Microsoft Access