Actuary is an insurance mathematics specialist who knows the theory of actuarial calculations . He is engaged in the development of a methodology and the calculation of insurance tariffs , calculations related to the formation of a reserve of insurance premiums for long-term types of insurance , the determination of the amount of redemption [1] and reduced insurance amounts [2] , as well as loans under life insurance and pension contracts.
Content
Field of Activities
In general, the knowledge of the actuary is used in the insurance and investment business - in both professions, it is necessary to assess the probabilities of cash flows.
In the insurance business, the actuary is engaged in:
- development of a methodology and calculation of insurance rates ;
- calculations related to the formation of a reserve of insurance premiums for long-term types of insurance;
- determination of the size of redemption and reduced insurance amounts ;
- determination of the size of loans under life insurance and pension contracts;
In the investment business, the tasks of the actuary include:
- development and application of risk assessment models;
- calculation of reserves of the investment fund (including mandatory by law);
See also
- Actuaries in Russia
Notes
- ↑ Redemption amount - Efimov S. L. Economics and insurance: Encyclopedic dictionary. - M .: Zerich-PEL, 1996 .-- 528 s. - ISBN 5-87811-016-4
- ↑ Reduction of the Sum Insured - S. Efimov. Economics and Insurance: Encyclopedic Dictionary. - M .: Zerich-PEL, 1996 .-- 528 s. - ISBN 5-87811-016-4
Links
- The history of the term “actuary” M. Masych, “Financial and commercial computer calculations”, Lecture notes. - Taganrog: Publishing house of TRTU, 2005
- About the actuary profession
- Actuaries Guild
- International Actuarial Association
- Methodology of actuarial calculations of NPFs
- Portal “Actuaries: problems, events, information”
- The actuarial profession
- Association of Professional Actuaries