Actuaries are experts in assessing the financial impact of tomorrow"s uncertain events by analyzing the past, modelling the future, assessing the risks involved and communicating what the results mean in financial terms. Actuarial Science essentially deals with calculation of insurance risks and premiums. It applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. Actuarial science includes a number of interrelating disciplines, including probability and statistics, finance, and economics. A creative aspect of the work of Actuaries is fore casting of future possible contingencies by applying mathematical statistical and economic analysis to a wide range of practical problems in insurance, investment, financial planning and management there by they make decisions concerned with the financial soundness of Insurance companies and pension funds. Actuaries, who are the cerebral centre of any financial sector by virtue of their analytical and incisive out look, make significant contributions in the fields like demography social welfare etc. A full-fledged actuary will have the qualities of single minded devotion total dedication and a systematic bent of mind. In an insurance company, an actuary can take a job in accounts, investment, administration and development fields.
|