The role
What an actuary actually does, day to day.
As an actuary or actuarial analyst, you use maths and data to help insurance and pension companies make decisions. You look at past data (how many car accidents happen, how long people usually live), use probability and statistics to predict the future, then build financial models to work out what money companies should charge for insurance or save for pensions. You're basically answering the question: 'If we don't know what will happen, how much money is safe to hold back?'
Your work is mostly computer-based and office-based, using specialist software to analyse huge amounts of data and build mathematical models. You'll work with other departments - explaining to bosses what your numbers mean, checking that regulations are being followed, and presenting your findings so non-mathematicians can understand them. You need to be good with numbers and enjoy problem-solving, but you also need to explain complex ideas simply. You'll study for professional qualifications whilst working, which takes several years but leads to well-respected credentials.
Day to day
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