Every person and organization faces risks and it comes in many forms. Actuaries are experts in measuring and managing risk. Actuaries play a key role in insurance companies; they design insurance plans, determine the premium, monitor the profitability of insurance companies and recommend corrective action when appropriate. They also ensure that insurance companies have set aside enough funds to pay claims and provide advice on how to invest the insurance companies’ assets. We reduce our risk of financial loss by transferring it to an insurance company that accepts the risk for a price (which is the insurance premium). An actuarial career can be one of the most diverse, exciting and rewarding in the world. In fact, the difficult examinations and the expertise required are the reasons that being an actuary is highly regarded
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