The insurance industry can’t function without actuaries. We calculate their costs and determine the premiums for policyholders; and while we don’t forecast the weather, we can tell them how much they can expect to pay in claims after the next Florida hurricane.
Private corporations rely on our risk evaluation to frame their strategic management decisions. And because our judgment is highly valued, our career paths often lead to upper management and executive positions.
We’re also employed as consultants. Whether we’re part of a nationwide firm or an independent one-person practice, we help companies design pension and benefit plans, evaluate assets and liabilities, and stare down risk–all alongside top executives.
We work for the government too, helping manage its programs and overseeing public companies to ensure compliance with regulatory laws.
We also work for:
- Colleges and universities
- Banks and investment firms
- Public accounting firms
- Labor unions
- Rating bureaus
- Fraternal organizations
You can see that there’s ample opportunity for actuaries. You can also see the breakdown of where we work by region and get a deeper understanding of what we do.