Actuaries
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Tasks Include:
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Testify before public agencies on proposed legislation affecting businesses.
- Provide advice to clients on a contract basis, working as a consultant.
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The data sources for the information displayed here include: O*NET™; US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Projections Quick View:
Virginia: +28.8%
National: +20.8%
Education
Bachelor's Degree
Job Zone:
Four: Considerable Preparation Needed
Income Range:
Highest ($50,000 and up)
Median Earnings:
National
$113,990.00
State
$114,230.00
Regional
