What is actuarial science?

What is actuarial science?

Actuarial science is the mathematical science of designing insurance and pension plans to make sure they are maintained on a sound financial basis.

**Actuaries**use statistical data to determine probabilities of insurance claims and retirement. They may set up pension and welfare plans, calculate future benefits, and determine the amount of employer contributions.

**What is a problem an actuary might work on?**

Actuaries use probabilities to determine the price charged for insurance that will enable the insurance company to pay all claims and expenses and also make a profit.

**Who hires actuaries?**

The Federal government, State governments, and insurance companies. Some actuaries work as consultants contracting out their services to insurance companies, corporations, unions, government agencies, and attorneys.

**Where can you study actuarial science in California?**

UC Santa Barbara's actuarial studies program

**Meet an actuary**

**Meet another actuary**