actuary:
( plural: ‘actuaries‘)
an actuary estimating a risk
a person whose job is to estimate and advise businesses, mostly insurance companies, on matters relating to insurance policy risks, dividends, annual rates, etc; a statistician,
an actuary estimating how much to be paid for the damage done to that insured car
There are different types of actuaries: investigating actuaries, appointed actuaries, scheme actuaries, consulting actuaries, etc. who help large businesses and insurance companies in determining the risks and profits in their respective businesses.
An actuary’s job involves analysing data to find out the likely cost of such an event as death, sickness, personal injury, and loss of life and/or property due to man-made or natural disasters.
About the Author:BC Kumar
BC Kumar, an English Language Teacher, taught in numerous countries including Ethiopia, Oman and India, shares his knowledge and passion for the English Language. Disclaimer: This is a free educational website and all content has been compiled by the author. All copyrights to images and videos belong to their respective owners.
