Description
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.
Interests
- Conventional
- Investigative
- Enterprising
Work Values
- Working Conditions
- Achievement
- Independence
Work Styles
- Analytical Thinking
- Attention to Detail
- Integrity
- Dependability
- Achievement/Effort
Tasks
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- 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.
- 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.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Work Activities
- Analyzing Data or Information
- Processing Information
- Working with Computers
- Getting Information
- Making Decisions and Solving Problems
Detailed Work Activities
- Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Working with Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
- Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
- Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
- Evaluating Information to Determine Compliance with Standards - Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
- Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
Technology Skills
- Data base user interface and query software
- Presentation software
- Financial analysis software
- Analytical or scientific software
- Object or component oriented development software
Skills
- Critical Thinking
- Judgment and Decision Making
- Mathematics
- Reading Comprehension
- Active Listening
Knowledge
- Mathematics
- Computers and Electronics
- Economics and Accounting
- English Language
- Law and Government
Most Common Education Level
The “Most Common Education Level” refers to the level of education held by the majority of workers in a given occupation. For example, if the highest percentage of workers in a role have an Associate’s Degree, that suggests this is the typical educational requirement. Knowing this helps you plan how many years of education you may need to pursue that career.
Certificates
Certificate name
Associate in the Casualty Actuarial SocietyCertifying Organization
Casualty Actuarial Society
Type
Advanced
Certificate name
Retirement Plans AssociateCertifying Organization
International Foundation of Employee Benefit Plans
Type
Core
Certificate name
Fellow of the Society of ActuariesCertifying Organization
Society of Actuaries
Type
Advanced
Income Percentile
The income percentiles show how earnings are distributed within a profession. The 10th percentile means that 10% of workers earned less than that amount. The median (50th percentile) indicates that half of workers earned more, and half earned less. The 90th percentile reflects what the top 10% of earners in the field make.
| Income Percentile | Income |
|---|---|
| Low (10%) | $NaN |
| Median (50%) | $NaN |
| High (90%) | $NaN |
Income by Experience
This table shows how income typically grows with experience—from entry level (0–2 years), to mid-level (3–7 years), to senior level (8+ years).
| Experience | Income |
|---|---|
| Entry Level | $50,000 |
| Mid Level | $100,000 |
| Senior Level | $150,000 |
Employability
There are currently 30,200 jobs in this career path. Over the next 10 years, that number is expected to increase to 36,800 positions, reflecting a projected growth of 22%.
The Projected Job Growth figure refers to the expected increase or decrease in employment within a specific career field over a certain period of time.
Projected Job Growth of 22%
The career information and data on this site incorporates information from O*NET Web Services by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), with ONET® being a registered trademark of USDOL/ETA. Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA; CareerOneStop, sponsored by the U.S. Department of Labor, Employment and Training Administration (DOLETA) and the Minnesota Department of Employment and Economic Development (DEED); and the U.S. Bureau of Labor Statistics (BLS).
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