Profession actuarial assistant

Actuarial assistants perform statistical data research in order to set premium rates and insurance policies. They review the possibility of accidents, injuries and property damage by using statistical formulas and models.

Personality Type

• Investigative / Realistic
• Conventional / Realistic

Knowledge

• Actuarial science

  The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.

• Statistics

  The study of statistical theory, methods and practices such as collection, organisation, analysis, interpretation and presentation of data. It deals with all aspects of data including the planning of data collection in terms of the design of surveys and experiments in order to forecast and plan work-related activities.

• Statistical analysis system software

  Specific software system (SAS) used for advanced analytics, business intelligence, data management, and predictive analytics.

• Financial markets

  The financial infrastructure which permits trading securities offered by companies and individuals govern by regulatory financial frameworks.

Skills

• Carry out statistical forecasts

  Undertake a systematic statistical examination of data representing past observed behaviour of the system to be forecast, including observations of useful predictors outside the system.

• Calculate insurance rate

  Gather information on your client's situation and calculate their premium on the basis of various factors such as their age, the place where they live and the value of their house, property and other relevant assets.

• Compile statistical data for insurance purposes

  Produce statistics on potential risks such as natural and technical disasters and production downtimes.

• Obtain financial information

  Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

• Apply statistical analysis techniques

  Use models (descriptive or inferential statistics) and techniques (data mining or machine learning) for statistical analysis and ICT tools to analyse data, uncover correlations and forecast trends.

• Analyse market financial trends

  Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

Optional knowledge and skills

Source: Sisyphus ODB