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.

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Personality Type

  • Investigative / 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.

  • Financial markets

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

  • 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.

Skills

  • Obtain financial information

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

  • 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.

  • 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.

  • 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.

Optional knowledge and skills

produce statistical financial records principles of insurance advise on insurance policies analyse insurance risk provide cost benefit analysis reports analyse financial risk risk management consult credit score types of insurance create insurance policies insurance market perform risk analysis examine credit ratings insurance law