Nuts and Bolts

It is funny – the actuarial world. It is generally true that most actuaries one would meet expect or assume that the rest of the insurance world has an idea what is involved in actuarial pricing. Yet most people outside of the actuarial circle see what actuaries do as a mystical science that mere mortals were never supposed to understand. So this instalment of Nuts & Bolts is going to look at what it is like to be a pricing actuary, what they do and the problems they face. Firstly, what do pricing actuaries do? As most would expect, the job is to calculate the price that the eventual ...