Insurance Word of The Week (3)

For our third week, we have chosen – Actuary.

Definition
An insurance professional skilled in the analysis, evaluation and management of statistical information. Evaluates insurance firms’ reserves, determines rates and rating methods, and determines other business and financial risks.

Alternatively….
Actuaries provide commercial, financial and prudential advice on the management of assets and liabilities – especially where long term management and planning are critical factors.

They evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events.

Further information: The Institute of Actuaries.

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Hi My name is Andrew and my area of expertise is car insurance. I have many years experience within the industry and have built up a considerable amount of knowledge.

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Posted in Insurance Glossary, Insurance Marketing

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