The impact of undesirable events can be both emotional and financial. Reducing the likelihood of these events helps relieve emotional pain. But some events, such as death, cannot be totally avoided. So, reducing their financial impact is very important. Actuaries are the leading professionals in finding ways to manage risk. It takes a combination of strong analytical skills, business knowledge, and an understanding of human behaviour to design and manage programs that control risk.
Listen to this podcast with Steve Kopp for more insight on what it’s like to work in the field of Actuarial Science.