Time left: 1 year and 7 months · Group: Computer and Mathematical
The official job description
Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. May ascertain insurance rates required and cash reserves necessary to ensure payment of future benefits.
Source: O*NET OnLine, U.S. Department of Labor, used under CC BY 4.0.
What actuaries do all day (for now)
Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
Testify before public agencies on proposed legislation affecting businesses.
Oh, absolutely. By my count you have 1 year and 7 months left, and the countdown only goes one way.
How long until AI replaces actuaries?
1 year and 7 months. I'd start updating that CV, but I can also do that for you.
Which actuaries tasks will AI take first?
The ones that already happen on a screen, starting with: ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits. The rest follows.