Overview

actuary


Show Summary Details

Quick Reference

An expert who uses statistical records to predict the future. An actuary uses records of the occurrence of uncertain events, such as death at given ages, or fire, theft, and accidents to cars, to predict how frequently similar events are likely to occur in the future. These predictions take account of observed trends in health or crime, as well as past facts. Actuarial expertise enables insurance companies to write policies with an expectation of making profits, but not with complete reliability.

Subjects: Economics.


Reference entries

See all related reference entries in Oxford Index »


Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.