noun
actuary
AK-choo-air-ee/ˈæktʃueri/
A professional who uses statistics to calculate insurance and financial risks.
The actuary studies a probability table to calculate insurance risks.
Etymology
Here “doing” takes the specialized sense of public business, behind the older meaning of account-keeper or clerk. The English word later came to designate someone skilled in calculating chances and costs, especially for insurers.
In context
it comes from the actuary and then yes but it has to go into the budget
More examples
- Our actuary estimates how much the pension fund needs.
- Insurance companies hire actuaries to help set premiums.
- An actuary uses past claims to predict future costs.
Forms
actuary · actuaries
actuarial adjective — Relating to statistical calculations of financial risk.
Similar words
- statistician
- Analyzes data broadly, rather than specializing in insurance and financial risk.
- underwriter
- Evaluates insurance applications rather than statistically modeling overall risk.