What is the scope of Actuarial Science?

manpreet Best Answer 2 years ago

Actuarial Science aims to understand, identify and quantify all risks in the market for financial and non-financial aspects and make sense of future. Insurance industry use Actuarial professionals to assess both economical and non-economical risks to take informed decisions. Actuarial professional undertake research and their research outcomes become crucial ingredients in modelling emerging risks and uncertainties. It is one of highest paid and respected profession in Insurance industry. There is a general shortage of Actuarial professionals across the world.