Definition

Related to the work of professionals who analyze financial risks using mathematics and statistics, often focusing on areas like life insurance and pensions.

Example

The actuarial analysis provided insights into the insurance policy's risk factors.

Conversation

I just learned about actuarial science in my statistics class.

That sounds interesting! What does it involve?

It's all about using math to predict things like life expectancy.

Wow, that must be really useful for insurance companies!

Synonyms & Antonyms

Root Explanation

Actuarial → It is formed from "actuarius" (from Latin, meaning pertaining to an action or a deed) and the suffix "-al" (meaning relating to). The word "actuarial" refers to matters relating to the calculation of risk and uncertainty, particularly in insurance and finance.

Memory Tip

Think of 'action' ('actuarius') when remembering that 'actuarial' relates to calculating risks and actions in finance.

Visually Confused Words