Definition

A professional who uses mathematics and statistics to assess financial risks, especially in the insurance industry, by calculating things like premiums and reserves.

Example

The actuary provided the insurance company with detailed risk assessments.

Conversation

Did you know that my cousin is an actuary?

Really? That sounds interesting! What does he do exactly?

He analyzes data to help companies figure out insurance risks.

Wow, that must be a challenging job!

Synonyms & Antonyms

Root Explanation

**Actuary** → It is formed from "actus" (meaning act or deed) and the suffix "-ary" (meaning relating to or connected with). An actuary is a professional who deals with the measurement and management of risk, particularly in the insurance and finance sectors, thus relating to the act of calculating and assessing risks.

Memory Tip

Think of 'act' ('actus') as relating to actions or deeds, and remember that an actuary is someone who assesses risks and actions in finance and insurance.

Visually Confused Words