An actuary uses mathematical and other skills to solve problems related to insurance and pensions. Most actuaries work for insurance companies; others work for government agencies, for unions or as consultants. For example, actuaries:
- Design insurance plans and decide what the premiums should be so that the plan will be financially sound.
- Design pension plans and decide how much needs to be paid in each year to obtain a desired retirement income.
- Evaluate and compare investment options.
- Evaluate insurance policies to see if they are fair and sound.
Mathematics is an exciting and intellectually stimulating field whose frontiers are rapidly expanding. Mathematics provides the foundation for much of the natural and social sciences, as well as many other fields where quantitative reasoning is essential. The study of mathematics offers opportunities for creative effort and accomplishment, both within mathematics and through its application.