What does an Actuarial Analyst do?

Actuarial analysts use statistical models to analyze data and assess risk. They are employed in many industries, particularly in insurance, to utilize their knowledge and skills to design and price insurance policies. Actuarial analysts use advanced statistics and modeling to understand data and assist actuaries. They produce reports on findings and identify liabilities and risks. They also identify trends and methods for designing and pricing insurance policies while verifying data sources and identifying new sources of data.

Actuarial analysts develop financial projections, cost-benefit analysis, and insurance plans using statistics, modeling, and risk management strategies. Many actuarial analysts present their data and analysis directly to decision-makers within organizations, including executive leadership and management personnel, to answer questions about particular forecasts or models. Actuarial analysts need a minimum bachelor's degree in mathematics, statistics, or actuarial science.

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Average Years of Experience

0 - 1
49%
2 - 4
33%
5 - 7
2%
8+
16%

Common Skill Sets

Statistics
Microsoft Office Suite
Microsoft EXCEL
Regulators
Consulting
Python SAS
Team Work
SQL SAS

Actuarial Analyst Seniority Levels

Actuary
43% made the transition
Research Assistant
23% made the transition
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Actuarial Analyst Salaries

Average Base Pay

$76,328 /yr
Same as national average
Not including cash compensation
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$61K
Median: $76K
$96K
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Glassdoor Estimated Salary

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