Page 71 - M1_Insurance Introduction Notes

Important parts of insurance business

1. ACTUARY

An ACTUARY is a person who has passed

specialized examinations ducted by the Actuarial

Society of India or the Institute of Actuaries,

London. Actuaries are technical experts who have

received specialist training in the mathematics of

insurance. Their job is to ensure that the

insurance products provided by the company are

mathematically sound. They undertake various

activities like calculation of mortality rates,

estimating expenses to be incurred by the

insurance company in administrating various

policies, and determining the rate of return that

will be earned by the company on its investments.

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