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Actuarial: meaning, definitions and examples

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actuarial

 

[ ækˈtʃʊəriəl ]

Adjective
Context #1 | Adjective

related field

The term 'actuarial' pertains to the profession of actuaries, who specialize in evaluating financial risks using mathematics, statistics, and financial theory. Actuarial work is primarily related to the insurance and finance industries, where actuaries analyze data to help assess the probability of events occurring. This enables companies to make informed decisions regarding policy pricing and risk management. The work of actuaries is essential in ensuring that insurers remain solvent and able to pay out claims in the event of unforeseen incidents.

Examples of usage

  • Actuarial science is crucial in determining insurance premiums.
  • She has a degree in actuarial mathematics.
  • Actuarial reports provide insight into risk management.
  • He works as an actuarial analyst for an insurance company.

Translations

Translations of the word "actuarial" in other languages:

🇵🇹 atuarial

🇮🇳 बीमा गणना से संबंधित

🇩🇪 aktuarisch

🇮🇩 aktuaris

🇺🇦 актуарний

🇵🇱 aktuarialny

🇯🇵 アクチュアリーの

🇫🇷 actuariel

🇪🇸 actuarial

🇹🇷 aktüeryal

🇰🇷 보험계리의

🇸🇦 اكتواري

🇨🇿 aktuarialní

🇸🇰 akturialny

🇨🇳 精算的

🇸🇮 aktuarialen

🇮🇸 actuarial

🇰🇿 актуарлық

🇬🇪 აქტუარიული

🇦🇿 aktüarial

🇲🇽 actuarial

Etymology

The word 'actuarial' has its roots in the Latin word 'actuarius', which means 'agent' or 'bookkeeper'. It is derived from 'actus', meaning 'action' or 'deed'. The term began to be used in English during the late 19th century, particularly in connection with the field of insurance, where representation of risk through numerical methods became crucial. Actuaries emerged as professionals who assess and manage financial risk using statistical methods, providing essential services to the insurance sector. Over time, 'actuarial' has come to represent the body of knowledge and practices associated with this profession, emphasizing the importance of quantitative analysis in evaluating uncertain future events.

Word Frequency Rank

At position #13,336, this word is part of sophisticated English vocabulary. It's useful for academic or professional contexts where precise language is needed.