actuarial analysis

Actuarial analysis involves using mathematics, statistics, and data to assess and manage financial risks, primarily in insurance and pensions. Actuaries evaluate factors like age, health, or other variables to predict future events, such as accidents or death, and determine appropriate costs and reserves. This process helps companies set fair premiums, ensure financial stability, and plan for future liabilities. Essentially, actuaries translate complex data into informed decisions that balance risk and affordability, ensuring the financial health of insurance systems and related industries.