actuarial assessment

Actuarial assessment involves using mathematics, statistics, and financial theory to evaluate risks, typically for insurance, pensions, or financial planning. Actuaries analyze data to estimate the likelihood and potential cost of future events, like accidents or deaths, to ensure organizations set aside appropriate reserves and determine fair premiums. This process helps balance risk exposure with financial stability, making sure that products and services are sustainable and equitable over time. Overall, it’s a careful, data-driven evaluation to manage uncertainty and plan for future financial needs effectively.