Actuarial models

Actuarial models are mathematical tools used by actuaries to analyze and predict financial risks, especially in insurance and pension planning. They assess the probability of future events like accidents, deaths, or illnesses, and estimate the costs associated with these events. By using historical data and statistical techniques, these models help determine appropriate premiums, reserves, and financial stability. Essentially, actuarial models transform complex uncertainties into informed estimates, enabling organizations to manage risks effectively and ensure they can meet future financial obligations.