Actuarial Science

Actuarial science involves the application of mathematical and statistical methods to assess and manage financial risks, particularly in insurance and finance.

Actuaries use complex mathematical models to analyze data and predict future events, such as the likelihood of an insurance policyholder making a claim, and to develop strategies to manage and mitigate risk.

Applications:

• Risk assessment and management in insurance,
• Development of pricing models for insurance products,
• Evaluation of financial risk in investments