Definitions

1. noun

A person who computes the probability of an event occurring and the potential cost of that event, especially in relation to insurance policies.

“The insurance company hired an actuary to analyze the risk of natural disasters.”

2. noun

A person skilled in calculating mathematical probabilities, especially in the field of insurance.

“He became an actuary after completing his degree in mathematics.”

3. verb

To calculate or estimate the probability of something happening, especially in relation to insurance or financial risk.

“The company’s actuaries estimated that the new policy would not be profitable.”