Actuarial:

Actuarial is simply to analyze, evaluate and manage the future risks in various economic activities by using various scientific and effective methods such as modern mathematics, statistics, finance and law according to the basic principles of economics, which is the basis for modern insurance, finance and investment to achieve stable operation. Actuarial science became a formal mathematical discipline in the late 17th century. These long-term guarantees require funds to be saved for future insurance payments. Therefore, it is necessary to evaluate uncertain events in the future, such as the change of mortality rate with age, and to continuously develop mathematical techniques for discounting savings and investment funds.

the analysis, evaluation and management of future risks in economic activities are the basis for modern insurance, finance and investment to achieve stable operation. Actuaries are generally regarded as specialized and compound senior financial talents who have received systematic and comprehensive actuarial basic education and comprehensive practical actuarial vocational training, and have integrated professional technology and management skills. With the increasing demand for long-term insurance protection (such as funeral, life insurance and annuity), actuarial science became a formal mathematics discipline at the end of the 17th century. These long-term guarantees require funds to be saved for future insurance payments. Therefore, it is necessary to evaluate uncertain events in the future, such as the change of mortality rate with age, and to continuously develop mathematical techniques for discounting savings and investment funds. All these have led to the development of an important actuarial concept, which is closely related to the present value of a future fund. As a result of collective bargaining, endowment insurance and health insurance appeared in the early 2th century. Some aspects of actuarial methods used for discounting pension funds arise from people's criticism of modern financial economy.

Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.