Actuary
Professional assessment of insurance risk
An Actuary is a person employed by the insurance industry to calculate the level of risk an applicant for an insurance policy presents. This isn't done on an individual basis, but on a demographic basis.
Various factors will be combined to provide a calculation of risk for someone or a situation which meets certain set criteria, and this calculation will be used to set the level of premiums to be paid.
For example, a young driver will automatically fall into a higher risk demographic than a more experienced one, and this is down to the rules that actuaries formulate.
