Actuarial professionals are an integral part of the insurance industry. Their broad responsibilities include assessing and managing financial risks, determining premium pricing, estimating the reserves put aside to cover prospective claims and liabilities, and creating financial models.

The actuarial profession plays a major role in mitigating risks in the insurance industry by leveraging data analytics and financial modeling to stimulate the process of strategic decision-making. Despite the crucial role played by actuarial professionals in their work, they face myriad challenges inherent in their processes.