Insurance Term Definition
Actuary:
• A specialist in the mathematics of risk, especially as it relates to insurance calculations such as premiums, reserves, dividends, insurance and annuity rates.
Appointed Actuary:
• An actuary who has been duly appointed by an insurer’s board of directors to render an official opinion as to the insurer’s financial condition; any individual who is appointed or retained in accordance with the requirements set forth in the Actuarial Opinion and Memorandum Regulation
Marketing Actuary:
• The marketing actuary at Transamerica Reinsurance drives the growth of our business by working with the sales team to leverage customer relationships and execute account and business acquisition strategies.
Pricing Actuary:
• At Transamerica Reinsurance, the pricing actuary supports the pricing of new business, involving risk analysis, building projection models and working with our sales team to customize solutions for clients.
Valuation Actuary:
• A valuation actuary at Transamerica Reinsurance builds and maintains complex actuarial models to support embedded value assumptions, cash flow testing, valuation responsibilities, annual budget projections and other functions.
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