actuary

actuary A person trained in the mathematics of statistics and probability theory. Some are employed by insurance companies to calculate probable lengths of life and advise insurers on the amounts that should be put aside to pay claims and the amount of premium to be charged for each type of risk. Actuaries also advise on the administration of pension funds; the government actuary is responsible for advising the government on National Insurance and other state pension schemes. See also INSTITUTE OF ACTUARIES.