An Actuary is a person employed by an insurance or pension provider to calculate factors such as life expectancy, accident rates and likely payouts in the event of accident or injury. This helps to determine the cost of insurance.
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Why would you need an Actuary? These experts manage risk! If you are planning on expanding, forming a partnership or creating a joint venture you may need the help of an Actuary to use numbers as a way of predicting the future and reducing the likelihood of things going wrong for your business. Actuaries rely on experience as well as financial knowledge and an understanding of human behaviour to provide their expert advice.
