Actuaries work behind the scenes with and for some of the world’s most essential businesses, including life insurance companies, property and casualty insurance companies, employee benefit consulting firms, and government agencies.

Through sophisticated modeling techniques, they help businesses anticipate the likelihood of an event with a financial impact occurring – and identify the cost of such events should they manifest themselves.

Protecting public interest

Did you know that behind every successful insurance claim, workers’ compensation claim, and pension or benefits plan there’s an actuary who ensures that insurers and/or employers are aware of the financial assets needed to help deliver financial security programs for the public? 

Every day, actuaries work behind the scenes to ensure financial security solutions are functional and sustainable for all Canadians. 

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Actuarial practice areas

Actuaries work all across Canada, and in a variety of practice areas beyond those featured above. These practice areas include:

Core skills of actuaries

While actuaries must mobilize a host of skills to do their jobs, there a few that are of paramount importance.

01 Math and analytical skills
Due to the nature of the problems they solve, actuaries must have exceptional mathematics skills – including probability and statistics.
04  Finance and business
In order to help businesses make intelligent financial decisions, as well as maximize their return on investments, actuaries must have a high degree of competency in both finance and business. 
02 Risk management
Since actuaries anticipate the likelihood of future events – and the risks associated with those events – they must be proficient in risk management. 
05 Professional judgment
Actuaries are largely responsible for analyzing the future and for making assumptions where concrete information may not exist, which requires a distinct ability to fill in the blanks and exercise professional judgment.
03 Communications

As with the actuarial profession overall, its challenges and the strategies to solve them are sophisticated and complex. Sound communication skills allow actuaries to explain their subject matter to their audiences in a way that is easy to understand.


About the CIA

The Canadian Institute of Actuaries (CIA) is the qualifying and governing body of the actuarial profession in Canada. We develop and uphold rigorous standards, share our risk management expertise, and advance actuarial science for the financial well-being of society.

Our more than 6,000 members apply their knowledge of math, statistics, data analytics, and business in providing services and advice of the highest quality to help ensure the financial security of all Canadians.


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