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Actuaries are professionals who use math, statistics and big data to model the future in ways that help Canadian people and organizations manage risk. Actuaries who are qualified as CIA members work for some of the world’s most essential businesses, including insurance companies, pension plans, consulting firms and government agencies. 

With a unique understanding of the Canadian context and the ability to assess risk, our actuaries provide clarity and guidance to help navigate what’s ahead. Through integrity, insight and foresight, they are able to model change, empower decision-making, improve futures for people in Canada and beyond, and have a wide impact on the greater good. 

Core skills

  • Math and statistical analysis: Actuaries use statistical models and techniques to analyze data to estimate future events, such as mortality rates, accident frequency and claim amounts.
  • Risk management: Actuaries analyze data, trends and historical patterns to anticipate the likelihood and potential impact of future events – and develop strategies to mitigate them – related to, for example, life expectancy, property damage, natural disasters, accidents, health care costs and investment returns.
  • Communication: Actuaries explain complex concepts and strategies in a way that is easy to understand for various stakeholders, such as executives, clients, regulators and the general public.
  • Finance and business: Actuaries project and quantify the financial consequences of potential events, helping organizations manage their financial resources effectively and make informed decisions about pricing, investment strategies and risk management.
  • Professional judgment: Actuaries analyze the future and make assumptions where concrete information may not exist, adhering to strict ethical standards and guidelines.

Protecting public interest

Behind every successful insurance claim, workers’ compensation claim and pension or benefits plan, there are actuaries who ensure that insurers, employers and governments are delivering these important financial security programs to the public. They promote transparency and fairness in pricing and market availability, ensure the long-term sustainability of these arrangements, help organizations comply with regulatory requirements and safeguard the public’s financial well-being.

Actuaries qualified as members of the CIA adhere to a strict code of professional ethics and conduct, which includes principles such as honesty, integrity and objectivity. By upholding these ethical standards, actuaries ensure that their decisions and recommendations are made in the best interest of the public.

Practice Areas

Life insurance, property and casualty insurance, employee benefits, pension plans and more. Actuaries are at work every day planning and mitigating future events. Due to the wide applicability of their skills, actuaries work in a variety of practice areas.

Academia

Devoted to teaching and researching actuarial mathematics, finance, probability and statistics.

Academia

Actuarial evidence

Reporting and testifying as an expert during adversarial proceedings.

Actuarial evidence

Banking

Identifying, quantifying and managing credit, liquidity and market risk as part of prudent financial management.

Banking

Climate

Ensuring insurers are aware of the potential risks associated with climate change.

Climate

Enterprise risk management

Identifying, assessing and managing risk to support strategic plans and goals.

Enterprise risk management

Health

Designing sustainable benefit packages and addressing public policy needs.

Health

Individual insurance

Shaping the financial stability of necessary individual protections and driving decisions in new and innovative insurances.

Individual insurance

Investments

Building the confidence of Canadians in financial systems.

Investments

Life insurance

Modelling, pricing and reporting for group life and health insurance, reinsurance and more.

Life insurance

Pensions

Evaluating and safeguarding the retirement livelihoods of Canadians.

Pensions

Predictive analytics

Using data science to identify opportunities and anticipate problems before they actually happen.

Predictive analytics

Property and casualty insurance

Protecting your homes, boats, cars and businesses.

Property and casualty insurance

Workers’ compensation

Providing wage replacements and health care in the case of workplace injury or disease.

Workers’ compensation

Students, find out why it’s great to become an actuary!

The world is constantly changing. Actuaries manage risk to make sure we’re prepared for whatever challenges we might face. Want to solve problems to make Canada strong for future generations? A career as an actuary might be a perfect fit.

Do the Math

If you want to change the world for your family, friends and future generations, consider taking math courses today to start your journey to becoming an actuary.

Become an actuary