Actuaries apply their knowledge of math, statistics, data analytics and business to provide high quality services and advice to help Canadian people and organizations face the future with confidence.
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.
- 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.
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.
Devoted to teaching and researching actuarial mathematics, finance, probability and statistics.
Reporting and testifying as an expert during adversarial proceedings.
Identifying, quantifying and managing credit, liquidity and market risk as part of prudent financial management.
Ensuring insurers are aware of the potential risks associated with climate change.
Enterprise risk management
Identifying, assessing and managing risk to support strategic plans and goals.
Designing sustainable benefit packages and addressing public policy needs.
Shaping the financial stability of necessary individual protections and driving decisions in new and innovative insurances.
Building the confidence of Canadians in financial systems.
Modelling, pricing and reporting for group life and health insurance, reinsurance and more.
Evaluating and safeguarding the retirement livelihoods of Canadians.
Using data science to identify opportunities and anticipate problems before they actually happen.
Property and casualty insurance
Protecting your homes, boats, cars and businesses.
Providing wage replacements and health care in the case of workplace injury or disease.
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.