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Glossary Y

Yield enhancement Strategies to increase investment returns. Actuarial Science Vs. Finance: Career Prospects (Unpacked) Life Vs Non-Life: Actuarial Practice (Compared)

Glossary W

Waiting period The time between when a policy is purchased and when coverage begins. Health Vs Life: Actuarial Specialties (Decoded) Webinars and online training programs… Read More »Glossary W

Glossary V

Valuation techniques Methods used to determine the value of assets or liabilities, such as discounted cash flow analysis or market comparables. Actuary: Consulting Vs Corporate… Read More »Glossary V

Glossary U

Ultimate loss estimate The estimated total amount of losses that an insurance company will incur from a particular event or set of events. Actuary: Reserving… Read More »Glossary U

Glossary T

Tactical asset allocation Investment strategy that adjusts portfolio holdings based on market conditions and trends. Risk Management Vs. Actuarial: Career Paths (Defined) Actuarial Science Vs.… Read More »Glossary T

Glossary S

Safety measures in place Precautions taken to prevent accidents or injuries in the workplace. Actuary: Personal Lines Vs Commercial Lines (Unpacked) Salary and benefits Total… Read More »Glossary S

Glossary R

Random forest algorithm A decision tree-based algorithm used for classification and regression analysis. Actuary: Predictive Modeling Vs Traditional (Unpacked) Random forests A machine learning algorithm… Read More »Glossary R

Glossary Q

Qualification Meeting the requirements to become a certified actuary. How Do I Obtain Actuarial Qualifications? (8 Most Common Questions Answered) How Can I Obtain Professional… Read More »Glossary Q

Glossary P

Pain and suffering Physical and emotional distress caused by an injury or accident, often used in legal cases to determine compensation. Actuary: Workers Compensation Vs… Read More »Glossary P

Glossary O

Occupation A person’s job or profession. Actuary Vs Underwriter: Roles in Insurance (Explained) Health Vs Life: Actuarial Specialties (Decoded) Actuarial: Annuities Vs. Life Insurance Roles… Read More »Glossary O

Glossary N

Natural disasters Catastrophic events caused by natural forces such as hurricanes, earthquakes, and floods. Actuary: Catastrophe Modeling Vs. Traditional (Compared) 5 Ways Actuaries Use Data… Read More »Glossary N

Glossary M

Machine learning A branch of artificial intelligence that focuses on developing algorithms and models that enable computers to learn from data and improve their performance… Read More »Glossary M

Glossary L

Lack of access to employer-sponsored training programs A situation where an employee does not have access to training programs provided by their employer. Actuary: Full-Time… Read More »Glossary L

Glossary K

Kurtosis A measure of the shape of a probability distribution. Actuary: Predictive Modeling Vs Traditional (Unpacked)

Glossary J

Job market competitiveness The level of competition for available jobs in a particular field. Actuarial Analyst Vs. Actuary: Career Progression (Unpacked) Job market demand The… Read More »Glossary J

Glossary I

Immediate annuities A type of annuity that begins paying out immediately after the initial investment. Pension Vs. Investment: Actuarial Focus (Defined) Incontestable Clause A provision… Read More »Glossary I

Glossary H

Hazard mapping The process of identifying and mapping potential hazards in a given area. Property Vs. Casualty: Actuarial Fields (Compared) Health and lifestyle factors Personal… Read More »Glossary H

Glossary G

Gender The classification of individuals as male or female. Actuary Vs Underwriter: Roles in Insurance (Explained) Health Vs Life: Actuarial Specialties (Decoded) Actuarial: Annuities Vs.… Read More »Glossary G

Glossary F

Factor analysis A statistical method used to identify underlying factors that contribute to observed data. Actuary Vs Statistician: Job Differences (Clarified) Facultative reinsurance A type… Read More »Glossary F

Glossary E

Earned premiums The amount of money an insurance company receives from policyholders in exchange for coverage. Actuary: Auto Insurance Vs Health Insurance (Explained) Econometric modeling… Read More »Glossary E

Glossary D

Damages Financial compensation awarded to a party who has suffered harm or loss due to the actions of another party. SOA Vs. CAS: Actuarial Certifications… Read More »Glossary D

Glossary C

Capital Adequacy Assessment The process of evaluating a bank’s capital adequacy and risk management practices. Actuary: Risk Assessment Vs. Risk Management (Clarified) Capital adequacy ratios… Read More »Glossary C

Glossary A

Accelerated Death Benefit Rider Accelerated Death Benefit Rider – An insurance policy add-on that allows the policyholder to receive a portion of the death benefit… Read More »Glossary A