[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-398836-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-398836-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","what-is-an-actuary-what-do-actuaries-do-we-manage-risk-auto-pricing-101","WHAT IS AN ACTUARY? - What do actuaries do? - We manage risk - Auto pricing 101","","Actuaries are experts who evaluate the likelihood of future events using quantitative methods, design strategies to reduce the likelihood of undesirable outcomes, and decrease the impact of events that do occur. The materials explain how actuaries manage risk by combining analytical skills with business knowledge and an understanding of human behavior. A practical “Auto Pricing 101” section works through simplified insurance pricing: calculating minimum premiums and adjusting premiums by gender based on accident rates.",{"@graph":14,"@context":73},[15,34,56],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/document/","Document",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/document/exam/","Exam",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/document/what-is-an-actuary-what-do-actuaries-do-we-manage-risk-auto-pricing-101/398836/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/what-is-an-actuary-what-do-actuaries-do-we-manage-risk-auto-pricing-101/398836.png","ImageObject",300,407,{"name":42,"@type":43},"นรินทร์","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-11-01","2026-09-27",true,{"@type":52,"interactionType":53,"userInteractionCount":55},"InteractionCounter",{"@type":54},"ViewAction",9,{"@type":57,"mainEntity":58},"FAQPage",[59,65,69],{"name":60,"@type":61,"acceptedAnswer":62},"What is an actuary, according to the document?","Question",{"text":63,"@type":64},"An actuary is an expert who evaluates the likelihood of future events and helps manage risk using numbers rather than “crystal balls.”","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"How do actuaries manage risk?",{"text":68,"@type":64},"Actuaries use analytical skills, business knowledge, and an understanding of human behavior to manage complex risks facing society.",{"name":70,"@type":61,"acceptedAnswer":71},"In the Auto Pricing 101 example, what is the minimum premium for an 18-year-old driver for one year?",{"text":72,"@type":64},"The minimum premium is $150 per driver, based on estimated accident cost of 300 × $500 = $150,000, divided by 1,000 drivers.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},398836,1791176397,{"code":4,"msg":82,"data":83},"success",[84,88,92,95,100,105,110,115,119,122,126],{"id":22,"doc_module":4,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},"Story & Novel",90,"story-novel",{"id":26,"doc_module":4,"doc_module_name":25,"category_name":89,"show_sort_weight":90,"slug":91},"Literature",80,"literature",{"id":33,"doc_module":4,"doc_module_name":25,"category_name":29,"show_sort_weight":93,"slug":94},70,"exam",{"id":96,"doc_module":4,"doc_module_name":25,"category_name":97,"show_sort_weight":98,"slug":99},5,"Comic",60,"comic",{"id":101,"doc_module":4,"doc_module_name":25,"category_name":102,"show_sort_weight":103,"slug":104},6,"Technology",50,"technology",{"id":106,"doc_module":4,"doc_module_name":25,"category_name":107,"show_sort_weight":108,"slug":109},7,"Healthcare",40,"healthcare",{"id":111,"doc_module":4,"doc_module_name":25,"category_name":112,"show_sort_weight":113,"slug":114},8,"Research & Report",30,"research-report",{"id":55,"doc_module":4,"doc_module_name":25,"category_name":116,"show_sort_weight":117,"slug":118},"Religion & Spirituality",20,"religion-spirituality",{"id":117,"doc_module":4,"doc_module_name":25,"category_name":120,"show_sort_weight":117,"slug":121},"World Cup","world-cup",{"id":123,"doc_module":4,"doc_module_name":25,"category_name":124,"show_sort_weight":123,"slug":125},10,"Lifestyle","lifestyle",{"id":127,"doc_module":4,"doc_module_name":25,"category_name":128,"show_sort_weight":96,"slug":129},19,"General","general",{"code":4,"msg":82,"data":131},{"doc_id":79,"user_id":132,"nickname":42,"user_avatar":133,"doc_module":4,"category_id":33,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":139,"language":140,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":12,"update_tm":144,"read_time":145,"preview_page_count":4},2336475104957,"https://ap-avatar.wpscdn.com/avatar/22000c4c6bd8a5076e1?x-image-process=image/resize,m_fixed,w_180,h_180&k=1787554080175789136","# WHAT IS AN ACTUARY?\n\n# ACTUARIES ARE EXPERTS IN:\n\n·Evaluating the likelihood of future events—using numbers,notcrystal balls.  \n·Designing creative ways to reduce the likelihood of undesirableevents.  \n·  Decreasing the impact of undesirable events that do occur.  \n# WHAT DOACTUARIES DO?\n\n## WE MANAGE RISK\n\n●Actuaries use a combination of strong analytical skills,  \nbusiness knowledge,and understanding of human behavior tomanage today's complex risks facing our society.  \n# WHAT DOES RISKHAVE TO DO WITH IT?\n\n# THE FUTURE IS UNCERTAIN AND FULLOF RISK.\n\n## WHAT IS RISK?\n\n● Risk is the chance that an undesirable event willoccur,but risk is also opportunity.That's wherewe come in.  \n# YOUR TURN!\n\nIt's your turn to bethe actuary.Try yourhand at forecastingthe future withthese sampleproblems.  \n## AUTO PRICING 101\n\nBACKGROUND:  \n·ABC Insurance Company insures  \n1,000 eighteen year old drivers.  \n·Assume 300 of the 1,000 haveaccidents within a year.  \n·Assume the average repair costfor each accident is $500.  \nQUESTION:WHAT IS THEMINIMUM PREMIUM THATABC SHOULD CHARGE AN 18-YEAR OLD FOR A 1-YEAR CARINSURANCE POLICY?  \n## AUTO PRICING 101\n\nSULUIIUN:  \n●At a minimum,the totalpremiums collected must equalthe total cost of the accidents.  \n●Estimated cost of the accidents:300×$500=$150,000  \n●Minimum premium for eachdriver:$150,000÷1,000=$150  \nCHALLENGE:SHOULDABC CHARGE MORETHAN THIS PREMIUM?IFSO,WHY?  \n# AUTO PRICING 101\n\n## BALKGKUUND:\n\n●Assume 400 of the drivers aremales and 600 are females.  \n●Assume 200 out of 300 ofaccidents will involve males,andthe remaining 100 accidents willinvolve females.  \nQUESTION:WHATPREMIUM SHOULD BECHARGED FOR THEMALES AND THE  \nFEMALES?SHOULD IT BETHE SAME?  \n## AUTO PRICING 101\n\nSULUIIUN:  \n●Total males'premium:200 accidents×$500 peraccident =$100,000  \n●Each male’s premium:  \n$100,000÷400 males =$250  \n●Total females'premium:100 accidents×$500 peraccident =$50,000  \n●Each female's premium:$50,000÷600 females =$83.33  \nTHE MALE'S PREMIUMSHOULD BE THREE TIMESTHE FEMALE'SPREMIUMS!","cbCaigKyLaZBH9H9","https://ap.wps.com/l/cbCaigKyLaZBH9H9","pdf",681948,33,"English","# WHAT IS AN ACTUARY?\n## ACTUARIES ARE EXPERTS IN:\n## WHAT DO ACTUARIES DO?\n### WE MANAGE RISK\n# WHAT DOES RISK HAVE TO DO WITH IT?\n## WHAT IS RISK?\n# YOUR TURN!\n## AUTO PRICING 101\n### BACKGROUND AND QUESTION\n### SOLUTION AND CHALLENGE\n## AUTO PRICING 101\n### BALKGKUUND AND QUESTION\n### SOLUTION","[{\"question\":\"What is an actuary, according to the document?\",\"answer\":\"An actuary is an expert who evaluates the likelihood of future events and helps manage risk using numbers rather than “crystal balls.”\"},{\"question\":\"How do actuaries manage risk?\",\"answer\":\"Actuaries use analytical skills, business knowledge, and an understanding of human behavior to manage complex risks facing society.\"},{\"question\":\"In the Auto Pricing 101 example, what is the minimum premium for an 18-year-old driver for one year?\",\"answer\":\"The minimum premium is $150 per driver, based on estimated accident cost of 300 × $500 = $150,000, divided by 1,000 drivers.\"}]","WHAT IS AN ACTUARY? - What do actuaries do? - We manage risk - Auto pricing 101 | PDF",1790489203,83]