Actuaries

Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.

AI: Fully automatable - AI systems can ingest large datasets, fit statistical and survival models, and produce robust estimates of mortality/accident/sickness/disability/retirement rates given adequate data and validation.

Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.

AI: Fully automatable - AI can construct probability tables from historical and modeled data and integrate external information to produce the technical tables used for pricing and risk assessment.

Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.

AI: Partial - AI can calculate premium rates and reserve projections given actuarial models and assumptions, but setting final rates and legal/ethical judgments require licensed actuaries and regulatory sign-off.

Design, review and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.

AI: Partial - AI can design plan options, run solvency analyses, and compute premiums to support administration, yet comprehensive plan design and regulatory compliance need expert actuarial oversight.

Determine or help determine company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.

AI: Partial - AI can draft policy recommendations and clear explanations for varied audiences, but determining company policy and making final communications decisions requires human leadership and accountability.

Provide advice to clients on a contract basis, working as a consultant.

AI: Partial - AI can generate tailored actuarial advice and analyses but cannot fully replace licensed consultant judgment, client relationship management, and regulatory/fiduciary responsibility.

Negotiate terms and conditions of reinsurance with other companies.

AI: Partial - AI can prepare analyses, proposals, and contract language for reinsurance but cannot conduct relationship-driven negotiations or assume final legal/contractual authority.

Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.

AI: Partial - AI can synthesize inputs, model scenarios, and draft recommendations for new lines or improvements, but cannot fully perform the interpersonal coordination, leadership, and final decision-making in cross-functional collaboration.

Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.

AI: Partial - AI can model financial risks, stress-test portfolios, and recommend strategies to maximize risk-adjusted returns, but institutions rely on human oversight, judgment, and regulatory compliance for final decisions.

Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.

AI: Partial - AI can compute allocation scenarios and propose equitable bases for surplus distribution using models and rules, but final determinations involve governance, regulatory judgment, and fiduciary responsibility that require humans.

Testify before public agencies on proposed legislation affecting businesses.

AI: Partial - AI can draft testimony and regulatory comments and analyze legislative impact, but cannot appear as an authorized human witness or fully manage the political and legal interactions before public agencies.

Determine policy contract provisions for each type of insurance.

AI: Partial - AI can draft and optimize policy contract provisions consistent with regulations and precedent, but final contract wording and legal responsibility require human actuaries and legal review.

Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person who is disabled or killed in an accident.

AI: Partial - AI can calculate lifetime-earnings valuations and prepare expert reports, but cannot serve as the sworn human expert in court or assume legal accountability for testimony.

Manage credit and help price corporate security offerings.

AI: Partial - AI can run credit-risk models and price securities but cannot fully substitute the human judgment, client negotiation, and regulatory oversight involved in managing credit.

Explain changes in contract provisions to customers.

AI: Partial - AI can generate clear, tailored explanations of contract changes but human oversight is often required for regulatory compliance and sensitive customer interactions.