actuarial
UK: ˌæktʃuˈeəriəl | US: ˌæktʃuˈeriəl
adj. relating to the work of an actuary, especially in calculating risks and premiums for insurance.
adj. involving statistical or mathematical methods to assess financial risks.
The word "actuarial" derives from "actuary," which originally referred to a clerk or accountant (from Latin actuarius, meaning "keeper of accounts"). Over time, the term specialized to describe professionals who calculate insurance risks and probabilities. The suffix "-al" transforms the noun into an adjective, indicating relevance to the actuary's work. The evolution reflects the growing precision of financial risk assessment in modern industries.
Actuarial science is essential for designing insurance policies.
She pursued an actuarial career to specialize in risk modeling.
The report included detailed actuarial tables for life expectancy.
Actuarial estimates help companies prepare for future liabilities.
His actuarial expertise improved the pension fund's stability.