An actuary working for an insurance company might calculate how much a company would charge for a new type of car, homeowners, or health insurance.An actuary might calculate how much money needs to be invested in a pension fund today so that years from now, when the employees retire, there will be funds to pay them benefits.

Besides insurance, actuaries work in many other fields, likes investment and Financial Services, marketing, manufacturing, or in the development of new products. Because their skills are readily transferable to any business that deals with risk.