Insurance Glossary

Actuary

Last reviewed 25 July 2026 · by the Savvy Insurance editorial team

What is actuary?

An actuary is a qualified professional who applies mathematics and statistics to assess risk and help insurers set fair, sustainable premiums. Their models weigh factors like claims history, age and location to work out how likely and how costly claims are.

Example

Actuaries analysing claims data may find that a certain car model is stolen more often, which feeds into a higher premium for that model.

Related insurance terms

← Back to the glossary

Ready to compare cover?

Now that you know the lingo, get a free quote and see how much you could save.

Get a Quote Now
Get a Quote →