Actuaries

Actuaries are professionals who use math, statistics and big data to model the future in ways that help Canadian people and organizations manage risk. Actuaries who are qualified as CIA members work for some of the world’s most essential businesses, including insurance companies, pension plans, consulting firms and government agencies. 

With a unique understanding of the Canadian context and the ability to assess risk, our actuaries provide clarity and guidance to help navigate what’s ahead. Through integrity, insight and foresight, they are able to model change, empower decision-making, improve futures for people in Canada and beyond, and have a wide impact on the greater good. 

Core skills

• Math and statistical analysis: Actuaries use statistical models and techniques to analyze data to estimate future events, such as mortality rates, accident frequency and claim amounts.
• Risk management: Actuaries analyze data, trends and historical patterns to anticipate the likelihood and potential impact of future events – and develop strategies to mitigate them – related to, for example, life expectancy, property damage, natural disasters, accidents, health care costs and investment returns.
• Communication: Actuaries explain complex concepts and strategies in a way that is easy to understand for various stakeholders, such as executives, clients, regulators and the general public.
• Finance and business: Actuaries project and quantify the financial consequences of potential events, helping organizations manage their financial resources effectively and make informed decisions about pricing, investment strategies and risk management.
• Professional judgment: Actuaries analyze the future and make assumptions where concrete information may not exist, adhering to strict ethical standards and guidelines.

Protecting public interest

Behind every successful insurance claim, workers’ compensation claim and pension or benefits plan, there are actuaries who ensure that insurers, employers and governments are delivering these important financial security programs to the public. They promote transparency and fairness in pricing and market availability, ensure the long-term sustainability of these arrangements, help organizations comply with regulatory requirements and safeguard the public’s financial well-being.

Actuaries qualified as members of the CIA adhere to a strict code of professional ethics and conduct, which includes principles such as honesty, integrity and objectivity. By upholding these ethical standards, actuaries ensure that their decisions and recommendations are made in the best interest of the public.