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Catrin Townsend

A Risky Business: An Actuary's Guide to Quantifying and Managing Risk in Society

A Risky Business: An Actuary's Guide to Quantifying and Managing Risk in Society

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  • More about A Risky Business: An Actuary's Guide to Quantifying and Managing Risk in Society


Risk is an intangible, invisible, and worth trillions element that is essential to the success and failure of individuals, businesses, and governments. This book delves into the complex and multi-faceted work of actuaries to quantify, manage, and commodify risk, supporting society and servicing multi-billion-dollar industries. It introduces key concepts in actuarial science, insurance, and pensions, fostering an understanding of current industry practice through case studies, explanations, and mathematical examples. It also celebrates the long history of actuarial science and poses the problems facing actuaries in the future, exploring complex global risks from an actuarial perspective. It provides practical advice for new and potential actuaries on how to identify an area of work, navigate actuarial exams, and develop skills post-qualification.

Format: Hardback
Length: 409 pages
Publication date: 25 September 2022
Publisher: Springer International Publishing AG


Risk, an intangible and invisible force, holds immense value, permeating every aspect of our lives. Its quantification and management are critical to the success and failure of individuals, businesses, and governments alike. Whether you are an interested observer or embarking on a career in risk, this book delves into the intricate and multifaceted work undertaken by actuaries to quantify, manage, and commodify risk. Supporting our society and servicing a range of multi-billion-dollar industries, actuaries play a vital role in shaping our world.

Beginning at a fundamental level, this book introduces key concepts in actuarial science, insurance, and pensions. Through case studies, explanations, and mathematical examples, it fosters an understanding of current industry practice. This book celebrates the long history of actuarial science and addresses the challenges facing actuaries in the future. Exploring complex global risks such as climate change, aging populations, healthcare models, and pandemic epidemiology from an actuarial perspective, it offers practical advice for new and potential actuaries on how to identify a field of work, navigate actuarial exams, and develop their skills post-qualification.

A Risky Business sheds light on the critical role of actuaries in our society, revealing their work and methodologies. It serves as an essential primer on actuarial science, providing a comprehensive guide for those seeking to understand the field and its impact on our world.

Weight: 811g
Dimension: 235 x 155 (mm)
ISBN-13: 9783031116728
Edition number: 1st ed. 2022

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