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The book explains how actuarial science applies mathematical and statistical methods to assess risk in the insurance. Actuaries are created out of education but nurtured by practice and experience. The profession of actuary is a combination of a number of interrelating subjects such as probability, statistics, finance, economics, and now business strategy and information technology needed for model building. Actuaries deal with risk, return, inflation, and the relationships. More importantly, they highlight the concept of �Modern Portfolio Theory� and the role of �Efficient Frontiers� in portfolio selection. The actuarial professionals are empowered for making value judgments based on probabilistic input and output relations.
ISBN-9788131507537
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Pages : 218
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