Word
actuarial
Phoneticsac·tu·ar·i·al
US/ˌækˌtʃuˈɛɹiəɫ/
UK/ˌæktʃuːˈeəɹɪəl/
Definition
adj. relating to the use of math and statistics to calculate the risk of future events. You usually see this word in the insurance or finance industries.
adj. relating to the mathematical and statistical methods used to calculate the risk of future events, especially in insurance and finance. Often used to describe the profession, the data, or the calculations involved.
Examples
“She is studying actuarial science to become an insurance expert.”
“The company hired an actuarial firm to analyze the long-term financial risks of the new pension plan.”
“Actuarial models must account for a wide range of variables, from demographic shifts to economic volatility, to ensure that insurance premiums remain both fair and sustainable over decades.”
Examples
simple
“She is studying actuarial science to become an insurance expert.”
contextual
“The company hired an actuarial firm to analyze the long-term financial risks of the new pension plan.”
complex
“Actuarial models must account for a wide range of variables, from demographic shifts to economic volatility, to ensure that insurance premiums remain both fair and sustainable over decades.”
Etymology
From actuary + -al.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Scan code
englishreference.com/q/actuarial