An ACTUARY is a professional who specializes in the measurement and management of risk and uncertainty. They use mathematics, statistics, and financial theory to analyze the potential risks of certain events, and then help businesses and individuals develop strategies to minimize or manage those risks. Actuaries are often employed by insurance companies, where they use their expertise to calculate premiums and determine the amount of money that should be set aside to pay for future claims. Insurance statisticians are similar to actuaries, but they focus more on the analysis of data related to insurance policies and claims. They use statistical methods to identify trends and patterns in the data, which can be used to inform decisions about pricing, underwriting, and other aspects of the insurance business.