[[Actuarial Notes Wiki|Wiki]] / ==Actuarial Methods== > **Actuarial Methods** are processes to assess and manage risk. Each method is based on underlying [[Actuarial Assumptions|assumptions]]. ## Insurance [[Insurance]] protects from financial loss resulting from uncertain events. | Method | Purpose | | --------------------------------- | -------------------------------------------------------- | | [[Insurance Product Development]] | Create insurance products. | | [[Insurance Pricing]] | Determine a fair price for an insurance policy. | | [[Insurance Reserving]] | Determine how much money to set aside for future claims. | | [[Catastrophe Modelling]] | Estimate rare and severe losses. | ## Pensions A [[Pension]] guarantees a consistent payment after retirement. | Method | Purpose | | -------------------- | ------------------------------------------------ | | [[Valuation]] | Determine the value of an asset. | | [[Investment]] | Commit resources to grow value. | ## Risk Management | Actuarial Method | Description | | ------------------- | ------------------------------------------------------------------------- | | [[Risk Management]] | Manage operational, financial, and strategic risk within an organization. | | [[Risk Assessment]] | Estimate the likelihood and impact of future events. |