[[Actuarial Notes Wiki|Wiki]] / ==Actuarial Techniques== > **Actuarial Techniques** are practical ==methods used to assess and manage risk.== Each technique is based on [[Actuarial Assumptions|assumptions]]. | Purpose | Description | | --------------------------------- | --------------------------------------------------------------------------------- | | [[Insurance Pricing]] | Determine a fair price for an insurance policy. | | [[Insurance Reserving]] | Determine the amount of money to set aside for future claims. | | [[Insurance Product Development]] | Design insurance products. | | [[Valuation]] | Determine the value of an asset, like a pension plan or book of contracts. | | [[Investment]] | Buy and sell assets to grow capital. | | [[Risk Management]] | Manage operational, financial, and strategic risk within an organization. | | [[Risk Assessment]] | Estimate the likelihood and impact of future events. | | [[Catastrophe Modelling]] | Estimate losses caused by a catastrophic event such as a hurricane or earthquake. |