The main responsibilities of actuaries in insurance companies are insurance product management and new insurance product development and design. The responsibilities of modern actuaries in insurance companies have included two aspects: one is the cost accounting of insurance products, which is actually the quantitative evaluation and pricing of risks; The second is the financial management of insurance companies, including investment management of company assets, sensitivity analysis and portfolio analysis of investment income, and reasonable matching of assets and liabilities (the liabilities of insurance companies are mainly reserves, which are uncertain liabilities).
Due to the continuous improvement of financial markets in economically developed countries and regions, market competition is also fierce. The pricing of insurance companies in developed countries has always been in a state of complete competition, and the profit when the actuarial total premium is paid has always been set at zero or even less than zero. Therefore, the ability of insurance companies to cope with the risk of insurance funds completely determines the competitiveness of policy prices.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.