Actuaries who are executives help decide company policy. Occasionally, they explain complex technical information to other executives. They sometimes testify before public agencies. Actuaries explain how new laws might affect their businesses. In addition, actuaries may need to explain changes in contracts to customers.
Actuaries also help companies plan new financial or insurance products.
Consulting actuaries provide advice to clients. Clients include insurance companies, businesses, health care providers, labor unions, government agencies, and lawyers. Some consulting actuaries set up pension and welfare plans. They calculate future benefits and set the amount that the employer will contribute. Others provide advice to health care and financial services firms.