An actuary expert witness and consultant has expertise in assessing the financial risks and costs based on numerous statistics. This particular skillset can be applied to any industry, as all businesses and organizations involve a certain amount of financial risk. This level of risk is calculated using a series of statistics, math, and financial theory.
Actuaries work with insurance companies to map out the details of a possible financial risk, which requires a strong background in various financial disciplines. Actuary experts have vast experience in such areas as underwriting, workers compensation, statistics, risk management, ratemaking, intellectual property, pricing, reserves, audits, SEC standards, regulatory procedures, claims, as well as several types of insurance, including property insurance, casualty insurance, reinsurance, liability insurance, and self insurance.
It is important that the actuary expert witnesses be familiar with the business and financial concerns involved with whichever industry they are working with. An actuary working with an auto insurance company, for example, should be familiar with the value of each car and the human factors of potential drivers. If an actuary is working with a real estate company, he or she should be familiar with the location, type of home, and other relevant factors.
Risk management is a very complex area for any business, one that requires the expertise of a professional actuary. ForensisGroup provides access to quality actuary experts, bringing the best possible knowledge in risk management to your particular case, Submit An Expert Request Form or call us today to find an expert.