Actuarial science uses math and statistics concepts to provi

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Reference no: EM13803706

Actuarial Science uses math and statistics concepts to provide information that drives life insurance and medical insurance policy and procedures. In health insurance, actuarial science focuses on an analysis of rates of a number of different areas. Professionals in this area also use something called "catastrophic modeling" that uses a computer model to estimate the level of damage and exposure that an insurance company might have in the event of a catastrophic event, such as a hurricane. Do you think that this type of modeling could have anticipated the impact of storms like Katrina and Sandy? How about the over 100 inches of snow that Boston had this winter and the damage from a storm like that?

Reference no: EM13803706

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