Will AI replace Actuaries?

AI can do 99% of the work Actuaries do at least twice as fast. People already use it for 1 of their 15 tasks, while 12 more are ready but barely used so far. 2 still need a person.

AI is already doing this1 · 9% of time

People already use AI for these tasks in real work, based on Anthropic's analysis of how Claude is used.

  • Provide advice to clients on a contract basis, working as a consultant.Mostly assisted9% of time

AI could do this next12 · 90% of time

AI can speed these up by at least half, but real use has not caught up yet. These are next in line.

  • Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.21% of time
  • Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.18% of time
  • Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.15% of time
  • Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.13% of time
  • Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.10% of time
  • Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.5% of time
  • Determine policy contract provisions for each type of insurance.2% of time
  • Provide expertise to help financial institutions manage risks and maximize returns associated with investment products or credit offerings.2% of time
  • Determine equitable basis for distributing surplus earnings under participating insurance and annuity contracts in mutual companies.1% of time
  • Explain changes in contract provisions to customers.1% of time
  • Negotiate terms and conditions of reinsurance with other companies.1% of time
  • Manage credit and help price corporate security offerings.under 1% of time

Still needs a person2 · 1% of time

No real AI use, no proven AI speedup and no robot that can do it yet. This is the part of the job to build on.

  • Testify before public agencies on proposed legislation affecting businesses.1% of time
  • Testify in court as expert witness or to provide legal evidence on matters such as the value of potential lifetime earnings of a person disabled or killed in an accident.under 1% of time

Your week is not the average

Describe what you actually do and get a personal report: your own tasks, what AI can already do, what stays yours and a 90 day plan.

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What this means

AI can already do almost all of this work at least twice as fast. Real use is still behind at 6 out of 100, so the change here is only getting started. Expect the role to shift toward deciding what to do, checking AI's work and owning the result.

What to do next

  • Do the 1 task AI is already handling with AI yourself. Your peers already are, and it is quickly becoming the baseline.
  • Get ahead on the 12 tasks AI could do next. These move as tools improve, so learning them early pays off.
  • Build on the 2 tasks that stay human. This is where your judgment, skill and relationships matter most.
Statisticians99%Bioinformatics Technicians99%Mathematicians100%Operations Research Analysts98%Data Scientists95%Business Intelligence Analysts95%

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