The Data Deluge – Why Actuaries Are Needed Beyond the Insurance Sector

Technology is at the heart of this change. As outlined in a recent report by Ogden Scott, the rise of automation, predictive analytics, and AI has dramatically redefined the actuarial skillset. Actuaries are now expected to work fluently with programming languages like Python and R, engage with machine learning models, and manage real-time data environments. These aren’t niche abilities – they are becoming standard in actuarial job profiles.

Smith Hanley’s 2025 industry trends analysis supports this view, noting that actuaries with a strong data science foundation are commanding greater influence across functions like product development, risk strategy, and financial forecasting. The boundaries between actuarial work and advanced analytics are increasingly blurred. Employers are looking for professionals who can code, interpret complex datasets, and tell the story behind the numbers.

Nowhere is this evolution more visible than in healthcare. The American Academy of Actuaries 2025 report on long-term care shows how predictive analytics is transforming everything from underwriting to policy design. Actuaries are helping organizations use data not only to price products more accurately, but also to forecast care needs, assess risk pooling strategies, and improve patient outcomes. This blend of technical and domain expertise is making actuaries indispensable in the health sector’s shift toward value-based care.

Crucially, today’s actuaries are not just analysts – they are communicators and collaborators. As roles become more cross-functional, actuaries must bridge the gap between technical detail and strategic decision-making. They advise leadership teams, contribute to regulatory discussions, and help shape ethical data practices. This ability to communicate complex models with clarity and relevance is a defining skill in 2025.

The trend is clear: data fluency, technological adaptability, and interdisciplinary collaboration are no longer optional. Actuaries who embrace these competencies are moving into leadership roles, not only within insurance but in sectors like insurtech, fintech, and health innovation. As data continues to flood every aspect of the economy, the actuarial profession is not being replaced by automation – it is being empowered by it.

Sources

1. Ogden Scott: The Future of Actuarial Work: How Technology is Shaping the Role of Actuaries in 2025 and Beyond

2. Smith Hanley: 2024 Actuarial Industry Trends and Outlook for 2025

3. American Academy of Actuaries: 2025 State of Long-Term Care Insurance: Health Practice Council Issue Brief