## Actuarial Science: Crop Insurance

The agricultural sector is the most significant and broadest economic sector in India contributing a major part in the GDP, and hence been called “The backbone of the Indian Economy”. Approximately, 61.5% of the rural population relies

## Actuarial Techniques in General Insurance

The general insurance industry offers an array of products such as motor, travel, home, marine, commercial and many more insurances. When we buy an insurance product, we pay a certain sum of money to the insurer, called the premium, in

## Random Variable and Distribution: The Concept

A random variable is a variable whose value is unknown and uses probabilities to decide its value. For example, if we roll a fair die, we know that each of the values 1, 2, 3, 4, 5 or 6 occurs with a probability of 1/6. Each of the values

## Actuarial Science: Loan Schedule

In return of the loan, we pay some amount of extra money to the lender. When you take a loan from a bank or from anyone, then you pay some percentage of the loan, as interest, for a specified period, annually, monthly, quarterly,

## Should I Pursue an Actuarial Science Degree or Statistics Degree?

If you have recently completed your high school and pursuing Actuarial Science, then you can easily relate to the above question. The key skills required by both the courses are: Strong foundation in MathematicsLogical thinking and the

## Theory of Estimation Or What is Estimation

One of the major applications of statistics is to estimate the unknown population parameter. For example what is Estimation, a poll may seek to estimate the portion of adult residents of a city who are unemployed. The process of providing

## Is Actuarial Science Right Profession For Me?

Everybody has the above question in mind, in one or the other way, after knowing about Actuarial Science. But, you will truly never know if Actuarial Science is really your thing until you try it. Despite saying this, let’s consider some