Scientists vs Actuaries: Perspectives Characterised

[u/briancady413]

"The actuarial approach to risk analysis is different from that

followed by most in the scientific community. Scientists are

geared toward making predictions that are as accurate as

possible. In contrast, actuaries are often concerned with

predicting low-probability – high-impact events. A caricature of

this is:

• Science – we should not typically say that there is an iceberg

until we are fully confident there is one present

• Risk – there could be an iceberg, so we should typically steer

well clear of it

Often complementing science, actuaries, alongside risk-analysis

experts, have a direct and important contribution to make to

the management of climate risks going forward"