Actuaries are professionals who analyze financial risks using mathematics, statistics, and financial theory. They primarily work in the insurance industry, helping companies determine the likelihood of events such as accidents, illnesses, or natural disasters. By assessing these risks, actuaries help organizations set appropriate premiums and ensure they have enough funds to cover future claims. In addition to insurance, actuaries also work in pension planning, investment, and healthcare. They use their expertise to create models that predict future financial scenarios, aiding businesses and governments in making informed decisions. Their work is crucial for maintaining financial stability and managing risk effectively.