Actuarial consulting involves the application of mathematical and statistical methods to assess risk in various industries, primarily in insurance and finance. Actuaries analyze data to help organizations make informed decisions about pricing, reserves, and financial strategies. They use their expertise to evaluate potential future events and their financial implications. Consultants in this field often work with businesses to develop models that predict outcomes, ensuring that companies can manage their risks effectively. They may also assist in regulatory compliance and provide insights on pension plans, health care costs, and investment strategies, helping clients navigate complex financial landscapes.