Analysis on Application of Financial Actuarial Science in Risk Control Strategies

Abstract

During the rapid economic expansion of China, all industries, notably those associated with financial and insurance, are making profits from this rare opportunity. However, the competition is fierce. Therefore improving risk control capabilities and limiting the probability of risks in the business process could be a practical approach to enhance the market share, which is critical to the survival and development of financial enterprises. The ability to evaluate and hedge risks using knowledge from the actuarial sector is a key tool for risk prevention, thus, the operation of financial organizations dramatically benefits from having actuarial abilities. Based on this, this paper investigates the current challenges of actuarial calculations and proposes actuarial risk control strategies, hoping to assist financial insurance enterprises in effectively controlling financial risks and providing references for relevant staff of financial work.