The History of Actuarial Science The history of actuarial science spans thousands of years, with roots in ancient Babylon, Greece, and Rome, where early concepts of risk sharing and insurance emerged. The development of probability theory in the 17th century, spurred by mathematicians like Blaise Pascal and Edmond Halley, laid the groundwork for modern actuarial methods. By the late 18th century, advancements in mortality tables and insurance practices formalized the profession, culminating in the coining of the title "actuary." Over time, actuaries have expanded their roles from traditional insurance to areas like artificial intelligence, climate risk, and data science. The profession's evolution underscores the importance of continuous innovation and adaptability to address emerging challenges and societal needs. You can find the full article here |
