What do you mean by actuarial science?

Actuarial science is a field of study where individuals pursuing the particular field apply statistics, computers, and mathematics, to predict future risks. Actuarial science binds the gap between science and business, as a sound understanding of science as well as a business nature is mandatory. This stands the reason why actuaries are required in insurance sectors, organizations where a calculation of risk is involved as per weighing costs and benefits. Actuarial science helps people reach the level where policy designing is done.