Why study Actuarial Mathematics Actuaries use their mathematical and statistical wizardry to solve problems involving risk and uncertainty. This degree prepares you for actuarial work in insurance, with pension consulting firms, investment banks and in other areas of the financial sector. Actuarial science, math, statistics, economics, business and finance degrees are all good training for an actuarial career. However, actuaries come from a variety of educational backgrounds. Actuaries may have majors in areas such as operations research, physics, engineering, and even fine arts.