The underlying cornerstone of the Actuarial Science and Risk Management degree is the application of financial and statistical theories to help solve real business problems. The degree combines modules in actuarial modelling, financial reporting, insurance, pensions, economics, finance, mathematics and statistics to develop techniques and skills to assess, evaluate and manage future financial risk and thereby address a wide range of practical problems in long-term financial planning and management. A lot of actuaries' work might be thought of as risk management, which assesses how likely an event may be and the costs associated with that event. This might include investigating how life insurance reserves and future premiums might balance future claims, analysing investment risks, or projecting the financial costs of an epidemic.