Pooling resources for valuable actuarial calculations

It occurred to me this morning that, if it's actually valuable, generating true beliefs about the world must be someone's comparative advantage. If truth is instrumentally important, important people must be finding ways to pay to access it. I can think of several examples of this, but the one that caught my attention was actuarial science.

I know next to nothing about what actuaries actually do, but Wikipedia says:

"Actuaries mathematically evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events."

Why, that sounds right up our alley.

So what I'm wondering is: for those who can afford it, wouldn't it be worth contracting with actuaries to make important personal decisions? Not merely with regards to business, but everything else as well? My preliminary ideas include:

Lifestyle choices to reduce personal risk of death
Health and wellness decisions
Vehicle choice for economic and safety considerations
Where to send your kid to college and otherwise improve life success

Lastly, if consulting actuaries is worth doing as a wealthy individual, shouldn't it also be worth doing as a group? Couldn't we pool money to get excellent information about questions that haven't yielded answers to our research attempts?

If I am not misunderstanding the work that actuaries do, there may indeed be low-hanging fruit here.

I know next to nothing about what actuaries actually do, but Wikipedia says:

"Actuaries mathematically evaluate the likelihood of events and quantify the contingent outcomes in order to minimize losses, both emotional and financial, associated with uncertain undesirable events."

Why, that sounds right up our alley.

Lifestyle choices to reduce personal risk of death
Health and wellness decisions
Vehicle choice for economic and safety considerations
Where to send your kid to college and otherwise improve life success

If I am not misunderstanding the work that actuaries do, there may indeed be low-hanging fruit here.

This old interview with Michael Vassar seems relevant (bold in answer not in original):

What kind of jobs you did when you were younger and what is the important things you learned about it?

I worked in labs doing biochemistry, microbiology, plant genetics, and soft lithography. Also waiting tables, teaching in inner city schools in the US, Peace Corps in Kazakhstan, and actuarial work. Currently a music licensing start-up, which has been the most educational of all, but all have taught me more than I have time to share.

21

Pooling resources for valuable actuarial calculations

21

21

21

Pooling resources for valuable actuarial calculations

21

21