The actuarial control cycle is a specific business activity which involves the application of actuarial science

Actuarial science

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. Actuaries are professionals who are qualified in this field through education and experience...

 to real world business problems. Much like the accounting control cycle, the actuarial control cycle requires a professional within that field (i.e. an actuary

Actuary

An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms ....

) to specify a problem, develop a solution, monitor the consequences thereof, and repeat the process.