The insurance business has many applications of statistical methods -- particularly in the areas of pricing and risk analysis. When an insurance policy is sold, the cost of providing insurance cannot be known with certainty. Therefore, the pricing of insurance relies heavily on estimates of expected cost. In this presentation, we will discuss the importance of refining these estimates and quantifying the uncertainty of these estimates. We will also discuss some of the modeling approaches that are used in actuarial practice -- including predictive modeling, generalized linear models, and stochastic modeling.