MSc Actuarial Science

Master of Science in Actuarial Science

MSc (Actuarial Science) or Master of Science in Actuarial Science is a postgraduate Actuarial Science course. The roots of Actuarial Science may be found in Mathematics, Statistics, Economics, and Finance. It has applications in the fields of life insurance, general insurance, health insurance, reinsurance, and retirement benefit valuation, to name a few. Gratuity, pension, asset value, securities and derivatives pricing, risk valuation, risk management, and so on.

An actuary is a financial problem solver who possesses a distinct set of mathematical, analytical, and business talents. Actuaries use mathematical and statistical abilities to study previous occurrences, estimate current dangers and forecast the future. The Actuarial Science program lasts two years and is broken down into four semesters. The Master of Science program in Actuarial Science is crucial since it offers up several job opportunities for those who complete it.

MSc (Actuarial Science) Eligibility

• Candidates must have passed their Graduation degrees in Mathematical Sciences / Computer Sciences / Engineering / Physics / Commerce or equivalent qualification from a recognized University.
• The candidates should have secured a minimum of 55% aggregate marks or equivalent in their Bachelor's.
• Graduate student member of the Institute of Actuaries of India.
• Some reputed colleges and institutes conduct an entrance examination for admission.

MSc (Actuarial Science) Syllabus

Syllabus of Actuarial Science course as prescribed by various Universities and Colleges.

MSc (Actuarial Science) Colleges

• Amity University, Noida
• Yashwantrao Chavan Maharashtra Open University, Nasik
• IGNOU - Indira Gandhi National Open University, Delhi
• B.S. Abdur Rahman University, Chennai

MSc (Actuarial Science) Course Suitability

• Candidates that remain engaged and have solid skills in finance, investing, risk management, insurance, and pensions, as well as being industrious, are the best fit.
• To successfully finish the different levels of the course and be enrolled as a fellow, candidates must have single-minded devotion, entire attention, and a systematic approach to challenges.
• To become an actuary, one must have a strong aptitude for mathematics and statistics.
• Other necessary talents include solid communication skills, the ability to utilize computers and associated technologies, business sense, a practical viewpoint, an inquisitive mind, the capacity to work alone and as part of a team as the circumstance requires, and the ability to be self-motivated.

How is the MSc (Actuarial Science) Course Beneficial?

• Actuaries who collaborate with the government/government agencies are in charge of developing social security and Medicare programs.
• The degree program provides a solid foundation for additional research toward a Ph.D. degree.
• In administrative jobs, degree holders must explain technical issues to executives, government authorities, shareholders, and policyholders.
• This is an excellent topic for any commerce student since their talents are used to risk management in the banking and financial sectors.

MSc (Actuarial Science) Employment Areas

• Insurance Companies
• Banking Sector
• Government / Private Sectors

MSc (Actuarial Science) Job Types

• Assistant Manager
• Business Analyst
• Benefits Assistant
• Contracts Co-coordinator
• Data Analyst
• Economic Analyst
• Insurance Agent / Information Analyst / Investment Analyst
• Mortgage Advisor
• New Business Administrator
• Pricing Analyst
• Pensions Analyst / Pensions Assistant
• Resourcing Administrator
• Surveyor