MSc Statistics (Actuarial)

Master of Science in Statistics (Actuarial)

MSc Statistics (Actuarial) or Master of Science in Statistics (Actuarial) is a Post-Graduate Actuarial Science course. Actuarial science is the study of risk in the insurance and finance industries using mathematical and statistical tools. Probability and economics are also included. Using proper Stochastic Models, simulation, and high-speed computer tools, it is now feasible to generate numerous tables and calculate the premiums of various forms of insurance contracts, even when the risk variables are unpredictable.

The Master of Science in Statistics (Actuarial) program covers the fundamentals of statistics, mathematics, and insurance, as well as how to develop analytical abilities for a career in the financial industry. The Statistics (Actuarial) course discusses basic forms of life insurance contracts as well as the discounted cash flow approach for reserving and pricing basic life insurance contracts such as whole life, term life, endowment insurance, and unit-linked contracts.

MSc Statistics (Actuarial) Eligibility

• They should have passed their Bachelor of Science in Statistics / Mathematics statistics by any recognized university and will be eligible to take admission.
• The candidates should have secured a minimum of 55% aggregate marks or equivalent in their Bachelor's.

MSc Statistics (Actuarial) Syllabus

Syllabus of Statistics (Actuarial) as prescribed by various Universities and Colleges.

MSc Statistics (Actuarial) Colleges

• Savitribai Phule Pune University, Pune
• Central University of Rajasthan, Ajmer

MSc Statistics (Actuarial) Course Suitability

• They should have a strong aptitude for mathematics and statistics before becoming an actuary.
• They should also have solid communication skills, computer abilities, business acumen, a practical approach, and the capacity to operate independently.
• To effectively finish the different phases of the course, aspirants must also have single-minded devotion, undivided attention, and a systematic approach to challenges.
• Candidates who aspire to become lecturers and are interested in furthering their research studies should apply.

How is the MSc Statistics (Actuarial) Course Beneficial?

• The Master of Science in Statistics (Actuarial) program prepares students for actuarial employment by emphasizing risk process theory and its application to real challenges of insurance pricing and management.
• The Statistics (Actuarial) course serves to provide the necessary information and prepare students to operate in various insurance businesses and financial industries.
• The Master of Science in Statistics (Actuarial) study also prepares students to take several tests administered by actuarial organizations in India and overseas, allowing them to seek a career as an actuary.
• After completing the Statistics (Actuarial) course, students will be able to seek private and regular teaching positions in schools, colleges, and universities.

MSc Statistics (Actuarial) Employment Areas

• Banking Sector
• Colleges & Universities
• Financial Department (Industry)
• Insurance Companies
• Stock Markets

MSc Statistics (Actuarial) Job Types

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