INTRODUCTION
The discipline of Actuarial science applies
mathematical and statistical methods to weigh
risk in insurance, finance and other industries and
occupations. Actuarial science comprises
interrelated subjects, including mathematics,
statistics, finance, economics and computer
science.
COURSES
PG Diploma in Actuarial sciences (PGDAS) International Post Graduate Diploma in Life Insurance (IPGDLI)
International Post Graduate Diploma in General Insurance (IPGDGI
International Post Graduate Diploma in Risk Management (IPGDRM)
Actuarial exams by IAI
Stage 1: Core Technical (CT)
Stage 2: Core Application (CA)
Stage 3: Specialist Technical (ST)
Stage 4: Specialist Application (SA)
ELIGIBILITY
Actuarial Common Entrance Test (ACET exam) - 10+2 or equivalent exam with English.
After ACET, apply at www.actuariesindia.org to become a student member of IAI. IPGDLI, IPGDGI, IPGDRM- Graduate Degree in any discipline (including Engg and Management)
from a recognised university / Institute candidates with professional qualifications like
CA, ICWAI, CS are also eligible. PGDAS- B.Com. (With Statistics) or B.Sc.(With
Maths/Statistics) or B.Com. /B.Sc. in Actuarial Science or BCA or B.Sc. (Computer Science)
INSTITUTES/UNIVERSITIES
VNS Gujrat University, Surat
IIRM Hyderabad
Institute of Actuaries of India, Mumbai
SKILLS REQUIRED FOR ACTURIAL SCIENCES
Actuaries should also possess the following specific qualities:
Analytical skills. Actuaries use analytical skills to identify patterns and trends in complex sets of data to determine the factors that have an effect on certain types of events.
Communication skills. Actuaries must be able to explain complex technical matters to those without an actuarial background. They must also communicate clearly through the reports and memos that describe their work and recommendations.
Computer skills. Actuaries must know programming languages and be able to use and develop spreadsheets, databases, and statistical analysis tools.
Interpersonal skills. Actuaries serve as leaders and members of teams, so they must be able to listen to other people’s opinions and suggestions before reaching a conclusion.
Math skills. Actuaries quantify risk by using the principles of calculus, statistics, and probability.
Problem-solving skills. Actuaries identify risks and develop ways for businesses to manage those risks.
DUTIES AND RESPONSIBILITIES FOR ACTURIAL SCIENCES
Actuaries typically do the following:
Compile statistical data and other information for further analysis
Estimate the probability and likely economic cost of an event such as death, sickness, an accident, or a natural disaster
Design, test, and administer insurance policies, investments, pension plans, and other business strategies to minimize risk and maximize profitability
Produce charts, tables, and reports that explain calculations and proposals
Explain their findings and proposals to company executives, government officials, shareholders, and clients