Actuarial Science Colleges and University Degree in India

Actuarial Science Colleges and University Degree in India

If you have been planning to pursue actuarial, you may be wondering about actuarial science college or universities you should get it from.  We have plenty of universities and colleges in India that offer the course. But, choosing one that offers the specialty you are interested in is vital. 

If you love mathematics and you are looking for a career that can help you put your skills in use, then consider actuarial science. The course will allow you to brainstorm to provide answers to new challenges.

Other than acquiring skills in the field, you will also acquire IT skills to help you meet the market needs.

BSc Actuarial Science

It is the most popular courses that lead to graduation. There are many colleges that

The course teaches how you can apply mathematical and statistics in performing the day to day tasks that are assigned to actuaries.  Also, the course exposes the learner to the knowledge and skills they need to tackle IAI, CAS, and IFoA examinations. 

They will also acquire the knowledge and skills required to solve problems in the insurance sector. Besides, it helps them to understand how actuaries can contribute to the insurance process.

The course will introduce the learners to IT and the computing skills you need to offer Actuarial services.

BSc Actuarial Science colleges to get the graduation Degree from

There are many colleges and universities which offer actuarial graduation degrees. The actuarial science colleges include Chandigarh University, Bishop Herber , Amity University, Uttar Pradesh and Noida just to mention but a few. 

BSc in Actuarial Science from Patkar- Varde College ( University of Mumbai)

It offers actuaries and finance degrees in Actuarial and Quantitative finance. The college prepares students to serve in financial investment and marketing and insurance using statistics. 

The course curriculum is divided into 6 semesters. It teaches you subjects like Calculus, Probability and Statistics, Finance, Life Insurance – Principles, Products and Practices, Algebra, Actuarial Modelling, Non Life Insurance- Principles, Products and Practices, Business Economics, Financial Engineering, Predictive Analysis, Machine Learning, Pricing and reserving for Life and Non Life products, IT Skills such as Excel, Python, R.

The benefit of B.Sc. (Actuarial Science and Quantitative Finance) from Patkar- Varde College is that this is the only program in India to get the accreditation from the Institute and Faculty of Actuaries, UK (IFoA) for exemptions of up to 6 professional Actuarial papers. Please see the link here to IFoA, UK web page mentioning a list of university programs exempted.

Amity university

Amity university is affiliated to WASC, NAAC, NATA, and UGC.  It is an internationally acknowledged institution that offers an actuarial science degree in India.  It teaches core principle courses with a focus on Mathematical Functions, Actuarial Modeling, Statistics, Economics, and Reinsurance. Besides, it offers courses like effective communication skills and behavioral science.

Students who choose to pursue IT at the college are taught Access, VBA, Excel, and other industry-related courses. What’s more is that such students have the opportunity to study foreign languages such as French, Spanish, and German.  Also the students are required to complete compulsory project work. 

Bishop Herber College

The actuarial science college offers insurance and actuarial . The subjects covered include integral calculus, differentiation, mathematics, economics, accounting, and operational research. Others are Actuarial modeling, Algebra, and operational research. The college’s IT department offers lessons in statistical software and excel.

Other institutions that offer actuarial science are Chandigarh University, BabuBanarsi Das University as well as Lucknow.

Criteria for Graduating In Actuarial Science

Different colleges have different terms which you should clear to get a BSc degree. The common one is that you must have finished a 10+2 level of education and must have passed with a minimum of 60 percent. You should have also scored 70 percent in mathematics.

 Is going for BSc Actuarial worth?

Actuaries have made a drift from their traditional Insurance specific work in the decade. While, a major component of core Insurance pricing and reserving work still remains under an Actuary’s area of specialization.

In case you are not sure which graduation degree to persue while studying Actuarial Science from an institute like IAI, IFoA or CAS, understand the graduation degree in Actuarial science importance here.

In many countries, the future for actuaries means employment in the finance ministry of the governments to assist them in Budget analysis, Demand forecasting, and revenue projections. You can read more about the career prospects of an actuary here.

An actuarial science degree requires a lot of commitment to studies.  You can graduate with Actuarial in statistics, economics or mathematics. Also, it will keep you updated with insurance knowledge and avail plenty of job opportunity to the graduates.