Actuarial science is not popular like other courses in india Though is not well known by many people but it contribute in nations development.it forecast future risk by using probability analysis and statistics in simple words doing calculations of what happens in past using statistics they provide report of future investment risk that are uncertain.if you can play with numbers then this course is for you.it involves mathematics and statistics to deal with the risk involve in future.

There are various oppurtunities outside india for actuarial science but in india many people not aware about actuarial science so there is more job and less competition.job offers by companies, banking, financial consulting firms, Actuarial consulting firms, the government sector, pension funds, investment advisories by top companies PwC Actuarial Services India, Max Bupa Insurance, Milliman, IDBI etc.any person can earn between 4 lakh to 20 lakh according to their experience.post secondary teachers earn highest in this field with average salary of 15 lakh and the lowest earner in this field is auditor and accountants who earn average 5 lakh yearly.

A candidate must pass graduation with 50% marks and have mathematics and statistics  compulsory as subjects to be eligible for course.IAI is the only institute which offered actuarial course.

Candidate enroll themselves in IAI which is the apex body of actuarial science and qualifying the Actuarial Common Entrance Test (ACET) is mandatory.this exam is held thrice in a year and you must pass in all 15 subjects to be recognised by IAI and you can become associate if you pass only 10 subjects there is also job offers for those who qualify only three subjects.

All the best!!!

Hello mam,

Actuarial Science, is all about finance field. After completion of the course, you will be able to assess financial risks associated with the insurances and related finance related fields. If you choose to work in USA, there is really a wider scope in the jobs. And choosing the course, will be a really wise thought. There is a real growth of 28% every year, in this sector.

The Christ University, Chandigarh University, Sathyabhama University, Amity University and Madras University, are the top colleges in India offering this course. https://www.careers360.com/courses/actuarial-science-course . For more details, you can check the above link.

Hope this helps you,

Good Luck, Thank you :)

Actuarial Science as a field is all about data, numbers and statistics. Thus, it is very important to have a strong hold on Mathematics and Statistics.

10+2 or Equivalent is required for B.Com (Actuarial Science). Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.

Thank You.

Hi,

I hope you are doing well.

Here are some of the top colleges for actuarial science:

Christ University

UNOM - University of Madras

Chandigarh University (CU)

Amity University, Noida

Kerala University

Patna University

Mar Athanasius College

Hello Anjali,

Actuarial science is a multidisciplinary subject of financial risks in the insurance and financial field with mathematics and statistics.

Mostly insurance plans and pension plans are two main focus of the actuarial science.

It basically helps in building mathematical models which help in reducing the risk and uncertainty in the sector of finance and insurance,

In india, if you want to pursue this you can apply in institute of actuarial science of India.

You need to have a good grip in mathematics to pursue this programme.

I hope it helps,

Best of luck

For CA the average salary may vary from 6LPA to 25 LPA. For Actuarial Science the average salary may vary from 8 LPA to 40 LPA. The lower & Upper limits depends on the organization & the experience of the employee.

So if you can acquire both the degree and have proper knowledge then you can have a possibility of getting salary in a range 7LPA to 45LPA.

I hope my answer helps you. Have a great day!

Hello! Actuarial Science essentially deals with the education of insurance risks and Financial Management of Insurance Companies. It involves the application of Mathematics, Statistics and Economics in the decision making process to a wide range of industries. The most prominent of these industries include insurance, investment and financial planning & management companies. Actuaries are professionals who are qualified in this field through education and experience

Eligibility:

In India, a fellow member of the Institute of Actuaries is known as an Actuary. To become a fellow, one has to first become a student member of the Institute and then clear all the papers of the Institute and fulfill other criteria from time to time. The eligibility criteria to appear for Actuarial papers are subjective. 10+2 passed students who have attained 85% marks in Mathematics / Statistics or graduate, or postgraduate students with 55% aggregate or more on Mathematics, Statistics are eligible to apply. There are a total of 15 papers and there is no fixed duration of the course. If pursued with complete dedication, the course could be completed in 3-4 years. The exams are conducted twice in a year in May/June and Oct/Nov. Thankfully there are no restrictions on the number of attempts per paper.

Training Areas

An Actuary looks into the future financial prospects of an insurance company. Actuaries use skills in mathematics, economics, computer science, finance, probability and statistics, and business to help businesses assess the risk of certain events occurring and to formulate policies that minimize the cost of that risk. For this reason, Actuaries are essential to the insurance and reinsurance industry, as staff employees or as consultants as well as to other businesses, including sponsors of pension plans and to the government. The Actuary’s certificate indicates a company’s ability to meet varying payments due at any time in future. He uses his professional skills to walk into the future and see how much income comes to the fund and how much expenses and benefit payments will go out of the fund of a company every year in future.

Following are some of the other areas that Actuaries are trained on( which is what I assume you have asked!):

1. Designing an insurance product and setting its price

2. Selecting the right people for insurance products.

3. Minimizing the amount of losses for the company by reinsuring the company’s insurance policies with another insurer (called reinsurers)

4. Maximizing the profits for the company and thus protecting the customers’ amounts kept with the insurance company for a number of years etc.

5. Preparing on a given date a summary of the company’s liabilities (commitments)

6. Determining the adequacy of the reserves.

7. Certifying the solvency of the Insurance Company

Career Opportunities:

Actuaries can play the following roles:

•  Risk analysts

•  Administrating officer

•  BPO administrator

•  Actuary Director

•  Finance consultants in various Insurance sectors

•  General Officer

•  Financial Service Executive

•  Appointed Actuary

•  Actuarial Analyst

•  Health care directors/managers/analysts

•  Accounts manager

•  Pension providing administrator other than in Insurance companies

•  Senior Actuarial Analyst

•  Asset Liability manager

•  Financial/Insurance Consultants in IT sector

•  Insurance risk managers

•  Assistant Administrative Officer