BSc in Actuarial Science
DYPU has an educational approach that seeks to create a learning experience that will prepare students for the realities of the modern world.
About the
Program
A Bachelor of Science (B.Sc.) in Actuarial Science is an undergraduate program designed for students interested in pursuing a career as an actuary or in fields that require strong Mathematical, Statistical & Financial expertise. Actuaries use mathematics, statistics & financial theory to assess risks & Solve Problems in industries like insurance, pensions, investment & healthcare.
The course curriculum typically covers subjects including Core Subjects, Applied Skills, Professional Exam Preparation which has huge career prospectus such as Insurance & Reinsurance, Pension & Retirement Planning, & portfolio management, Healthcare & public policy and also roles which includes Actuarial analyst, Risk manager, Data Scientist/ Data Consultant.
This program is highly valued for its blend of academic rigor and real world application, making it an excellent choice for those with a passion for mathematics and risk analysis.
Program Objectives
• Develop Strong Analytical & Mathematical Foundations
• Understanding of financial & Economic Principles
• Professional Exam Preparation
• Cultivate Problem-Solving Skills
• Hands-on Application Of Actuarial Tools
• Ethics and Professionalism
• Promote Critical Thinking and Research
• Global Prespective and Industry Readiness
• Interdisciplinary Knowledge Integration
• Enhance Communication and Teamwork Skills
It Helps students to get trained effectively, communicate technical findings to non- technical stakeholders and work collaboratively in professional settings, by achieving thses objectives, graduates of the program are prepared to excel in professional actuarial roles, contribute to organizational risk management, and pursue further education or certifications in actuarial science and related fields.
Program Structure
| First Year ( Foundation Knowledge) | |
| Semester 1 | Semester 2 |
| 1.Introduction To Actuarial Science
· Overview of the Actuarial profession, History & Scope. · Basics of Risk and Insurance. |
1.Probability and Statistics II
· Joint distributions, sampling, hypothesis testing and estimation |
| 2.Calculus and Linear Algebra
· Functions,Dericatives,Integration,Matrics and their applications. |
2. Financial Mathematics I
· Time value of money annuities, loan schedules, and bond valuations |
| 3.Probability and Statistics I
· Beptsasic probability concepts,random variables and probability distributions. |
3.Macroeconomics
· National income, Inflamation, monetary policies, and economic growth. |
| 4. Microeconomics
· Consumer behavior, production theory and market structures.
|
4.Introduction to Programming (Python)
· Basics of coding, algorithms,and data manipulation |
| Second Year (Core Actuarial Concepts) | |
| Semester 3 | Semester 4 |
| 1.Actural Models I
· Modeling techniques, risk assessment, and loss distributions |
1. Actuarial Models II
• Advanced actuarial models, markov chains and stochastics modelling. |
| 2.Financial Mathematics II
· Advanced topics in intrest rates , investment valuation, and derivatives. |
2.Life Contingencies II
· Multiple- life Models, annuities and pension calculations |
| 3. Life Contingencies I
· Basics of life insurance, survival models, and actuarial present value |
3. Econometrics
· Regression analysis, time series, and forecasting |
| 4.Risk Theory and Insurance Principles
· Understanding risk pooling, reinsurance and pricing principles |
4. Financial Reporting and Analysis
· Understanding Financial statements and their interpretation. |
| Third Year (Advanced Actuarial) | |
| Semester 5 | Semester 6 |
| 1.Survival Models
· Kalpana-Meier estimator, hazard rates,and survival analysis techniques.
|
1.Risk Managemant and solvency
· Regulatory framework, colvency models and enterprise risk management |
| 2. Investment and Asset Management
· Portfolio theory, asset pricing models,and fund management. |
2. Pension and Retirement Benefits
· Pension funding methods, benefits valuation, and legal frameworks. |
| 3. Health and General Insurance
· Health Policilaims management and underwriting |
3. Actuarial Modeling Techniques
· Advanced techniques for insurance and fnancial products. |
| 4. Project Work I Data- Driven Actuarial Analysis
· Group or Individual projects onactuarial data analysis. |
4. Specialization and Industry Readiness
· Dedicated to advanced topics, research, and real world applications. |
| Fourth Year ( Specialization and Industry Readiness ) | |
| Semester 7 | Semester 8 |
| 1.Advanced Topics in Actuarial Science.
· Emerging risks, Climate risk modeling, and new insurance products. |
1.Capstone Project: Comprehensive Actuarial Problem- Solving
· Independence research or Practical project |
| 2.Advanced Portfolio Management
· Strategies for managing large investment portfolios |
2.Actuarial Case Studies and Industry Practises
· Analysis of real- world sctuarial cases and solutions. |
| 3.Artificial Intelligence in Actuarial Science
· AI application in risk assessment and decision- making. |
3.Leadership and Strategic Decision – making
· Training in organizational leadership and strategic planning |
| 4.Internship/ Industry Project
· Practicle exposure to actuarial practise in a professional setting. |
4.Advanced Econometrics for Actuarial Science
· Applications in Forecasting and risk modeling. |
| 5. Research Methodology and Proposal writing
· preparing for the final research project. |
5.Seminar on Actuarial Innovations
· Presentation of research finding and industry trends |
| 6.Electives IV
· Catastrope , Modeling, Blockchain for Actuaries |
6.Preparation for Professional Innovations
· Presentation of research finding and industry trends. |
Eligibility Criteria
For National Students:
- Must Passed XII std Examination of the Maharashtra Board or any Board of Higher Secondary Education or its Equivalent and secured not less than 50% marks in aggregated at the first attempt (45% for the reserved category)
- Having Mathematics as a Compulsory Subject in Class XII.
- Every Candidate admitted to the degree course in the constituent, conducting the course shall have to register themselves with the University.
For International Students:
- The Eligiblity Criterion for all the programs for international applicants is minimum 50% in the qualifying examination in to the desired program.
- Having Mathematics as a compulsary subject.
Tuition Fees
| Student Nationality | Duration of the Course | Tuition Fees Per year |
| Indian Nationals | 4 Years | 5,50,000 INR |
Program Highlights
The B.Sc. Actuarial Science Program Combines Mathematics, Statistics, Economics and Finance to prepare Students for Professional Actuarial roles. The program’s highlight emphasize its industry relevance, practical focus and alignment with global standards.
- Professional Certification Alignment
- Comprehensive Curriculum
- Hands on Learning
- Focus on Analytical and problem solving skills
- Capstone Projects and Research
- Global and Industry relevant scope
- Skill Development Beyong Actuarial Science
- Career and Industry Preparation
- Flexible Electives
- International Opportunities
Scope of the Programe
The Scope of a B.Sc. Actuarial Science Program is vast, as it prepares students for careers in actuarial Science and related fields that require strong analytical, mathematical and financial expertise. Actuarial are in high demand across various industries due to their ability to Asses and manage financial risks, making this program highly valuable for future professionals.
- Career Opportunities across Industries: Insurance, Pensions and Retirement Benefits, Banking and Finance services, Data Analytics and Technology, Healthcare, Government and Public Policy
- Path To professional Actuarial Certification: Institute and Faculty of Actuaries, Society of Actuaries, Institute of Actiaries of India
- Global Oppertunities : Acturies are recognized globally, offering graduates the chance to work in international markets, especially in countries where actuarial skills are in demand.
- Research and Higher Studies : Students can pursue advanced degree like M.Sc. Acturial Science, PhD in Actuarial, Quantitative Risk Management.
- Growing Demand for Actuaries : Actuaries rank among the most sought after professionals due to their unique skill set, Industries like InsureTech, Fintech, and Climate Risk Management are emerging fields where actuaries play critical roles.
- Entrepreneurship Opportunities : Graduates with entrepreneurial ambitions can start Consulting Firms specializing in Risk Management, Insurance Solution, or Data Analytics.
Programme Outcomes
- Students Learn to apply theory learned so far up to 12th std since Actuarial Science is applied subjects.
- Students Employability increases due to various techniques covered in the papers like Design of Experiment, Regression Analysis, Reliability and survival analysis which are the main features used in Business Analytics
- Due to the subjects like C programming and statistical computing using R software students get exposure to computer Knowledge and their use and hense their logical thinking is developed.
- Students get knowledge of basic concept required for higher studies
- Students starts thinking more Scientifically and Analytically
This Program is ideal for students who excel in Mathematics, enjoy problem solving and aspire to a career with global opportunities and significant societal impact, as it gives High Earning Potential, Global recognition,Diverse Career Paths, Future Focused.
Internship and Placement Opportunities
The B.Sc. Actuarial Science Program prepares students for successful career by offering practical exposure, real world experience, and strong industry connections, with the dedicated support, robust industry collaboration, and focus on practical learning, the B.Sc. Actuarial Science Program ensure students are well prepared for rewarding internship and placement in top-tier organizations world wide, which gives Real-world Exposure, Skill Enhsncement, Networking, Career Readiness, Global Recognition.
Internship Opportunities:
- Mandatory Internship are integrated into the program, typically during the 3rd / 4th
- Students work with leading organization like Insurance, Reinsurance,Finance & Investment,Consulting
- Students may engage in roles such as: Actuarial Trainee, Risk Management Intern, Data Analytics Intern, Pension Scheme Assistant, Financial Modeling Assistant.
- Partner Organizations by collabrating with the leading firms ensure valuable learning experience.
- Research Internship by focussing on Climate risk Modeling, Predictive analytics, Healthcare Financing.
Placement Opportunities:
- Career roles Secures Positions like Actuarial Analyst, Data Scientist, Risk Manager, Pension Consultant, Investment Analyst.
- Industries Hiring Actuarial Science Graduates for firms Like Insurance, Banking & Finance, Pension Funds, Data Analytics Firms, Technology Firms.
- Placement Assistance with the Dedicated Career Services Team for giving 100% regorous training and grooming session like often Mock Interview, Resume Building , Group Discussion Professional Networing opportunities lots of live workshops on industry Trends and actuarisl software
- Top Leading Recruiters who Hire Actively Graduates of Actuarial Science.
- Global Placement Opportunities Opens wide options of career avenues in many countries like USA, UK , Canada, Australia etc.
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