Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science to assess risk in insurance, finance, and other industries and professions. Actuaries play a crucial role in the operation and profitability of any insurance business. They help the firm with their expertise in calculation of premiums of various insurance policies, rating methods and reserves, asset valuation, pricing of securities and derivatives, risk valuation, risk management and so on.
The emerging trend in insurance, its increasing scope and the need for actuarial professionals has made the actuarial studies an attractive one. Post Graduate diploma in Actuarial Science (PGDAS) was started by Bishop Heber College with the assistance of LIC and IAI (Institute of Actuaries of India) in the year 1991, Bishop Heber College is the pioneer in offering actuarial science programme in Asia. The college started an independent department by introducing master’s programme in the year 2002 and at present, it is following the revised syllabus of IFOA and IAI. Further, B.Sc., Actuarial Mathematical Science was started in June 2012. Currently, the department runs B.Sc., and M.Sc., Programmes, and the department has an excellent placement record since its inception.
The syllabus is framed and revised based on IFOA guidelines. This programme is specially designed to clear the papers of the Institute of Actuaries with ease. The process of getting exemption from IFOA is under progress.
ACTSUM is a National Actuarial Summit being conducted every year on various topics. It is designed as a platform where all actuarial legends, corporate sectors and other professionals gather and discuss the happenings of the actuarial field.
In line with the present educational trend, the department has signed a number of MoU's with various institutions and reputed organizations in order to promote exchange of information, thereby facilitate and upgrade the quality of education. MoU’s with the following organizations are signed recently
The department feels elated, when the actuaries of various companies accredit the students of Bishop Heber College as ‘Efficient and Dedicated Employee’. The willingness of various companies to recruit the students of the department with an attractive salary, through the campus interview acknowledges the positive responses. The companies like WNS, AON, Swiss Re, Deloitte, Reliance Life Insurance Company, Arrow Point, etc. exclusively conduct campus interviews for actuarial jobs every year for our students. Moreover, students are placed as actuarial analyst/managers through off-campus interviews with the companies like Watson Wyatt, Mercer, etc.,
Actuarial skills are of great value in any business firms, managing long term financial projects both in public and private sectors. Bishop Heber College is the first college in Asia to offer this programme and has been running it efficiently and successfully till date, attracting students not only from other states but also from other countries. The programme is specially designed to reduce the time to qualify as an Actuary. Independent project works are done by the students in their last semester.
The department started the undergraduate programme in the academic year 2012-2013. This is a three-year full-time programme which includes all the basics of Actuarial field, which leads to fellow of the Institute of Actuaries of India. The department focuses on developing the young minds to become an actuary with mathematical and statistical skills, computer programming skills, business understanding, communication and leadership skills.
Actuarial Science (UG)
To build a centre of excellence in actuarial and current business trends, to sort after professionals who develop and communicate solutions for complex financial issues of nation and to inculcate values in order to address the problems of humanity.
Actuarial Science (PG)
Building a centre of excellence in actuarial and current business trends to sort after professionals who develop and communicate solutions for complex financial issues of nation and to inculcate values in order to address the problems of humanity.