Actuarial science for the modern world

More and more, actuaries use data analytics to help assess risk and inform policy. Concordia's new Actuarial & Data Sciences major meets the market's demands by preparing students with current, relevant knowledge and skills in both actuarial science and data analytics.

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Program Overview

Actuarial science is an intense field, and will require a sharp, analytical mind, coupled with hard work and dedication to pass the certification exams and practice as an actuary. But it is a rewarding field, and in high demand. According to the Bureau of Labor Statistics, the median pay is over $110K, and the demand for actuaries is expected to increase 24% by 2030.

Actuaries assess risk to help make wise decisions for their organizations. Most actuaries work in insurance, but they can also work in finance, healthcare administration, wealth management, and any other industry where predictions and decisions must be made to mitigate risk.

Like all industries, the actuarial science profession is constantly changing to adapt to new technologies. With the computing capabilities that we now have, actuaries are increasingly dependent on data science and analytics. In 2021, the Society of Actuaries announced a change in their Associate of the SOA (ASA) education requirements, including an updated curriculum designed to meet employer and market demands for increased coverage of data analytics.

Concordia's new actuarial and data sciences major couples proven actuarial science methodologies with cutting edge data science technologies to thoroughly prepare tomorrow's actuaries with the skills needed to assess risk in the modern world.

What to Expect

This well-rounded, in-demand program explores topics and practices in:

  • Mathematics
  • Computer Science
  • Data Science & Analytics
  • Finance & Accounting
  • Actuarial Science

In this program, students will:

  • Solve real-world problems by applying the concepts and strategies of actuarial and data science, using computer software tools when appropriate
  • Communicate effectively using oral, written, and symbolic formats
  • Be prepared to pass The Society of Actuaries Exam P and Exam FM
  • Analyze and interpret data using an ethical approach stemming from a Christian worldview

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