Actuarial Science

The actuarial science major provides training for careers that involve analyzing and solving business and social problems related to insurance, pensions, Social Security, and related fields.

Actuaries are licensed professionals trained in mathematics, statistics, and economics. They use their skills and knowledge to put a financial value on future risk-based events. For example, an actuary might determine how much money a health insurance company could expect to spend on all claims in one year.

Actuaries work for insurance companies, investment firms, government agencies, employee benefits consulting firms, and others. The actuarial profession is consistently rated among the top professions in America in the Jobs Rated Almanac, due to its high salaries and pleasant working conditions.

Ball State is the only university in Indiana that offers complete bachelor’s and master’s degree programs in actuarial science. The undergraduate program includes course work that prepares you for the first four examinations offered by the Society of Actuaries and the Casualty Actuarial Society.

You will take courses in calculus, algebra, statistics, and probability in addition to advanced classes in actuarial science. You will also take classes on the principles of insurance and risk management and advanced topics in life and health insurance and employee benefits. You will have the opportunity to gain practical experience in actuarial science through summer internships and jobs.

If you would like to major in actuarial science, you should take all the college preparatory mathematics courses that your high school offers. You should enter college with a strong understanding of high school algebra, geometry, trigonometry, and pre-calculus.

Related Link

Department of Mathematical Sciences