Actuarial Science Program
The University of Illinois Actuarial Science Program, one of the largest programs in the U.S., is housed in the Department of Mathematics. The program prepares students for careers as actuaries and enterprise risk analysts. The program curriculum reflects the interdisciplinary nature of actuarial science, allowing students to receive not only essential actuarial training, but also to take a variety of courses in mathematics, statistics, economics, finance and computer science.
The Illinois Actuarial Science Program has been named a Center of Actuarial Excellence by the Society of Actuaries (SOA), one of a few such programs in the U.S. to be so recognized. The designation is earned by meeting stringent requirements and qualifications regarding quality of degree program and curriculum at the undergraduate and graduate levels, faculty composition, connections to industry, and research/scholarship.
Tradition and strengths
The Department of Mathematics in Illinois has a rich history of being home to many world-renowned founding fathers of modern probability theory. The probability theory has given rise to revolutionizing development in finance and actuarial science. Built on such a strong tradition, the Illinois Actuarial Science Program is uniquely positioned to offer rigorous training on probability modeling.
The Illinois Actuarial Science Program also works closely with the Department of Statistics to offer training on statistics and data analytics. It is one of very few actuarial programs in the world that provides comprehensive training on both casualty actuarial science, which has been traditionally statistics focused, and life insurance mathematics, which concentrates on probabilistic applications.
The Illinois Actuarial Science Program is a founding member of the Annual Midwest Actuarial Student Conference (MASC), which provides opportunities to actuarial students for networking with peers and employers. The program also has close ties with both the SOA and the Casualty Actuarial Society, many insurance companies and consulting firms. Many students find internships at the University of Illinois Research Park. Our faculty members have been awarded many research and educational grants from international actuarial organizations such the SOA and the Actuarial Foundation.
The Actuarial Science Club (ASC) is a very active registered student organization that serves many purposes. Its primary function is to inform students about what it takes to become an actuary and get a job in the field. The ASC also hosts a career fair each year, where students are able to network with company representatives in hopes of finding a great internship or full-time job. Students are able to go on company field trips where they get to witness actuaries on the job and what their lives will be like after graduation.
The club offers a variety of social and networking events where students can get to know their fellow classmates, professors, and even alumni. There are monthly dinners for students to attend, alumni events, and company presentations. The club is a great way to learn about the major, meet new people, and be involved on campus.