How likely is it that a 17-year-old male who drives a red sports car will be involved in an accident in a given year? How much should a company expect to spend on warrantee payments in the coming year for a product they manufacture? How much should the price of a health insurance policy differ between a smoker and a non-smoker? How much would you be willing to pay for a financial contract that guarantees you $20,000 each year for the rest of your life? How much should a financial institution keep in reserve to ensure they can pay out $20,000 each year for the rest of your life? What is the likelihood that an individual who begins receiving a pension at age 65 will live to age 90? These are all questions that an actuary can help answer. Generally speaking, actuaries are highly skilled professionals who use mathematics, statistics, and finance to analyze the potential consequences of uncertain future events.

Career Opportunities

Actuaries are employed by insurance companies, consulting firms, and other businesses in which risk management plays a critical role. The profession is highly rated for job satisfaction, compensation, and future demand in sources such as U.S. News & World Report and CareerCast. The Bureau of Labor Statistics reports a median salary exceeding $100,000 and a projected employment growth of 22 percent for the next 10 years (compared to seven percent for all occupations). Graduates of the program at the University of Evansville have achieved the status ASA (Associate of the Society of Actuaries) and FSA (Fellow of the Society of Actuaries) and work for industry-leading companies such as Humana, USAA, and Milliman.

Curriculum

The Actuarial Science program at UE combines a rigorous foundation in mathematics, together with supporting work in statistics and business, to prepare students for immediate employment as an actuarial analyst. Courses in probability, financial mathematics, actuarial models, statistics, and finance provide a thorough treatment of the topics covered on the Society of Actuaries (SOA) Exams P, FM, LTAM, SRM, and IFM. Courses in mathematical statistics, accounting, economics, and finance satisfy all of the components of the SOA Validation by Education Experience (VEE) requirements. In addition to completing course work in their major, students are encouraged to:

• Pass at least two SOA exams
• Participate in a summer actuarial internship
• Network with recent UE actuarial graduates

Details on program requirements and course descriptions can be found in the course catalog.