Actuaries Courses

Introduction:
Actuarial science or Insurance is a subject that applies mathematical principles to assess
risks of insurance and premium. Actuaries are organizations that provide services in
sectors like finance and investment, insurance (health, life, general) and several benefit
plans regarding employee retirement. There are quite a number of students who are now
opting for Actuaries courses. Courses in Actuarial Science have opened up lucrative
career opportunities for many.
Qualifications: Actuarial Science is taught in India as a three year degree course; though
several short term courses are also offered by many Institutions. The courses on Actuarial
Science and their details are

B.A (Insurance), B.A (pass) with insurance as a subject, Duration: 3 years.

Eligibility: Class XII.

PG Diploma in Certified Risk and Insurance management, Duration: 3 years

(regular), 2 years (accelerated)
Eligibility: Graduation (for regular), Post Graduation (for accelerated)
Certificate course in intermediaries in Specific insurance subjects, Duration: 3
months, Eligibility: Graduation
Course for insurance agents, duration: 100-150 hours
Eligibility: Class XII
Courses for Insurance managers, Duration: 1 year
Eligibility: Graduation
PG Diploma in Insurance and Risk Management, Duration: 1 Year (regular), 18
months (part time)
Eligibility: Graduation/CA
B.S.C (with Actuarial science as a subject as an approved combination), Duration:
3 years
Eligibility: Class XII
PG Diploma in Insurance Science, Duration: 1 year
Eligibility: Graduation
PG Diploma in management of Insurance and financial services, Duration: 15
months, Eligibility: Graduation
Master's program in Insurance Business, Duration: 2 years
Eligibility: Graduation.
Foundation in Financial Planning
Eligibility: Graduation.
M.S.C in Actuarial Science, Duration: 2 years
Eligibility: B.S.C

Institutes offering Actuarial Courses

Major institutes offering courses on actuarial science are Actuarial Institute of India, Mumbai
Institute of Certified Risk and Insurance Managers, Hyderabad
University of Delhi, Delhi
The College of Vocational Studies (University of Delhi),
Academy of Insurance Management, Asia Pacific Institute of Management, New
Delhi
Birla Institute of Management Technology, New Delhi
Goa University, Goa
Kurukshetra University, Kurukshetra
Department of Humanities and Social Sciences, Indian Institute of Technology
(IIT), Mumbai
University of Bombay, Mumbai,
University of Pune
University of Chennai
Aligarh Muslim University, Aligarh
University of Kalyani
For becoming an actuary, it is necessary for an individual to pass an entrance test
conducted by the Actuarial Soiety of India (ASI).
Benefits: The courses on actuarial science and insurance provide an individual with the
skills required to find a job in this field. A person can choose the course according to his
academic background.
Scope in India: A person trained in actuarial sciences can join the government as well as
the private sectors. He can find a job as an agent or a licensed insurance surveyor. The
salary in case of Government jobs ranges between Rs.3, 000-Rs.8, 000 for development
officer and Rs.14, 000-Rs.16, 000 for Zonal managers. In Private sectors the salary starts
from Rs.6, 000-Rs.9, 000 and management graduates can join for Rs.15, 000-Rs.25, 000.
Scope abroad: Multinational insurance companies are hiring trained Indian personnel for
comparatively higher salary jobs in countries like U.K