MS in Actuarial Science, Insurance Concentration

The Master of Science in Actuarial Science concentration in Insurance at Boston University’s Metropolitan College (MET) provides a focused pathway to master the intricacies of the insurance industry. The Insurance concentration covers advanced topics in life, health, and property and casualty insurance, emphasizing risk assessment, policy design, and pricing strategies. You will explore cutting-edge techniques in loss modeling, reserve estimation, and insurance analytics, as well as regulatory frameworks, solvency requirements, and emerging trends in Insurtech. As you apply actuarial principles to real-world insurance scenarios through hands-on projects and case studies, you will develop expertise in product development, underwriting, and claims management—specialized knowledge and skills to help you excel in various roles within insurance companies, reinsurance firms, and regulatory bodies.

Courses in BU MET’s Actuarial Science master’s degree program are designed to not only help you have a deep understanding of the subject matter, but also to assist you in preparing for examinations offered by the SoA and CAS. These examinations are essential in an actuary’s career. Students who follow the SoA exam track will typically work in fields such as life insurance, health insurance, long-term care insurance, and pension plans, all of which use the probability of mortality. Those who follow the CAS exam track will typically work for companies that develop premiums for risks that are more quantifiable, such as automobile and homeowner’s insurance.

Students who complete the Actuarial Science master’s degree concentration in Insurance will be able to demonstrate:

• Knowledge in individual, group, and property and casualty insurance, as well as related tools and algorithms.
• Detailed knowledge of the mathematics and modeling techniques that form the core of actuarial calculations. This knowledge includes topics in probability, statistics, life contingencies, loss models, credibility theory, investment theory, and financial mathematics.
• An accurate and deep understanding of these core actuarial topics and the ability to creatively solve increasingly complex business problems.
• Proficiency in distinguishing and describing a wide range of actuarial practice areas in-depth and knowledgeably, and the ability to articulate an understanding of the principles that govern the development of both standard insurance products and new developments risk management models.
• Competency in the computer skills required to analyze data using leading-edge software tools of the trade in insurance, risk management, and related industries.

Qualifying international students in F-1 status are also entitled to Curricular Practical Training (CPT), a type of employment/internship authorization, after completing two consecutive full-time semesters of study in the program.

Second Master’s Degree Option

In appreciation of the converging needs of management and technology, the departments of Actuarial Science, Administrative Sciences, and Computer Science collaborate to offer a unique opportunity to students currently enrolled in their degree programs as well as alumni of those programs. Learn more.