Statistics - Actuarial Science, BS
Earn two degrees in five years
Earn your bachelor's and master's degrees in statistics in just five years. Choose any of UA's three Statistics B.S. pathways and count nine graduate credits toward both degrees, saving time and money while advancing your expertise.
Program Details
- Location
- Akron Campus
- Level
- undergraduate
- Academic Pathway
- major
- Degree/Program Type
- Bachelor of Science
- Format
- In-person
- Course Info
- Curriculum Guide
- College
- Buchtel College of Arts & Sciences (BCAS)
- School/Department
- Department of Statistics
Program Contact
- Dr. Nao Mimoto
-
Interim Chair / Associate Professor / Actuarial Science Program Coordinator / Undergraduate & Graduate Academic Advisor
330.972.8011
Overview
In addition to a strong foundation in statistics, the Actuarial Science track prepares students for careers in the actuarial field, where analytical skill, financial acumen, and risk assessment expertise are in high demand. You’ll study probability, economics, finance, and insurance while building the technical skills to pass professional actuarial exams and excel in data-driven decision-making roles.
What You'll Learn
- Analysis of modern industrial society
- Economic Theory and its relation to economic reality, including formulation of economic policy
- Value of money, annuities, loans, bonds, cash flows, and immunization, and interest rate swaps
- Credibility procedures and fundamental principles of pricing in short-term insurance coverage
- Accounting principles including accounting for revenues, expenses, assets, liabilities, equity, accounting standards, and financial statements
- Major decision areas of financial managers such as capital budgeting, financing, and working capital management
- Risk management and legal concepts of insurance contracts, personal insurance, and commercial property as well as casualty insurance policies
Admissions Requirements
Students must meet the general admission requirements of The University of Akron.
Career Outcomes
Actuarial careers consistently rank among the top jobs in terms of salary, job security, and job satisfaction. The U.S. Bureau of Labor Statistics projects 23% growth for actuaries through 2033, far faster than average, with a median annual wage of more than $120,000. Graduates work in insurance, finance, consulting, and government, using statistical and economic models to forecast risks, design policies, and inform investment strategies.
Additional Program Information
Required Courses
- General Education Requirements
- Statistics Core
- Analytic Geometry-Calculus I, II, and III, Programming for Data Science/Computer Science I, Theoretical Statistics I and II, Applied Statistics/Introductory Statistics I & II, Applied Regression and ANOVA, Statistical Data Management, Statistical Consulting
- Actuarial Science Requirements
- Introduction to Economic Analysis or Principles of Microeconomic/Macroeconomics, Introduction to Actuarial Science, Actuarial Models, Time Series Analysis, Accounting Principles I, Principles of Finance, Investments or Risk Management: Property and Casualty and Risk Management: Life and Health Insurance
- Statistics Electives
Build the skills to understand risk
Combine statistics with economics, finance and insurance to evaluate uncertainty, understand its financial impact and help organizations make informed decisions.
ROOTED IN STATISTICS
Build your actuarial foundation in statistics
Study actuarial science within UA's Department of Statistics, building skills in calculus, probability, theoretical and applied statistics, regression and data management alongside your actuarial coursework.
BUSINESS + RISK
Connect numbers to financial decisions
Develop knowledge in economics, accounting, finance, investments and insurance to understand how organizations evaluate risk and make financial decisions.
Where can a Statistics - Acturarial Science B.S. take you?
Actuarial science combines statistics, finance and risk analysis, opening doors to careers in insurance, consulting, business and investments. Explore some of the roles where you can use your quantitative skills to evaluate risk and help organizations make informed decisions.
What They Do
Design and price insurance policies, taking into account a complex set of factors. Statistics, calculus, probability, and exceptional analytical skills are must-haves for this career.
What They Do
Provide consulting services to companies such as insurers, banks, government regulators, etc. to manage risks and evaluate plans using sound business judgement and the ability to summarize and communicate complex technical information to non-specialists.
What They Do
Improve business processes by serving as a liaison between business and IT with a clear directive to focus on advancing strategic business objectives.
What They Do
Help traders, fund managers, and stockbrokers make sound investment decisions by utilizing a deep understanding of economic trends and interpretations of financial data.
What They Do
Determines whether or not to accept applications for insurance coverage by considering the risks involved in protecting the policyholder based on a variety of factors. Carry out risk assessments by preparing insurance policies and collecting and analyzing statistical data.
See actuarial science in action
Hear how a UA student turned his actuarial science coursework into professional exam preparation and real-world experience.
From the classroom to an insurance internship
Statistics major Adam Taschner says his actuarial science coursework gave him the statistical foundation and skills he needed to prepare for professional exams. He also found an internship through UA's Handshake, where he gained experience across multiple areas of the insurance industry.
Build your professional connections
Explore opportunities to connect your actuarial studies with professional organizations, student involvement and employers in Northeast Ohio.
Explore professional resources and become a member of the Society of Actuaries and Casualty Actuarial Society, two organizations serving the actuarial profession.
- Connect with students interested in actuarial science, insurance and risk management through Gamma Iota Sigma.
- All students interested in in statistics and data can join the RooStats Statistics Club.
- Actuarial Science students can also explore connections with UA's Risk Management and Insurance certificate in the College of Business.
Northeast Ohio is home to companies with actuarial, insurance, financial and risk-related positions, giving students a regional market to explore for internships and future career opportunities.
NEO Companies with an Actuarial Position
- AIG
- AmTrust Financial
- Aon Hewitt
- Erie Insurance
- National Interstate
- Nationwide
- Ohio Insurance Companies
- Progressive
- Risk International
- State Auto Insurance
- Tegrit Group
- Willis Towers Watson
Companies with Non-Actuarial Positions
- Charles Schwab
- Continental (Veyance)
- Crum Foster
- Valmark Securities
Access study tools, actuarial exam preparation resources and career sites commonly used by actuarial science students.
Exam preparation and study resources
Career and internship resources
Explore professional resources and become a member of the Society of Actuaries and Casualty Actuarial Society, two organizations serving the actuarial profession.
- Connect with students interested in actuarial science, insurance and risk management through Gamma Iota Sigma.
- All students interested in in statistics and data can join the RooStats Statistics Club.
- Actuarial Science students can also explore connections with UA's Risk Management and Insurance certificate in the College of Business.
Northeast Ohio is home to companies with actuarial, insurance, financial and risk-related positions, giving students a regional market to explore for internships and future career opportunities.
NEO Companies with an Actuarial Position
- AIG
- AmTrust Financial
- Aon Hewitt
- Erie Insurance
- National Interstate
- Nationwide
- Ohio Insurance Companies
- Progressive
- Risk International
- State Auto Insurance
- Tegrit Group
- Willis Towers Watson
Companies with Non-Actuarial Positions
- Charles Schwab
- Continental (Veyance)
- Crum Foster
- Valmark Securities
Access study tools, actuarial exam preparation resources and career sites commonly used by actuarial science students.