Actuarial scienceis the discipline that applies mathematical and statistical methods to assess risk in insurance,financeand other industries and professions. Actuaries are professionals who are qualified in this field through intenseeducationand experience. In many countries, actuaries must demonstrate their competence by passing a series of thorough professional examinations.
Actuarial science includes a number of interrelated subjects, including probability,mathematics, statistics, finance, economics, financial economics, and computer programming. Historically, actuarial science used deterministic models in the construction of tables and premiums. The science has gone through revolutionary changes during the last 30 years due to the proliferation of high speed computers and the union of stochastic actuarial models with modern financial theory
Most actuaries love being an actuary because it allows them to use their talents and have a meaningful positive impact. As one actuary put it: “I like to think that I’m helping people. I’m helping them get goodhealthcare, I’m helping them protect themselves in old age. I’m creating economic growth.” But there are so many other great reasons to consider a career as an actuary:
The insurance industrycan’t function without actuaries. We calculate their costs and determine the premiums for policyholders; and while we don’t forecast the weather, we can tell them how much they can expect to pay in claims after the next Florida hurricane.
Private corporationsrely on our risk evaluation to frame their strategic management decisions. And because our judgment is highly valued, our career paths often lead to upper management and executive positions.
We’re also employed asconsultants. Whether we’re part of a nationwide firm or an independent one-person practice, we help companies design pension and benefit plans, evaluate assets and liabilities, and stare down risk–all alongside top executives.
We work forthe governmenttoo, helping manage its programs and overseeing public companies to ensure compliance with regulatory laws.
We also work for:
Below are the actuarial Science universities inGhana;
BSc Administration (Insurance with Actuarial) Pentecost University College
Bsc Actuarial Science Methodist University College
Bsc Actuarial Science Presbyterian University College Of Ghana
Bsc Actuarial Science University Of Energy And Natural Resource
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