Actuarial Science with Data Analytics MSc, PGDip
9 months-1 year, full-time
Problem solver. Business analyst. Risk assessor. An actuary wears many hats, but that’s what makes a career in the field so rewarding. With a qualification in actuarial science and data analysis, you’ll have the skills to make your mark in a range of industries.
Course information
UK fee £12,950
International fee £23,650
Taught by Mathematical Sciences
MSc Actuarial Science Admissions Team
+44 (0)116 252 3953
cmsadmin@le.ac.uk
Course description
Course description
This programme is for you if you want to kick-start your actuarial career and gain the skills to apply data analytics to solve real business problems.
Whether you have yet to start the actuarial professional exams, or you have already passed some of the Core Principles subjects you will be able to choose a route that maximises your potential exemptions from the IFoA exams. In some cases you will be able to finish with all the exams needed to become a fully-qualified actuary as an Associate member of the IFoA (Qualification as an Associate requires two years' work experience qualifying for PPD, successfully completing the online Professional Skills Course, and successfully completing the online CB3 course and assessment.)
Data skills are vital for all professionals and Data Analytics is at the heart of this course which has been designed for maximum flexibility, allowing you potentially to gain exemptions from all the examined Core Principles subjects (CS 1&2, CM 1&2, CB 1&2) or, if you already have some passes under your belt, to add the Core Practices subjects (CP 1, 2 & 3). After the compulsory Data Science module, you are free to select modules that align with your personal goals – whether that’s to gain as many exemptions as possible, or to explore more advanced data analytics topics like Data Mining and Neural Networks. All our actuarial modules are taught with an emphasis on the ability to manipulate and analyse realistic data sets using industry standard software so you can be sure you are developing skills that are highly sought after by industry.
But actuarial science is not just about quantitive data and mathematical techniques. In every module you will be supported to develop key business skills – problem solving, communication and teamwork – as well as growing your understanding of the business and financial environment where actuaries operate. This unique combination of technical expertise and transferable business skills means you will be well placed to work in the worlds of insurance, pensions, healthcare, banking, business management and risk assessment. You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make while continuing your actuarial professional qualification.
Entry requirements
Entry requirements
At least a 2:1 in a relevant subject (Mathematics, Statistics, Sciences, Economics). We will consider graduates from other subjects on an individual basis - students will need to demonstrate their ability in mathematics is at an appropriate level if do not have at least a B at A-level.
English Language Requirements
IELTS 6.0 or equivalent. If your first language is not English, you may need to provide evidence of your English language ability. If you do not yet meet our requirements, our English Language Teaching Unit (ELTU) offers a range of courses to help you to improve your English to the necessary standard.
International Qualifications
Find your country in this list to check equivalent qualifications, scholarships and additional requirements.
Countries listFees and funding
Fees and funding
UK Students
Starting in September 2024
- MSc: £12,950
- PGDip: £12,305
If you are resident outside the UK and the Republic of Ireland, you will need to pay a deposit of £3,000 to secure your place. This will be subtracted from your total tuition fee.
Find out more about scholarships and funding
Did you know you can apply for a Government Postgraduate Loan? Find out if you’re eligible.
International Students
Starting in September 2024
- MSc: £23,650
- PGDip: £18,920
You will need to pay a deposit of £3,000 to secure your place. This will be subtracted from your total tuition fee.
From 2022 onwards, EU nationals will pay the International fee. If you are an EU national with settled or pre-settled status under the EU settlement scheme, you may qualify for the UK fee (subject to criteria).
Find out more about scholarships and funding.
Accreditation
Accreditation
Our Actuarial Science degrees are accredited by the Institute and Faculty of Actuaries (IFoA). This MSc offers a fast track route to qualifying as an actuary.
The MSc Actuarial Science with Data Analytics will offer exemptions under the new IFoA Curriculum 2019. Our accreditation agreement allows you potentially to gain exemptions from all the examined Core Principles subjects (CS 1&2, CM 1&2, CB 1&2) or, if you have already have some passes under your belt, to add the Core Practices subjects (CP 1, 2 & 3).
The PGDip option is available after two semesters of study and offers the potential for exemptions from all the examined Core Principles subjects (CS 1&2, CM 1&2, CB 1&2).
Careers and employability
Careers and employability
You will be well-placed to work in the worlds of insurance, pensions, healthcare, banking, business management and risk assessment. You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make.
We aim to develop graduates who:
- are comfortable with data and manipulating it
- have great team working skills
- can communicate persuasively in speech and writing
- know why they are in an organisation and what they can contribute
We also support the employability of our students via:
- our award-winning careers team, who are well-resourced to support any type of application or employer assessment
- dedicated employability advisers within the careers team, who understand the markets they are applying to
- weekly employability sessions with qualified actuaries reviewing applications and giving advice based on industry experience, available to campus-based students and distance learning students via Skype
- regular actuarial society events attracting actuarial and other financial employers to the campus to meet students
- a professional skills and employability module
Our Careers and Employability Service is here to support you, with advice on interviews, CVs, work experience, volunteering and more. From Freshers’ Week to Graduation and beyond, they are here to help you reach your professional goals.
Course structure
MSc
MSc
Core module
Option modules
Choose three option modules from:
- Actuarial Modelling 1 (CM1)
- Markov Processes (CS2)
- Statistical Distributions and Inference (CS1)
- Financial Engineering for Actuaries (CM2)
- Business Microeconomics (CB2)
- Actuarial Professional Skills and Employability
- Operational Research
- Fundamentals of GIS*
* must be chosen if wishing to select Geospatial Data Analytics from the list below
Plus four option modules from:
- Business Finance (CB1)
- Actuarial Modelling 2 (CM1)
- Survival Models (CS2)
- Statistical Data Analysis (CS1)
- Liability Modelling (CM2)
- Business Macroeconomics (CB2)
- Generalised Linear Models
- Data Mining and Neural Networks
- Actuarial Practice Workshop**
- Geospatial Data Analytics*
* must have chosen Fundamentals of GIS from the earlier list
** Actuarial Practice Workshop is a prerequisite for Actuarial Practice
Summer modules
Core modules
- Actuarial Communications Project (CP2 and CP3)
Option modules
Choose& one option module from:
** Actuarial Practice Workshop is a prerequisite for Actuarial Practice
Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.
PGDip
PGDip
If you wish to complete a PGDip instead of an MSc, you will take the same core and option modules, but not the summer modules that are part of the MSc.
Core module
Option modules
Choose three option modules from:
- Actuarial Modelling 1 (CM1)
- Markov Processes (CS2)
- Statistical Distributions and Inference (CS1)
- Financial Engineering for Actuaries (CM2)
- Business Microeconomics (CB2)
- Operational Research
- Fundamentals of GIS*
* must be chosen if taking wishing to select Geospatial Data Analytics from the list below
Plus four option modules from:
- Business Finance (CB1)
- Actuarial Modelling 2 (CM1)
- Survival Models (CS2)
- Statistical Data Analysis (CS1)
- Liability Modelling (CM2)
- Business Macroeconomics (CB2)
- Generalised Linear Models
- Data Mining and Neural Networks
- Geospatial Data Analytics*
* must have chosen Fundamentals of GIS from the earlier list
Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.
Why Leicester?
These programmes are accredited by the Institute & Faculty of Actuaries – it's possible to achieve exemptions from all the examinations covering the Core Principles subjects. In addition, with the MSc it's possible to achieve exemptions from all the examinations required to become a fully qualified actuary if you have already passed some of the early exams.
Emphasis on working with real data gives you the analytics skills that the industry needs from finance and risk management professionals.
You'll receive career support from the start with personal support from experienced, qualified actuaries, a module on Actuarial Professional Skills and Employability, and the opportunity to network at meetings of our own regional actuarial society (LASS).
The flexibility of this programme and the wide choice of modules allows you to tailor the programme to your professional goals.
Teaching and learning
The programme will be taught using computer classes, problem classes, skills sessions, supervision while undertaking extensive project and dissertation work as well as lectures. Some elements of supported eLearning will be used to refresh mathematical skills as necessary. Assessment will be via course work, computational exercises, projects and written exams. In addition to the mini-projects present in each module, the MSc offers two supervisor-led summer projects to gain exemptions from Core Practice subjects 2 and 3.
Key dates
September 2024 start
- Application deadline: 9 September 2024 (Please note if you require a visa to study you will be required to submit your course application by 26 July 2024)
- Deposit payment deadline: 9 August 2024
- CAS request deadline: 6 September 2024
- 70% tuition payment deadline: 6 September 2024
Apply now
| Course | Qualification | Duration | Start Dates | Availability |
|---|---|---|---|---|
| Course Actuarial Sciences | Qualification MSc | Duration 1 year, full-time | Start Dates September each year | Availability Apply Now |
| Course Actuarial Sciences | Qualification PGDip | Duration 9 months, full-time | Start Dates September each year | Availability Apply Now |
The course is so interesting because it combines mathematical theories and their application to many real-world projects.