What is Actuarial Science?
Actuarial Science is the discipline that supports the business of actuaries in many fields. The main problem actuarial science solves is analyzing and evaluating future risks and uncertainties inherent in the insurance, pension, and financial industries by using mathematical approaches, including probability theory and statistics. Actuarial science is an extremely comprehensive research field in the sense that it brings into play the wisdom from economics, accounting, and investment theory, and also sheds light on social issues such as population, healthcare, and pension.
The history of insurance mathematics education in Kyoto University
Since 1994, the number of students at Graduate School of Science of Kyoto University has doubled in the context of "Key Policy on Graduate Education".Accordingly, not only the education for mathematicians given so far, the importance to train experts who are competent in business practices was also recognized. In 1988, Graduate School of Science initiated a curriculum of insurance mathematics in cooperation with the Institute of Actuaries of Japan. Moreover, as a part of "Fostering Top Leaders in Mathematics - Broadening the Core and Exploring Next Ground" of the "Global COE Program", started in 2008, Graduate School of Science established the Actuarial Science Section in October 2010, providing more comprehensive educational contents for students aiming to become actuaries.
The number of graduate students enrolled in the major of Actuarial Science is about 5 every year. Now, many of our alumni are playing an active part in relevant industries.
We offer courses of Insurance Mathematics, Pension Plan Design, and Mathematical Finance for both undergraduates and graduates. The lecturers, dispatched from Institute of Actuaries of Japan, instruct the graduate students to have the necessary actuarial knowledge and skills, while giving opinions from the view of business practice. A variety of actuarial topics are discussed in regular weekly seminars for graduates. In addition, we also invite domestic and overseas lecturers annually to give intensive courses.
Messages from the seminar students
・Through the seminars, I learned the practical aspect of mathematics, which will be extremely useful in the real world.
・The seminars are not for the preparation of actuarial exams. It is a study on the overall topics of insurance, and the mathematical fields in risks and interest, etc.
・There are various activities beside the seminars, which provide precious experiences such as the opportunity to communicate with people other than students.