Actuarial Science with Business Analytics MSc
| Program start date | Application deadline |
| 2024-10-04 | - |
| 2024-09-09 | - |
Program Overview
The Actuarial Science with Business Analytics MSc program at Bayes Business School combines traditional actuarial science with business analytics, preparing students for careers in insurance, pensions, and financial services. The program offers a comprehensive curriculum covering actuarial subjects, data analysis, machine learning, and data management systems. Graduates are well-equipped for roles in actuarial and risk analysis, consultancy, underwriting, banking, insurance, and financial services.
Program Outline
Degree Overview:
Overview:
The Actuarial Science with Business Analytics MSc program at Bayes Business School combines traditional actuarial science with the cutting-edge field of business analytics. This program prepares students for careers in the insurance, pensions, and financial services sectors, where the demand for skilled actuaries with data analysis expertise is rapidly increasing.
Objectives:
- Equip students with the tools and skills to apply analytical methods in a business environment.
- Develop a deep understanding of machine learning techniques and their use in data analysis and predictive modeling.
- Cultivate critical awareness of current analytical methods for effective information transformation into actionable knowledge.
- Prepare students for exemptions from relevant subjects of the Institute and Faculty of Actuaries (IFoA) and the Society of Actuaries (SOA) professional examinations.
Outline:
Course content:
The program curriculum covers both traditional actuarial subjects and cutting-edge business analytics topics. Students will gain a comprehensive understanding of actuarial science, including insurance, economics, finance, investments, financial reporting, and business. Additionally, they will gain expertise in data analysis, machine learning, and data management systems.
Structure:
The program is offered on a full-time basis over 12 months, starting in September. It consists of three terms, with the third term offering multiple options for students to choose from based on their career aspirations.
Terms:
- Term 1: Focuses on core concepts in actuarial science and introduces data analysis methods.
- Term 2: Delves deeper into actuarial subjects and provides an overview of machine learning techniques.
- Term 3: Offers various options for students, including applied research projects, elective modules in specialized areas like natural language processing and data management systems, and international electives focused on specific topics or regions.
Modules:
Term 1:
- Analytics Methods for Business
- Financial Mathematics (CM1(1))
- Research Methods for Actuarial Professionals
- Probability and Mathematical Statistics (CS1) (Elective)
- Finance and Financial Reporting (CB1) (Elective)
- Business Economics (CB2) (Elective)
Term 2:
- Machine Learning
- Contingencies (CM1(2))
- Financial Economics (CM2) (Elective)
- Insurance Risk Modelling (CS2) (Elective)
Term 3 Options:
- Modelling Practice (CP2) and Professional Communication (CP3) with three short electives, including at least two from Applied Machine Learning, Applied Natural Language Processing, and Data Management Systems.
- Applied Research Project with three short electives, including at least two from Applied Machine Learning, Applied Natural Language Processing, and Data Management Systems.
- Five short electives, including at least two from Applied Machine Learning, Applied Natural Language Processing, and Data Management Systems.
Short electives offered in 2023:
- Applied Machine Learning
- Applied Natural Language Processing
- Data Management Systems
- Emerging Global Risks
- Topics in Quantitative Risk Management
- Stochastic Claims Reserving in General Insurance
- Modelling and Data Analysis
- Ethics, Society and the Finance Sector
- Financial Crime
- Valuation of Financial Institutions
International electives:
- FinTech (taught in Italy)
- International Real Estate Markets (Dubai)
Teaching:
The program is taught by a team of experienced faculty members, including qualified actuaries, academics, and industry professionals. The teaching approach is highly interactive and combines lectures, tutorials, case studies, and group projects. Students also have access to online resources and individual support from tutors.
Assessment:
The program utilizes a variety of assessment methods, including:
- Coursework assignments
- Examinations
- Group projects
- Presentations
- Computer-based components
Careers:
Graduates of the program are well-prepared for careers in the following areas:
- Actuarial and risk analysis
- Consultancy
- Underwriting
- Banking
- Insurance
- Financial services The program equips students with the skills and knowledge employers are actively seeking in the actuarial industry, making them highly competitive for various roles.
Other:
- The program is accredited by the IFoA and recognized as a Center of Actuarial Excellence (CAE) by the SOA.
- The program was established in 2020 and offers a unique opportunity to gain expertise in both traditional and cutting-edge actuarial fields.
Tuition Fees and Payment Information:
UK/Home fee September 2024 entry £15,000 MSc Full-time Tuition fees are subject to annual change. International fee September 2024 entry £24,700 MSc Full-time Tuition fees are subject to annual change. Deposit: £2,000 (usually paid within 1 month of receiving offer and non-refundable unless conditions of offer are not met).First installment: Half fees less deposit (payable during on-line registration which should be completed at least 5 days before the start of the induction period).Second installment: Half fees (paid in January following start of course).City's Fee status assessment policy.
City University of London
Overview:
City, University of London is a public research university located in London, England. It is known for its focus on business, practice, and the professions, offering a wide range of undergraduate and postgraduate programs. The university is renowned for its strong academic reputation and its commitment to providing students with a high-quality learning experience.
Services Offered:
City University of London provides a comprehensive range of services to its students, including:
Library Services:
Access to extensive library resources, including books, journals, databases, and online resources.Moodle:
An online learning platform for accessing course materials, submitting assignments, and communicating with instructors.Email:
A university-provided email account for official communication.Staff Directory:
A searchable directory of staff members and their contact information.Term Dates:
Information on the academic year and term dates.Room Booking:
A system for booking rooms on campus for meetings, events, and other purposes.Schools and Departments:
Information on the various schools and departments within the university.Student Life and Campus Experience:
City University of London offers a vibrant and diverse student experience, with a strong emphasis on:
London Experience:
The university's location in London provides students with access to a wide range of cultural, social, and professional opportunities.Sports:
A variety of sports clubs and facilities are available for students to participate in, both competitively and non-competitively.Social Activities and Groups:
Numerous student societies and groups cater to diverse interests, providing opportunities for social interaction and personal development.Student Wellbeing:
The university offers a range of support services to ensure students' health and wellbeing, including learning support, personal tutoring, and counseling.Career Development:
The university provides career guidance and support services to help students prepare for their future careers.Key Reasons to Study There:
Strong Academic Reputation:
City University of London is consistently ranked highly in national and international rankings.Focus on Business, Practice, and the Professions:
The university's programs are designed to provide students with the skills and knowledge they need to succeed in their chosen careers.Location in London:
The university's location in the heart of London provides students with access to a wealth of opportunities.Vibrant Student Life:
City University of London offers a diverse and engaging student experience.Excellent Career Support:
The university provides comprehensive career guidance and support services.Academic Programs:
City University of London offers a wide range of academic programs across various disciplines, including:
Business and Management:
Bayes Business School is renowned for its programs in finance, accounting, marketing, and entrepreneurship.Law:
The City Law School is a leading institution for legal education, offering programs in law, international law, and legal practice.Health and Psychological Sciences:
The School of Health & Psychological Sciences offers programs in nursing, midwifery, psychology, and other health-related fields.Science and Technology:
The School of Science & Technology offers programs in computer science, engineering, mathematics, and other STEM fields.Communication and Creativity:
The School of Communication & Creativity offers programs in journalism, media, performing arts, and language studies.Other:
Merger with St George's:
City University of London has merged with St George's, University of London, forming a new institution called City St George's, University of London.Awards and Accreditations:
The university has received numerous awards and accreditations for its teaching, research, and commitment to equality and diversity.Global City:
City University of London is a global institution with a strong international presence.University of London:
City University of London is a member of the University of London, a federation of 18 independent colleges and institutes.Entry Requirements:
- A UK upper second class degree or above, or the equivalent from an overseas institution, in a highly quantitative programme such as mathematics or statistics.
- Work experience is not a requirement of this course.
Language Proficiency Requirements:
- If you have been studying in the UK for the last three years, you will not be required to take an English language test.
- If you have studied in the UK at degree level for less than three years (e.g. 3+1, 2+1, 2+2, etc. ), you will be required to provide the results of an approved English language test and possibly resit the test to meet the academic entry requirements.
