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Master of Science in Actuarial Management with Data Science

Heriot-Watt University - Edinburgh Campus

UK,Scotland

0 Shortlist

12 Months

Duration

CAD 24,176/year

Tuition Fee

CAD 0 FREE

Application Fee

Apply Date

UK, Scotland

Type: University

Location Type: Urban

Founded: 1966

Total Students: 31,000 +

Int. Students: 6,200 +

Campus Detail

Main Campus Address

Campus The Avenue, Edinburgh EH14 4AS

Overview
Key Facts
Fees & Funding
Admission Requirements
Additional Info
Scholarships
Student Visa
Work Permit

Master of Science in Actuarial Management with Data Science

Program Overview

Data science today is becoming increasingly important within the actuarial field, and Heriot-Watt has developed this unique new programme to meet this growing actuarial demand.

Taking our MSc in Actuarial Management with Data Science is a great way to speed your progress to this most prestigious of careers - it's designed to take you almost all of the way to qualification. Our MSc in Actuarial Management is an established and successful programme covering the more advanced actuarial subjects.The MSc in Actuarial Management with Data Science introduces exciting new opportunities for actuaries of the future.

Entry to the actuarial profession is by a demanding series of examinations, but the rewards after qualifying are great. The Institute and Faculty of Actuaries in the UK has four levels of examinations to qualify. The first level, the Core Principles (CS, CM and CB) subjects, are taught in our BSc or MSc in Actuarial Science and lead to exemptions from subjects CS1, CS2, CM1, CM2, CB1 and CB2. Students will typically study CP1, CP2, CP3, two SP subjects (two SP subjects are needed to satisfy the profession's requirements) and two courses on data science applied to insurance.

Actuarial data science combines advanced statistical modelling and analysis with modern computational techniques in order to analyse potentially large datasets arising in insurance and finance. These analyses have the ability to improve forecasts and enhance decision making in an uncertain environment where rapid advancements in technology and data availability are transforming fields of actuarial work. Additionally, they are building synergies with new sectors such as medical and healthcare. This is an area of science and technology that is attracting significant interest and that will continue to grow for the foreseeable future, as more and more industries adopt data-driven and data-centric approaches.

Students graduating from the MSc will have excellent employment prospects that are not restricted to any one narrow sector of financial services. By their choice of IFoA subjects, they may target the life, pensions, asset management, investment and risk management sectors. They will be in demand in quantitative risk management roles in both banks and insurance companies, as well as fund management companies, hedge funds, consultancies, software vendors and regulatory authorities. The market for graduates with actuarial qualifications complemented with data science skills is growing fast and we expect that it will continue to grow for the foreseeable future.

Detailed Program Facts

Program Level

Master's Degree

Application Processing Days

7 Days

Program Intensity

Full-Time

Duration of Program

12 Months

Program Intakes

Intake Month/Year		Intake Status
jan 2024		Not Available
sep 2024		Closed

Application Fee

Application Fee: CAD 0 FREE

Tuition Fee

CAD 24,176 per year

*Note: The fee is approximate and is subject to change

Living Cost in Heriot-Watt University - Edinburgh Campus

CAD 9,207 per year

*Note: The fee is approximate and is subject to change

The living costs include the total expenses per month, covering accommodation, public transportation, utilities (electricity, internet), books and groceries.

Funding

Check program website for more information about funding options.

English Test Requirements

IELTS
- Minimum Overall Score - 6.5 - 6 - With No Band Less Than
TOEFL
- Minimum Overall Score - 85.0 Minimum Listening - 19.0 Minimum Reading - 20.0 Minimum Writing - 21.0 Minimum Speaking - 20.0
PTE
- Minimum Overall Score - 68.0

Minimum Level of Education Required: To be accepted into this program, applicants must have a Bachelor’s Degree.

Minimum CGPA Required: 60.00 %

Additional Information

Center of Actuarial Excellence:

Heriot-Watt University is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. We are the only Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation. With roots dating back to 1889, the Society of Actuaries (SOA) is the world's largest actuarial professional organization with more than 28,000 actuaries as members.

Student Actuarial Society:

Heriot-Watt has a very active Students' Actuarial Society which won several awards at a recent Heriot-Watt 'Oscars' ceremony. This body is completely managed, enthusiastically and professionally, by our students.

Scholarships

We are pleased to offer a limited number of scholarships for the January 2025 intake, available on a first-come, first-served basis:

£2,000 scholarships
£4,000 scholarships
£6,000 scholarships

Scholarship for Jan 2025

PG Scholarships ranging From £2000 to £6000
*Varies by Course* Limited seats, First come, First Served.
Block Your seat & Scholarships by Paying £1000 Deposit by 30^thSept.
CAS Deposit £4000.

upto 20% of TF

Work Permit

PGWP

There are various options through which a student can get a post study work visa in the UK.
Tier 1 Graduate Entrepreneur Visa for the graduates with a genuine and credible business idea.
Tier 2 (General) is the leading immigration visa to work in the UK.
Tier 4 Doctorate Extension Scheme is for students who have completed their Ph.D. and is valid for 12 months for them to work, look for work or set up a business.
Tier 5 Youth Mobility is for individuals of certain countries like Australia, Canada, Japan, Monaco, Hong Kong, South Korea, Taiwan, and New Zealand aged between 18 -30 who wish to move to the UK.
Tier 5 GAE is for individuals who want to come to the UK for work experience, training, research or a fellowship.
UK Ancestry is for individuals who are a citizen of a commonwealth and plan to work in the UK and have a grandparent who was born in the UK.