Actuarial sciences

Hindu College, Delhi University , is introducing an addon course in actuarial sciences from the current academic year. A certificate course, it is aimed at enhancing the employability of students in the insurance sector by equipping them with extra skills.

Actuarial sciences involve financial and risk management in the insurance sector, including areas like banking, investment , healthcare, etc. To practice as an actuarial scientist in India, one has to be a member of the Institute of Actuaries of India (IAI) and qualify for the various academic programmes.

"The idea behind introducing the programme is to enhance skills and increase employability of students in the insurance sector, which is an emerging industry in India. The industry is growing at present, with a lot of opportunities for aspiring students ," says Pradumn kumar, acting principal, Hindu College. The college has collaborated with MetLife Insurance India Ltd to offer the course, which will train students during the internship period. The course has 12 papers including financial economics, statistical methods, financial mathematics, business economics, business awareness models, etc.

"The course prepares students to qualify for the exams conducted by IAI. An actuary is a professional who is right behind the financial strength of an insurance company. The programme will open up a number of employment avenues for students. Also, the qualification for becoming actuaries is the same in India and abroad, which will be an added advantage as aspirants will have options to practice anywhere in the world," says Rajesh Relan, managing director, MetLife India.

However, with a total number of 30 seats in each batch, students can enroll in two batches — the first, which started August 16 onwards, the other, which is scheduled to start in January 2013 (last date for registration is December 31).

Eligibility
The course is open to students across universities. Eligible candidates should have cleared +2 with at least 85% in mathematics/statistics . Graduates and postgraduates must have a minimum aggregate of 55% in mathematics or statistics, mathematical statistics, econometrics , computer sciences, etc.

Course Duration
There is no fixed duration for completion of the course. Students have to clear all the papers before being awarded the certificate. At the end of each semester, the college will conduct its own exam.