Because the focus of actuarial science is risk analysis and insurance, this major is not called "actuarial science" in many universities, but called risk management and insurance, risk analysis, risk and insurance and so on.

Most American schools focus on one aspect of actuarial science. For example, the University of Wisconsin-Madison focuses on the application of actuarial science in the financial field, especially derivatives, while other schools focus more on the application of actuarial science in the medical insurance field.

The top five universities in risk management and insurance in the United States are

University of Pennsylvania,

Georgia State University (the largest actuarial major in the world),

University of Georgia,

University of Wisconsin-Madison,

UIUC .

There is no graduate ranking in this major because there are fewer universities offering graduate students. All the above universities offer doctoral programs, while other universities only offer doctoral programs, such as the University of Texas at Austin and Temple University.

What does an actuary do?

The future is uncertain. Some events are unpredictable. The so-called "risk" is the probability of unpredictable events. Therefore, actuaries are experts in solving the following problems:

1 to evaluate the probability of future events;

2. Develop new methods to reduce the probability of unpredictable events;

3. Reduce the impact of unpredictable events.

Actuaries are professionals who study new methods and control financial risks.

Employment prospect of actuarial specialty in the United States

The traditional way out is to go to the actuarial department of insurance companies, or reinsurance companies or non-life insurance companies. In addition, commercial banks, human resources consulting investment banks and other research departments are also popular choices.

Actuaries are professionals who control financial risks. So they mainly work in insurance companies. Recently, more and more actuaries are engaged in risk management in consulting companies, government departments, commercial banks and investment banks.