New Actuarial Mathematics major begins this fall

Research shows local employers have a growing need for bachelor-level actuaries. Mathematics Chairwoman Jennifer Zhao also has heard from students that there’s interest in enrollment. But even more than hearing it, she’s seen it.

Backed by both numbers and anecdotal evidence, UM-Dearborn will offer an Actuarial Studies Program starting in the fall.

“A number of UM-Dearborn students have pursued careers in actuarial science without the structure of a degree program, most often through the informal advice of a faculty member,” she says. “What this program does is identify courses at the University of Michigan-Dearborn whose content is aligned with the Society of Actuaries’ (SOA) — the global professional organization for this area — criteria and formalize a strategy for students.”

The interdisciplinary subject merges business, economics, mathematics and statistics. And the multi-faceted education will help students fulfill the SOA course requirements and prepare them for passing the seated exams needed for the professional actuary designation.