Math Majors: Actuarial Science

Monday, November 20, 2023

In a rapidly changing world, what does it take to predict the future?

While no one can know what the future holds, actuarial scientists can provide better predictions than most people.

This new installment of the Math Majors series highlights the undergraduate major in Actuarial Science – a mathematical field that employs quantitative methods to assess risk in the finance and insurance agencies.

The field of Actuarial Science is rapidly growing, with the United States Bureau of Labor Statistics predicting a 20% increase in these jobs by 2028. This next generation of actuarial scientists will face unique and pressing challenges, such as modeling the increased risk posed by climate change, explains lecturer Diana Skyrzydlo. “[But] that ability to quantify and manage risk is universally applicable for sure.”

 At Waterloo, students gain valuable experience during their co-op education, empowering them to see the application of a potentially abstract field in the workplace. Michael de Campos, who completed his degree in Actuarial Science and Statistics this year, discovered a personal passion for the work during a co-op term.

“The fact that I’m able to use numbers every day to help provide financial security for people – that is what I love,” de Campos says.

Watch the full video below to learn more about Actuarial Science.

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