MSc Actuarial Management with Data Science

at Heriot-Watt University

The MSc Actuarial Management with Data Science program at Heriot-Watt University focuses on key actuarial subjects and data science. In the first and second semesters, students complete eight courses, including Actuarial Risk Management and Machine Learning for Risk and Insurance. Optional courses cover areas like life insurance, pensions, and financial markets. In semester 3, students engage in practical case studies or projects related to actuarial and business contexts, aligning with exemptions from CP2 and CP3 subjects.

Important Dates

For prospective students eyeing admission in 2024, mark your calendars! The application deadline for the upcoming academic year is August 2nd, 2024. Ensure your application materials are submitted by this date to be considered for admission. Don't miss this opportunity to embark on your academic journey and pursue your educational goals. Prepare your documents and apply on time to secure your spot for the upcoming intake.

Modules:

• Life Insurance 1 
• Pensions A 
• Financial Markets 
• Derivative Markets and Pricing 
• Quantitative Risk Analysis 

• Entry needs an excellent Bachelor's or Masters degree, as well as the ability to study and apply a wide range of early actuarial mathematical material. In general, students must have completed a significant portion of the material for early Institute and Faculty of Actuaries subjects: CM1, CM2, CS1, CS2, CB1, and CB2.
• The degree is both rigorous and rewarding. Working hard will result in a suite of exemptions and the ability to perform effectively in interviews, allowing you to acquire your first business position. 
• If you have not completed most or all of the early actuarial Institute and Faculty of Actuaries disciplines, our MSc in Actuarial Science (1 year) or MSc in Actuarial Science and Management (2 year) degrees may be more appropriate for you.
• Students whose native language is not English must demonstrate proficiency through accepted examinations such as IELTS 6.5 or TOEFL 79 or above. 

The MSc Actuarial Management with Data Science at Heriot-Watt University offers a competitive annual fee of £27,200 for international students. Detailed fee structures and financing options are available to help students make informed decisions about their career. Additionally, students should consider other expenses such as accommodation, living costs, textbooks, and transportation when planning their budget for the program.

Graduates of the MSc Actuarial Management with Data Science program at Heriot-Watt University can expect promising career prospects. Equipped with a blend of actuarial expertise and data science skills, they are well-positioned for roles in insurance, risk management, finance, and analytics. Opportunities span various industries, offering avenues for impactful contributions in areas such as predictive modelling, risk assessment, and financial analysis. The program's accreditation with professional bodies enhances employability, while its focus on emerging technologies ensures graduates are prepared for the evolving landscape of actuarial science and data analytics.