How to pursue actuarial science with b com hons please guide full procedure in details and total course fees...with the total time taken?

Dear candidate,

You can definitely pursue actuarial science with Bcom(Hons) as there is no specific requirement of any side courses with actuarial science. Although graduation in mathematics or statistics will help you with actuarial science anyday.

You can make your career as an Actuary, if you meet the given eligibility criteria:

• Candidate must be 18 years old.

• Candidate should have completed their 10+2 level examination.

• Candidates who qualify their Graduation/Post graduation with Mathematical subjects.

• Those candidates have any other professional degree (Engineering/CA/CS/MCA/MBA) they can also make their career in this field.

• Candidate should be a qualified member of these professional bodies: Fellow of Insurance Institute of India (III), Certified institute of Financial Analysts of India (IFAI), The Institute of Chartered Accountants of India (ICAI) & The institute of Cost and Works Accountants of India (ICWAI) & pass with the subjects: Mathematical Basis of Insurance and Statistics.

• After completing your graduation and post graduation, you can join any of the given professional bodies of India as a student member and became a fellow in IAI.

The Actuarial Society of India or Institute of Actuaries of India is the only professional body of Actuaries in India that was formed in 1944. The Actuary is a fellow member of the Institute of Actuaries of India (IAI). IAI is the professional examining body that organizes certificate, fellowship level & Associateship level examinations.

For admission in IAI you have to appear for the given entrance exam: Actuarial Common Entrance Test (ACET 2019).

To become an actuary, Candidate has to qualify the actuarial science exam that is conducted by the IAI and have 3 years of practical work experience.

After qualifying these examinations, candidate becomes eligible to be admitted as an Associate Member of the society. They can use AASI against their name as a registered actuary.

Career Opportunity in Actuarial Science is globally recognized.

Traditionally, Actuaries can only employ in life-insurance Companies. But now, the job opportunity increases & they can work in non-life insurance companies, investment consultancies, financial services, banking and stock exchanges.

They can also work in government and private companies. Many of the largest insurance firms employed actuaries as CEOs (Chief Executive Officers). A person who studies the course can now be a part of the banking and business field. Actuaries can also employ in BPOs, risk management, academics, pension funds and management consultancy firms.

An Actuary can determine insurance premium rates, designs insurance and pension plans, risk management, designing social security schemes, carrying out peer reviews & compiles data related to rates of injury, sickness, retirement, mortality and property loss.

The demand of Actuaries in abroad is huge in both the developed as well as emerging markets.

Skills required to become an Actuary:

• Depth knowledge of statistics and Mathematics
• Natural problem-solving
• Good communication skills
• A good sense of business
• Possess good modeling skills

Top Recruiters:

• Max Bupa Health Insurance
• IDBI
• McKinsey Advanced Healthcare Analytics
• Towers Watson
• Mercer
• Directorate of Postal Life Insurance
• E&Y
• WNS
• PwC Actuarial Services India
• Milliman
• Swiss Re
• Future Generali

Hope the answer is helpful .

Good luck!