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Hindu College is launching actuarial science as an add-on course on 16th August. The first college to initiate this course in Delhi University, Hindu will run it in collaboration with an insurance firm. "The idea is to increase the students' employability in the insurance sector," said the college's acting principal, Pradyumn Kumar. The minimum qualifying age is 18 and the candidate needs to have scored at least 85% in maths in Class XII. But there's no upper age limit and graduates and post-graduates are welcome, too, provided they have 55% in maths or math-related subjects.
"The faculty will be from within the college and outside. The students will intern with Metlife," said Kumar. Actuarial science involves the use of mathematics and statistics to understand the financial impact of future events. Considering their chief function as risk assessors, actuaries are most often employed in the insurance sector. For life-insurance, for instance, actuaries will focus on analysis of mortality.
Actuarial models are generally used to price insurance products. "The course will prepare students for the exams conducted by the Institute of Actuaries of India. Exams are held twice a year and there are 12 compulsory papers, including maths, statistics and general insurance," said Kumar. Hindu is currently hoping for a class of about 25-30 students but if the response is good, the college may even add another section. Hindu has till now run add-on courses in languages.
Courtesy: Times of India
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