Trends in Actuarial Education

National developments and liberal arts colleges

Actuarial Career

  • The Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) are the two main professional organizations for credentialing actuaries in North America.

  • Pass first two preliminary exams (usually Probability [P] and Financial Mathematics [FM])

  • Choose between the SOA for life/health paths or the CAS for property/casualty paths.

    • Next Steps for SOA (Life, Health, Pensions)
      • Exam FAM: Fundamentals of Actuarial Mathematics covers short-term and long-term models.
      • Exam SRM: Statistics for Risk Modeling introduces data science and regression analysis.
      • Exam PA: Predictive Analytics tests applied data analysis.
      • Advanced Exams: Choose between ALTAM (long-term) or ASTAM (short-term).
    • Next Steps for CAS (Property and Casualty)
      • Exam MAS-I & MAS-II: Modern Actuarial Statistics builds on probability and statistics.
      • Exam 5: Basic Techniques for Ratemaking and Estimating Claim Liabilities.
      • Upper-Level Exams: Exams 6 through 9 cover advanced regulations, reserving, and portfolio management.

National trend: closer alignment with professional credentials

Across U.S. colleges and universities, actuarial programs are increasingly making their connection to the professional credentialing system explicit.

  • The SOA’s UCAP system recognizes programs that cover specified preliminary exams and VEE topics
  • The CAS now has its own University Recognition Program with Bronze, Silver, and Gold levels
  • Recognition is tied not only to courses, but also to student/faculty engagement, case studies, industry connections, and—in stronger programs—property & casualty preparation

National trend: more learning happens inside the university

A second trend is a shift from “take courses, then take professional exams separately” toward greater integration of coursework, credentials, and modern actuarial skills.

  • The SOA’s University-Earned Credit (UEC) program lets students at approved universities earn credit for selected SOA exams through sufficiently strong university coursework
  • UEC began with 13 universities in 2022 and had grown to 25 CAE universities worldwide by February 2026
  • The SOA has explicitly increased emphasis on data analytics and professional/“soft” skills in its actuarial curriculum
  • CAS university initiatives emphasize case studies, predictive analytics, P&C applications, networking, and employer-facing preparation

Liberal Arts Colleges

Many programs now organize actuarial preparation around professional milestones:

  • SOA Exam P: Probability
  • SOA Exam FM: Financial Mathematics
  • VEE coursework: Economics, Accounting/Finance, Mathematical Statistics
  • SOA UCAP recognition when programs cover enough exams and VEE topics
  • CAS recognition for property-and-casualty preparation

What SOA recognition signals

The Society of Actuaries lists colleges in UCAP tiers:

  • UCAP-IC: course coverage for at least 2 preliminary exams + at least 1 VEE topic
  • UCAP-AC: course coverage for at least 4 preliminary exams, including an advanced actuarial math exam + all VEE topics
  • CAE: highest level; includes requirements on curriculum, graduates, faculty, industry connection, and scholarship

UCAP is not necessary for a student to become an actuary, but it creates an external benchmark and makes the pathway easier to explain to students.

DePauw University

DePauw has moved toward a full actuarial science and risk management identity.

  • Offers an undergraduate B.A. major in Actuarial Science and Risk Management
  • Integrates mathematics, statistics, finance, business, and computer science
  • Lists active student organizations and industry/career support
  • SOA lists DePauw as UCAP-AC
  • DePauw reports CAS Silver recognition and recent success in risk-management competitions

Albion College

Albion uses a dual-pathway model.

  • Four-year actuarial science program inside mathematics/economics preparation
  • Five-year dual-degree option: liberal arts foundation at Albion, then transfer to a larger actuarial science program
  • Emphasizes Excel, Python, R, Java, Mathematica
  • Advises students toward SOA exams P and FM
  • Reimburses current students who pass an actuarial exam

Summary

Institution Program Offered Brief description
Albion College Four-year actuarial program + dual-degree option Specialized mathematics degree with economics, statistics, computer science, SOA P/FM preparation, and exam reimbursement; also offers a five-year transfer/dual-degree route with a larger actuarial program.
DePauw University Full B.A. major in Actuarial Science and Risk Management Interdisciplinary major combining business, mathematics, statistics, finance, and computer science; public profile emphasizes industry connections, career development, student organizations, SOA UCAP-AC recognition, and CAS Silver recognition.
Kalamazoo College Mathematics pathway rather than a named actuarial major Applied quantitative preparation through mathematics, statistics, data science, research/Senior Integrated Project, and alumni careers including actuary
Oberlin College Mathematics/statistical modeling pathway Mathematics, probability, quantitative careers, and a Statistical Modeling minor; probability course description mentions applications including actuarial science.

Hope College (Pre-Actuary Program)

  • Department lists recommended mathematics, statistics, economics, and management courses for actuarial students
  • Offers actuarial exam preparation courses (Probabilty with possiblity of preparation for exam P and other exam prparations as independent studies)
  • Notes internship opportunities
  • All SOA-certified VEE courses are available
  • Recommends students pass at least one certification exam before graduation

Trend: actuarial preparation is becoming more interdisciplinary

Across these programs, actuarial preparation is rarely “just mathematics.” It usually combines:

  • Probability and mathematical statistics
  • Financial mathematics and interest theory
  • Economics and accounting/finance for VEE credit
  • Programming and data analytics
  • Communication, case studies, and professional development
  • Internships and employer/alumni connections

Trend: analytics, AI, and modern risk modeling

Some actuarial programs are now emphasizing data science and AI more explicitly.

  • Predictive analytics is increasingly treated as part of actuarial work
  • Programming and statistical modeling are becoming core preparation, not extras
  • Some programs market actuarial preparation as a route into risk analysis, finance, data analytics, and consulting—not only traditional insurance