Program Spotlight: Shawnee State’s Mathematical Sciences Bachelor’s Degree with Actuarial Concentration
One thing most people often don’t realize about insurance careers is the wide variety of opportunities that are available within the industry. Many people only hear about the select few careers such as claims adjuster, or agent, but, have you ever heard of the career of an actuary? Calling all math minds! Actuaries analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits. Actuaries use lots of analytical and math skills. If this sounds of interest to you, you may be surprised to know that Shawnee State, located in Portsmouth, Ohio, offers a Bachelor’s Degree program with an Actuarial Concentration.
About the Program
The Bachelor of Science in Mathematical Sciences with an Actuarial Science Concentration prepares students for a career as an actuary. For Shawnee State, this is a relatively new degree specialization that began during the 2017-2018 academic year. As with each math degree from SSU, this degree gives students a broad background in mathematics and mathematical knowledge that prepares them for jobs involving risk management. This concentration program prepares graduates to pass the first two actuarial exams. Shawnee State has recently become an educational member of the Insurance Industry Resource Council.
The department of mathematical sciences at Shawnee State University consists of ten faculty members and one administrative assistant. Nine of the faculty members have either a Ph.D. or Ed.D, whereas the other faculty member has a master’s in statistics. Among staff, four have won the Shawnee State Board of Trustees Distinguished Teaching Award. Math faculty members have obtained research and educational grants. Several of the faculty members are active in the Mathematical Association of America, with one having been the president of the Ohio section. The credentials of the faculty are a testament to the quality of education and experience they bring to their students.
The degree requirements include 34 semester credit hours of standard math major courses, 19 semester credit hours of mathematical interest theory, probability, and mathematical statistics course, a financial mathematics actuarial exam preparatory course and a probability actuarial exam preparatory course, as well as 6 hours in economic courses.
Student Success Stories
Prior to the actuarial sciences concentration of the mathematical sciences degree being developed, some of Shawnee’s math generalist majors actually went on to became actuaries at companies such as Encova (formerly Motorists) and Westfield.
Shawnee’s first actuarial concentration graduate, who graduated in spring of 2019, passed at least two actuarial exams and began working as an entry level actuarial analyst at Ohio National Financial Services in Cincinnati.
Currently the program has 8 students seeking an actuarial concentration degree. They have had students participate in each of the first three Ohio Insurance Collegiate Challenges. Some have attended Mathematical Association of America Ohio Section Conferences. They recently had two students participate in video interviews with the Insurance Industry Resource Council. Many are active in the Shawnee State University math club. At least one of student has been inducted in to Pi Mu Epsilon, which is a collegiate national math honor society. Many of the students work as math tutors at the university math lab.
Learn More About the Program
Interested in learning more? Check out the Shawnee State Mathematical Sciences Bachelor’s Degree with Actuarial Concentration program page where you can request information and apply for admission. A rewarding career as an actuary could be a great next step for you!