Center of Actuarial Excellence Actuarial Science at Illinois State University
You can watch a video about being an actuarial science major at Illinois State University at: http://smartURL.it/ActuarialMajorVideo
Ours is one of only thirty programs (seventeen of which are in the United States) that are recognized as Centers of Actuarial Excellence by the Society of Actuaries. Each university so recognized met specific requirements related to degree, curriculum, graduate count, faculty composition, graduate quality, appropriate integration, connection to industry, and research/scholarship. We were the first Center of Actuarial Excellence in the state of Illinois. In 2016, our university was among the first four ever to receive the Casualty Actuarial Society University Award.
Our Actuarial Program Advisory Board is composed of outstanding practicing actuaries who advise us on the effectiveness and comprehensiveness of our program.
We have an excellent job placement record. Completion of our actuarial program has lead to actuarial employment with an insurance company or a consulting firm for an overwhelming majority of our students. Our students have been placed with the following companies: Ace Group, Acuity, Advocate Health, Aegon, Aetna, Aflac, AIG, Affirmative Insurance, Alliance Pension Consultants, Allianz, Allied World, Allstate, American Association of Insurance Services, American Family Insurance, American Fidelity, American National Insurance Company, Aon, Arch Insurance, Archer Daniels Midland, Arizona Health Care Cost Containment System, Assurant, Auto-Owners Insurance, Best Buy Warranties, Blue Cross Blue Shield of Illinois, Blue Shield of California, BNY Mellon, Bocom International Holdings Ltd., BPS&M, Caitlin Inc., Cambia Health Solutions, Caterpillar, CC Industries, Inc., China International Fund Management Co., Ltd., Chubb, Cincinnati Financial, CNA, CNO Financial, COUNTRY Financial, Coutts, CUNA Mutual, Dean Health Plan, Dearborn National, Deloitte, DFCC Bank, The Economical Insurance Group, Emergent Biosolutions, Epic Systems Healthcare Software, ERGO Versicherungsgruppe AG, Erie Insurance, EY, esurance, Excellus Bluecross Blueshield, Farmers Insurance, Federal Home Loan Bank Of Chicago, Fireman's Fund, Fubon Financial, Gabriel, Roeder, Smith & Co. GEICO, GenRe, Genworth, GrantThornton, Guggenheim Life Insurance, Hallesche Krankenversicherung, Hannover Reinsurance, The Hartford, Health Care Service Corporation, Highmark, The Horace Mann Companies, Humana, Illinois Department of Insurance, Illinois Mutual, ISO-Verisk, Insurance Technologies, JP Morgan Chase & Co.,Liberty Mutual, Lincoln Financial, Lumbermen's Underwriting Alliance, MagMutual Insurance Company, Manulife, Maryland Insurance Administration, Mercer, Metlife, Midwest Pension Actuaries, Milliman, Minnesota Department Of Insurance, Munich Re, Nationwide, Navigators, New York Life, October Three LLC, Ohio National, Oliver Wyman, On Point Technology, Inc., Pacific Life, Paradigm Brokerage, Pekin Insurance, Pinnacle Actuarial Resources, PricewaterhouseCoopers, Primary Asia Holding, Ltd., Prudential, QBE Insurance, Reinsurance Group of America, RHB Banking Group, RLI Insurance, SCAN Health Plan, SCOR, State Auto Insurance, State Compensation Insurance Fund, State Farm, SUA Insurance. Swiss Re. Symetra Financial, Synchrony Financial, Taikang Life Insurance, Taiping Life Insurance, Telavance, Thai Reinsurance, Thrivent Financial For Lutherans, Transamerica, Travelers. Trustmark, Truven Health Analytics, United Health Group, Valence Health, Valuation Research Corporation, Voya, VPV Versicherungen, USAA, The Warranty Group, WellCare Health Plans, Wellpoint, Willis Towers Watson, Wuerttembergische Lebensversicherung, Zurich.
We offer undergraduate classes covering material on the first four actuarial examinations, as well as all Validation by Educational Experience (VEE) requirements, and graduate level classes covering the mathematical contents of more advanced examinations of the Society of Actuaries, and the Casualty Actuarial Society. In addition to actuarial courses, a variety of statistics classes in the Department of Mathematics, and insurance classes in the College of Business are offered. Our program also administers intensive review seminars for actuarial examinations at no charge to Illinois State University students.
We encourage our students to pursue excellent opportunities for internships available locally with State Farm, one of the largest insurance firms in the world, and other companies in town: COUNTRY Financial, Willis Towers Watson, Pinnacle Actuarial Resources, Inc., as well as many other employers.
We offer numerous scholarships in actuarial science: Actuarial Scholars (State Farm Scholars, Country Scholars, Zurich Scholars, Pinnacle Scholars, American Family Insurance, and Katie School Scholars), Lee Ann Murray "Everything Counts" Scholarship, D.W. Simpson Scholarship, Orlyn Edge Scholarship. Many additional scholarships are available from the Katie School of Insurance and Financial Services. Our students are also very successful in securing external scholarships, mostly from the insurance industry and foundations supporting actuarial science and insurance education.
Our faculty are engaged in cutting edge research, funded by various external agencies, and published in books and top-level journals. Current topics of study include models for risk-based capital, longevity improvement and its effect on retirement systems, statistical methods used in health insurance, actuarial and economic aspects of life insurance backdating, optimal structure of insurance and reinsurance contracts, and asset-liability management methodologies.
Illinois State University gives students a small college experience with large university opportunities. We offer small class sizes, access to professors, low cost of living, and very reasonable tuition. Our actuarial students are encouraged to join the Honors Program, and the Actuarial Club within Gamma Iota Sigma. In addition to the Actuarial Program, we also host programs in mathematics, statistics, and biomathematics (joint with the Department of Biology) within the Department of Mathematics, and have a thriving program of education in insurance at the College of Business. We cooperate closely with the Katie School of Insurance and Financial Services.
The industry is actively recruiting minorities for actuarial careers. We support this effort by offering scholarships to minority students. We also host the Midwest High School Scholars Actuarial Academy, a unique summer program for minority high school students, which is supported by the insurance industry and actuarial societies.
Illinois State University's tuition rates are very reasonable, and we consistently place in the list of colleges where students graduate with the least amount of debt. Furthermore, students from other states can generally petition to become state of Illinois residents for tuition purposes, if they meet certain conditions.