Actuarial Science Major
Acquire the computational tools and business mindset to help enterprises analyze and manage risk, so they can successfully navigate a complex world.
Zimpleman College of Business | On-Campus
Program Options
Enter the exciting and challenging world of insurance and risk management through paths ranging from the Actuarial Science major to strategically focused minors.
B.S.B.A. in Actuarial Science
Ignite your career at one of the nation’s top programs. Your studies will balance a practically focused business core with expert instruction in actuarial science to position you for success in finance, insurance, risk management, or another field that values an analytical mindset.
Actuarial Science Minor
Obtain core actuarial science knowledge and analytical skills alongside any other Drake major. You’ll lay the groundwork for entry-level positions in the field and develop modeling, statistical, and risk management skills valued across industries.
Risk Management and Insurance Minor
Learn to identify, measure, and manage risk for individuals and businesses. Course content prepares you for three Chartered Property Casualty Underwriter (CPCU) exams.
Meet the Faculty
From decades in the insurance industry to research exploring topics like risk modeling and industry regulation, Department faculty draw on broad expertise to give you theory seasoned by real-world experience.
Kevin Croft, MBA, ASA, CFA
Distinguished EMC Associate Professor of Practice in Actuarial Science and Risk Management; Director of the Kelley Center for Insurance Innovation
Outside the Classroom
Explore ways to enhance your learning and your opportunities, from securing internships within Des Moines’ thriving insurance sector to moving the industry forward in the Insurance Innovation Lab.
Internships
With dozens of insurance companies in the area and an annual actuarial science career fair on campus, you’ll have access to extensive internship opportunities. Additionally, through the Kelley Center for Insurance Innovation’s Global Insurance Accelerator program, student interns develop industry-supporting solutions alongside insurtech startup founders.
Student Clubs
Accelerate your career growth and build your network in Gamma Iota Sigma, a professional risk management, insurance, and actuarial science fraternity, or one of a dozen other business-related student organizations looking for someone like you.
Insurance Innovation Lab
Help create the future of the industry. Get hired as a student intern and research the latest innovations in the sector. Or create a presentation and share your work with insurance company executives.
Disruption Days
Demonstrate your acumen through a case study competition and win cash prizes at this annual campus event that brings the community together to promote and celebrate insurance careers.
Drake Risk and Opportunity Forum
Join actuarial professionals on campus to hear from leading industry figures on topics related to opportunity and risk. You’ll learn, network, and have the chance to explore your career options.
Scholarships
100% of full-time Drake undergraduate students receive scholarship support. You may be eligible for both merit-based and need-based aid, including nine Drake scholarships specific to actuarial science students.
Careers & Skills
At Drake, you’ll find a program recognized as a Center of Actuarial Excellence and a Global Center of Insurance Excellence in a city that’s a main hub for the insurance industry. This environment results in top-tier training plus exceptional professional opportunities for launching a career known for both high compensation and job satisfaction. According to the Bureau of Labor Statistics, jobs for actuaries have a median pay of $120,000 a year and are forecast to surge 22% over the present decade.
Employers
- Allianz Life
- Cigna
- Liberty Mutual
- Mutual of Omaha
- Nationwide Insurance
- State Farm Insurance Companies
Skills
- Proficiency with R and SAS statistics software
- Statistical modeling and analysis
- Actuarial modeling
- Advanced math
- Risk management
- Professional communication
Salary & Growth Outlook
The average salary for actuaries as of 2023. (U.S. Bureau of Labor Statistics)
Take the Next Step
Because risk can lead to declining profits and reputation, prepare to effectively forecast and respond in Drake’s widely respected actuarial science program.
