Hybrid Program: MSc in Actuarial Science with Data Analytics (IAQS-RRU)
The MSc in Actuarial Science offered by the Rashtriya Raksha University (RRU) and managed by Institute of Actuarial Science and Quantitative Studies (IAQS) is a meticulously designed two-year hybrid program. This program blends the flexibility of online education with the rigour of offline academic standards to provide students with an unmatched learning experience.
Rashtriya Raksha University, an Institution of National Importance of India, Ministry of Home Affairs, is established by the Parliament of India, Act No. 31 of 2020 It specializes in national security, risk management, financial security, and actuarial science. Located on a 230-acre campus, RRU offers a multidisciplinary learning environment with access to research facilities and industry collaborations. RRU’s focus on economic resilience and financial risk management prepares professionals to tackle financial and economic challenges.
Rashtriya Raksha University, an Institution of National Importance of India, Ministry of Home Affairs, is established by the Parliament of India, Act No. 31 of 2020 It specializes in national security, risk management, financial security, and actuarial science. Located on a 230-acre campus, RRU offers a multidisciplinary learning environment with access to research facilities and industry collaborations. RRU’s focus on economic resilience and financial risk management prepares professionals to tackle financial and economic challenges.
Program USP
Students can attend live online sessions delivered by expert faculty, ensuring interactive learning from the comfort of their location.
What you can expect: These sessions are conducted in real-time by expert faculty. They’re designed to engage you actively through discussions, Q&A sessions, and problem-solving activities. This interactive format ensures that you can ask questions and get instant feedback, simulating the experience of a classroom environment.
Why it’s beneficial: Live classes offer the flexibility of attending from anywhere, while still maintaining a structured and engaging learning experience. This allows you to learn from home or work, without compromising the quality of your education.
All live sessions are recorded and made available to students for future reference, enabling them to learn at their own pace. All lectures are recorded and made available to students via a proprietary LMS system.
What you can expect: After each live session, the lectures are recorded and made available for later viewing. You can review complex topics, revisit key concepts, or study at your own pace.
Why it’s beneficial: This flexibility ensures that you can absorb content at a speed that suits your learning style. If you miss a live session or need to clarify doubts, you can always revisit the material.
To maintain academic integrity and rigour, all assessments and examinations are conducted offline, providing a fair and standardised evaluation process.
What you can expect: Exams are conducted offline, meaning you’ll attend campus to complete them. This ensures academic integrity and provides a controlled, standardised environment for assessments.
Why it’s beneficial: Offline exams simulate real-world exam conditions, which helps build a structured approach to problem-solving under time constraints. It also ensures that academic assessments remain secure and transparent.
Build meaningful connections through exclusive offline networking events. Collaborate with peers, industry leaders, and alumni to expand your professional network and gain insights into the actuarial and financial industries.
What you can expect: The program includes exclusive networking events held on campus. These events are designed to bring together students, faculty, industry experts, and alumni to foster connections.
Why it’s beneficial: Networking with professionals and peers in the actuarial field opens doors to potential career opportunities, collaborations, and mentorship. It’s a chance to get insights directly from industry leaders and stay updated on the latest trends in actuarial science.
Benefit from dedicated placement support that ensures a seamless transition from academia to the professional world. Our robust network of recruiters and personalized guidance paves the way for successful careers in top firms.
What you can expect: The program offers robust career services, including personalized career guidance, interview preparation, and access to a network of recruiters from top actuarial and insurance firms.
Why it’s beneficial: The strong placement assistance ensures that you are well-prepared to transition from academic life into a professional career. The program’s industry connections increase your chances of landing high-paying, competitive roles.
Apply your learning to real-world scenarios with industry-aligned capstone projects. These comprehensive assignments let you tackle practical challenges and showcase your expertise to potential employers.
What you can expect: As part of the program, you’ll work on real-world, industry-related projects, known as capstone projects. These assignments give you the opportunity to apply your theoretical knowledge to practical actuarial challenges.
Why it’s beneficial: Capstone projects are an excellent way to showcase your skills to potential employers and demonstrate your ability to solve complex actuarial problems. They also provide hands-on experience in the industry.
Gain unparalleled insights from experienced professionals and thought leaders in actuarial science and finance. Their mentorship bridges the gap between classroom learning and real-world applications.
What you can expect: Throughout the program, you will interact with experienced professionals who bring real-world insights into the classroom. These industry experts share their knowledge and guide students on how to navigate actuarial challenges in the field.
Why it’s beneficial: Learning from professionals ensures that you’re exposed to the most current industry practices and innovations. It also provides you with valuable mentorship and career advice.
Master the tools of the trade with hands-on training in advanced software used across the industry. Equip yourself with the technical skills essential for modern actuarial and quantitative roles.
What you can expect: You’ll receive hands-on training in advanced actuarial and statistical software, such as SAS, R, or MATLAB. This training prepares you to work with tools commonly used in the industry.
Why it’s beneficial: Being proficient in industry-standard software tools is essential for modern actuaries. This practical skill set will set you apart in a competitive job market and prepare you for the technical demands of the actuarial profession.
Students can access campus facilities, such as libraries and labs, as and when required, enriching their educational experience with hands-on learning opportunities.
Course Curriculum
- Major Course
Probability and Statistics
- Financial Mathematics
- Business Finance
- Insurance – Principles, Products and Practices
- Applications of IT-
Basics & Advance
Excel
Research Fraud Analytics and Prevention Research
- Major Course
Portfolio Theory & Security Analysis
- Financial Engineering
- Statistical & Risk Modelling -1
- Business Economics
- Generative AI and
Prompt Engineering
Internship / Field project R – Project
- Major Course
- Pricing & Reserving for Life Insurance Products – 1
- Statistical & Risk Modelling – 2
- Statistical & Risk Modelling – 3
- Application of IT – Python
- Model Documentation & Analysis
- Actuarial Practice – 1
Field Project
Internship/ Project
- Major Course
- Pricing & Reserving for Life Insurance Products – 2
- Statistical & Risk Modelling – 4
- Predictive analytics and machine learning
- Data Visualisation with Power BI
- Cyber Security
- Actuarial Practice – 2
Internship / Field project
Internship/ Project
To master the necessary skills, gain a comprehensive foundation and ensuring depth in the field of Banking, Financial Services and Insurance (BFSI) industry.
This one-of-a-kind degree aims at propelling into the profession by offering strong fundamentals in:
Actuarial Science
Insurance
Finance
Investments
Risk Modelling
Data Analytics
Asset – Liability Management
The course fees are:
For the 1st year – ₹. 317,335/-
For the 2nd year – ₹. 350,760/-
Fees includes tuition fee, library fee, exam fee, university charges, study material fee and industry training fee
For the 1st year – ₹. 317,335/-
For the 2nd year – ₹. 350,760/-
Fees includes tuition fee, library fee, exam fee, university charges, study material fee and industry training fee
Frequently Asked Questions
The program combines live online classes with recorded lectures, offline assessments, and in-person networking events. This hybrid approach provides students with the flexibility of remote learning while maintaining traditional academic rigor through offline examinations and hands-on learning opportunities.
The program typically takes 2 years to complete, providing an in-depth and comprehensive education in actuarial science.
The program is designed for students with a background in mathematics or related fields. A basic understanding of probability, statistics, and calculus will be beneficial.
Students will acquire expertise in core actuarial subjects, including CP1, CP2, and CP3, along with skills in financial mathematics, risk management, statistical modeling, and software tools essential for actuarial and quantitative roles.
Yes, students participate in industry-aligned capstone projects that allow them to apply theoretical knowledge to real-world scenarios.
Further, the course equips you with hands on training on softwares like Prohphet, Python, R, VBA and more.
This is coupled with networking opportunities with faculty and professionals from top actuarial and insurance companies.
Further, the course equips you with hands on training on softwares like Prohphet, Python, R, VBA and more.
This is coupled with networking opportunities with faculty and professionals from top actuarial and insurance companies.
Graduates can pursue roles in actuarial science, insurance, risk management, finance, investment analysis, and consulting. The program’s robust placement support increases the chances of securing rewarding positions with competitive salary packages.
Yes, the hybrid format allows for flexibility, enabling students to balance their studies with part-time work. However, managing your time effectively is important due to the intensity of the program.
Students attend live online sessions delivered by expert faculty and have access to recorded lectures for future reference. This allows for flexible learning at your own pace while still benefiting from interactive, live discussions.
While a background in mathematics or related fields is beneficial, the program is designed to support students from various backgrounds. If needed, preparatory courses can help fill in knowledge gaps.
Yes! The program offers offline networking events where you can connect with peers, faculty, alumni, and industry leaders. This is a great opportunity to expand your professional network and gain insights into the actuarial and financial industries.
The program provides 100% placement assistance, ensuring a smooth transition from academia to the professional world. With personalized guidance and access to a robust network of recruiters, students have a high chance of securing top-tier positions in leading actuarial firms.
The hybrid format offers the flexibility of remote learning, while offline assessments and networking events provide traditional, hands-on learning opportunities. This combination ensures that students are industry-ready and can balance their personal or professional commitments while pursuing advanced actuarial studies.
