Program Academic Head: Prof. Udi Makov
The Actuarial science deals with the special problems of the insurance industry, banks, investment companies and pension funds, and uses probabilistic, statistical and economic tools to solve them. Actuaries deal with the assessment of the risks that insurance companies consider when offering their plans, the calculations of the premiums that customers must pay in order to purchase these plans, the determination of the payments and rewards of pension fund members and the evaluation of investments under conditions of uncertainty.
General Information
The Actuarial science: a science that deals with assessing future financial risks and tools to deal with them.
Program's goal: to qualify graduates in risk management and solving problems specific to the insurance industry, pension funds, banks and investment companies.
The need for Actuaries: Since the global crisis in 2008 that resulted from failures in risk management, there is a growing demand for professionals in this field. In recent years, the demand for graduates of actuarial studies exceeds the number of those completing these studies.
Actuarial studies in Haifa: The University of Haifa suggests the only program in Israel that qualifies actuaries and grants them an academic degree, as well as rich and diverse training that makes them stand out as professionals. Graduates of the program will be eligible for the University of Haifa MA degree in Actuarial Studies.
The program operates according to the guidelines of the British Institute https://www.actuaries.org.uk. The institute supervises most of the exams given in the actuarial studies program and grants an exemption (recognition) to those students whose marks are above the threshold set for each exam. In addition to the courses required by the British Institute, students will be able to acquire knowledge and skills in the field of data science.
The program is also in accordance with the Association of Actuaries in Israel, which accepts graduates of the program http://www.actuaries.org.il.
The exemptions received from the British Institute can enable graduates of the program to enter a training course through the Association of Actuaries, which opens up the possibility of entering the job market in Great Britain.
New in the program! Scholarships for preparatory year students and honors scholarships for MA students in each year of studies.
The Program
Registration & Admission
The program is intended for holders of a bachelor's degree in statistics with a minimum average grade of 80. Graduates of other degrees will be required to successfully complete a preparatory year (passing grade 60); For those with an average grade lower than 80 but not less than 70 in the bachelor's degree, the passing grade in the preparatory year is 65.
Candidates holding a bachelor's degree from an academic institute in which the language of instruction is not Hebrew, must pass a knowledge test in Hebrew at the level required by the university as a condition for his eligibility for the degree.
Applicants who hold a foreign bachelor's degree, as well as graduates of universities that have branches in Israel that operate with the approval of the Council for Higher Education, will be required to successfully pass the GRE exam or supplemental studies as part of their bachelor's degree studies.
The Courses
Preparation year:
Actuarial Statistics 1 (CS1)
Programming methods for actuaries
First and second year track, without a thesis:
Actuarial Statistics 2 (CS2)
Actuarial Mathematics 1 (CM1)
Actuarial Mathematics 2 (CM2)
Business Actuary (CB1)
Guidance workshop for writing a summary paper
Two elective courses
First and second year, track with thesis:
Actuarial Statistics 2 (CS2)
Actuarial Mathematics 1 (CM1)
Actuarial Mathematics 2 (CM2)
Business Actuary (CB1)
One elective course
Writing a research paper (thesis)
Studies in the program take place on Mondays, in one concentrated study day.
Elective courses are given on other week days.
*Students in the program will be offered a variety of elective courses from the Department of Statistics and the School of Business Administration.
For details about the program, please contact:
Dr. Gregory Gurevich - Administrative Director of the Actuarial Studies Program
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Ms. Vered Dana-Tron - Administrator of the School of Business Administration
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Ms. Tanya Libshevski - Actuarial Studies program coordinator
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