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Postgraduate Diploma - PgDip
University of Essex
Full Time
Oct 2027
9 Month
Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. Actuaries quantify the probability and manage the risk of future events in areas such as insurance, healthcare, pensions, investment and banking, as well as in non-financial areas. This course is taught by the School of Mathematics, Statistics and Actuarial Science and is intended for those with a first degree in mathematics, statistics, economics or finance looking to acquire knowledge in actuarial science.Our Postgraduate Diploma Actuarial Science course is based on the syllabus of the majority of the core subjects of the Institute and Faculty of Actuaries, so you cover the following subjects as part of your course:CB1 (Business Finance), depending on the optional module selectedCM2 (Financial Engineering and Loss Reserving)CS2 (Risk Modelling and Survival Analysis)This focus on up-to-date research findings in actuarial methodologies and actuarial applications means that you gain solid training in actuarial modelling and actuarial analysis.You can also specialise on a topic of choice, such as:actuarial and financial modellinggeneral insurancelife insuranceYou also have the chance to study a problem in-depth through a Masters thesis project on a subject chosen by you or your supervisor.
What instruments are used by companies to raise finance and manage financial risk? What is the role of financial institutions operating in financial markets? What are the techniques of financial accounting? How do you use spreadsheets in financial analysis? Examine and develop the concepts and elements of corporate finance.
How do you define simple assurance contracts? What practical methods are required to evaluate expected values from a contract? How can you calculate gross premiums and reserves of assurance and reserves? Understand the mathematical techniques that can calculate, model and value cash flows dependent on death, survival or other uncertain risks.
What methods are available to model cash flows that are contingent on competing risk? What techniques for discounted emerging costs can be used in pricing, reserving and assessing profitability? Study the methods and techniques used in pricing and valuation of insurance policies and products, putting emphasis on those involving multiple lives.
How do you compare different income streams? You will be able to answer the question after studying this module which is critical in any financial decision making. In this module, all payments are assumed to be guaranteed and we will focus on the concept of valuing future monetary payments in terms of present. This module covers part of the CM1 course of the IFoA.
Ever considered becoming an Actuary? This module covers the required material for the Institute and Faculty of Actuaries CT4 and CT6 syllabus. It explores the stochastic process and principles of actuarial modelling alongside time series models and analysis.
What are the principles of actuarial modelling? And what are survival models? Examine how calculations in clinical trials, pensions, and life and health insurance require reliable estimates of transition intensities/survival rates. Learn how to estimate these intensities. Build your understanding of estimation procedures for lifetime distributions.
What skills do you need to succeed during your studies? What about after university? How will you harness your knowledge and soft skills to realise your career goals? This module helps you take an active role in developing transferrable skills and capitalising on your unique background. As well as broad reflection on your professional development, this module will help you explore different career directions and prepare you for the application process, supported by an advisor from within the department.
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