MSc in Actuarial Science andInsurance Analytics

2022-2023

Asia’s Foremost University for Actuarial Science

CUHK

The MSc in ASI is a pioneering programme in Asia that integrates Actuarial Science and Insurance into one programme.

WHY CUHK AND CUHK BUSINESS SCHOOL

CUHK

CUHK Business School

Global Perspective, Regional Insights

Global Institute with Strong China Connection

No. 1 The most innovative university in Hong Kong (Reuters Asia Pacific’s most innovative universities 2019)

CUHK set up the Shenzhen Research Institute in 2007 to help address educational and training needs in the Greater Bay Area. Students and alumni could leverage resources and facilities in the institute, such as the Entrepreneurship and Innovation Hub, to seek for start-up support in China and beyond.

No. 3 The most international university in the world (Times Higher Education Most International Universities 2021)

No. 7 The best university in Asia (Times Higher Education (THE) University Rankings 2021)

Founded in 1963, The Chinese University of Hong Kong (CUHK) is a forward-looking, comprehensive research university with a global vision. Its mission is to combine tradition with modernity and bring together China and the West.

CUHK Business School has blazed a trail for business education in Hong Kong and Asia since 1963, cultivating high-achieving graduates who steer and shape the global business landscape. This spirit of leadership and innovation goes to the very core of our legacy as the first business school in Asia to offer a full suite of BBA, MBA and Executive MBA programmes, including the BBA in Insurance, Financial and Actuarial Analysis that the Department of Finance launched in 2002. Today, our world-class faculty and cutting-edge research continue to nurture nimble leaders, entrepreneurs and social stewards, with our proud network of more than 40,000 alumni driving meaningful impact in the Pearl River Delta and beyond.

OPTIMISE EXISTING TALENTS TO CAPTURE NEW DEMAND

Master of Science in Actuarial Science and Insurance Analytics (MSc in ASI)

Asia’s booming economies, rising incomes and ageing populations are unlocking major growth opportunities for insurers and reinsurers worldwide, transforming the continent into the world’s fastest-growing insurance market. This is unleashing surging demand for actuaries and opening up fresh career opportunities for those who revel in using mathematics and statistics to assess and mitigate risks for insurance, finance and business.

CUHK’s MSc in ASI is a full-time master’s programme designed to nurture high-calibre actuaries to meet this growing demand. Students can develop strong analytical and modern insurance analytic skills for a variety of actuarial or analytical roles, be it in insurance companies, banks, financial institutions or InsurTech start-ups.

Additionally, students will be primed for associate-level professional examinations administered by the Society of Actuaries (US), thus enabling them to practise their profession across global markets.

FINANCIAL INSTITUTIONS

INSURTECH START-UPS

BANKSINSURANCE COMPANIES

Join an In-Demand Profession in Hong Kong and the GBA

The thriving insurance industry in Hong Kong and mainland China holds bright prospects for ASI graduates. In Hong Kong, actuaries have been

identified by the government as a category of professionals urgently needed by the city, with the profession appearing on the Talent List of Hong Kong. In the

Greater Bay Area (GBA), actuaries versed in international insurance practices and actuarial leadership roles are also highly sought after, as insurers are

striving to serve the sophisticated lifestyles of the GBA’s 80 million residents.

Develop Key Competencies with Global Recognition

CUHK’s MSc in ASI is Hong Kong’s only actuarial science master’s programme. It follows a syllabus approved by the International Actuarial

Association and offers additional courses covering the insurance markets of Hong Kong and mainland China. Students learn from locally and internationally qualified

teachers and have opportunities to partake in fellowships in Hong Kong (with the Hong Kong Actuarial Society), Singapore, the US and the UK. Most significantly,

students will be trained to the highest standards stipulated by leading actuarial bodies and can gain internationally recognised professional qualifications upon graduation.

Leverage the Best That CUHK Offers

MSc in ASI programme is built on the success of CUHK’s BBA in Insurance, Financial and Actuarial Analysis (IFAA), an undergraduate programme offered by

the Department of Finance since September 2002. IFAA has been designated as a Center of Actuarial Excellence by the Society of Actuaries in the US since 2011.

Augmented by the international expertise, regional networks, career support and alumni community of the CUHK Business School, students can enjoy the

best that CUHK has to offer.

ASSORTED CAREER CHOICES AWAIT

All-Round Career Support and DevelopmentThe Career Management Centre of the Business School (CMC) provides students with a wide range of proactive and supportive career services to support their personal and professional growth. Activities such as individual coaching, career training/workshops, recruitment talks, leadership sharing and company visits are designed to unleash students’ management and leadership skills and prepare them for global business leadership roles. In addition, the MSc in ASI programme offers dedicated career consultation to help students excel in this specialised profession.

Versatility Unlocks Career FlexibilityGraduates opting for the MSc in ASI programme will be competitive candidates in a variety of business careers. Their versatile training prepares them for bright careers in banks, consulting firms, insurance companies, government agencies, the financial services industry and any business department linked with the management of substantial financial risks.

One Expertise with Myriad ApplicationsGraduates can pursue professional careers in the insurance industry as underwriters, insurance adjusters, examiners and risk managers. Being equipped with training in financial markets, modelling and investments, graduates will also be well-positioned for acquiring career opportunities as financial analysts in investment firms.

Prospective Employers List

AIA Company LimitedAXA China Region Insurance Company LtdBloombergBNP Paribas Hong Kong BranchChina Life InsuranceChina Pacific Insurance (CPIC)China Taiping Life InsuranceChubb Insurance Hong Kong LimitedDeloitte Advisory (Hong Kong) LimitedDeutsche BankErnst & Young Advisory Services Limited

FTLife Insurance Company LimitedFubon LifeFWD Life Insurance Company (Bermuda) LtdHang Seng BankHannover ReinsuranceHSBCHSBC Insurance (Asia) LimitedICBCKPMG AdvisoryManulife (International) LimitedMetLife Asia Regional

Nomura International Inc.People’s Insurance Company (Group) of China (PICC)Ping An InsurancePrudential Hong Kong LimitedRGA Reinsurance (Hong Kong and Southeast Asia)Sun Life Hong KongSwiss ReinsuranceUBS AGZhongAn Insurance

Students need to complete 30 units of required courses along with six units of elective courses. Every required and elective course includes three units. The elective courses to be offered are subject to change on a need basis.

* Students may take up to three units of courses offered by the MAcc, MBA and other MSc programmes of CUHK Business School subject to the approval of the programmes’ directors.

Holistic Curriculum for Optimised Learning

Hong Kong’s Only Actuarial Science Master’s ProgrammeThe MSc in ASI programme is designed to equip students with the actuarial and analytic techniques demanded by the global insurance industry and prepare them for careers in actuary-related professions. Through the MSc in ASI programme, students will:

Learn to m anag e an insurance company in MU

LTIC

ULT

UR

AL e n

viron

men

ts

Understa

nd the SOCIAL, ETHICAL AND LEGAL RESPONSIBILITIES of insurance companies

Dev

elo

p e

ffec

t ive

wri

tten

and o

ral C

OMMUNICATION sk il ls in the business context

Acquire fundamental knowledge of

DATA ANALYTICS and its applications in the domains of insurance and InsurTech

Obtain actuarial knowledge about the PRICING AND

FINANCIAL MANAGEMENT of insurance products

Gain essential QUANTITATIVE SKILLS

for actuarial analysis

Economics for Actuaries

Accounting and Corporate Finance

Probability with Applications in Finance and Insurance

Financial Mathematics for Actuaries

Statistics for Risk Modelling

Actuarial Mathematics for Long-Term Insurance

Actuarial Mathematics for Short-Term Insurance

Derivatives for Actuaries

Data Science for Insurance Analytics Statistical Modelling for Insurance Analytics

REQUIRED COURSES

Insurance and Risk Management

Life Insurance

Liability and Corporate Property Insurance

Advanced Life Contingencies

Loss and Survival Models

ELECTIVE COURSES

STUDY SCHEDULE

Sep – Dec 2022 • 4 core courses

Dec 2022 – Mar 2023• 4 core courses

Mar – Jun 2023• 2 core courses• 2 elective courses

TERM 1

TERM 2

TERM 3

Website

Address:

Telephone:Email:Website:

Room 1231, 12/F, Cheng Yu Tung Building12 Chak Cheung Street, Shatin, N.T., Hong Kong+852 3943 8555 / 3943 0505mscasi@cuhk.edu.hkwww.bschool.cuhk.edu.hk/mscasi/

Master of Science in Actuarial Science and Insurance Analytics

•

•

•

•

A recognised bachelor’s degree in any discipline (second-class honours / B grade or above) or equivalent professional qualification.

Fulfilment of language proficiency requirements*:•

•

••

GMAT/GRE scores and work experience are NOT required, but a good GMAT/GRE score or proof(s) of work experience can be helpful for marginal cases.

Completion with a passing grade of at least one university-level course in calculus (or an approved equivalent course) and at least one university-level course in probability or statistics (or an approved equivalent course).

The MSc in ASI programme recognises candidates with outstanding academic achievements as well as personal and professional accomplishments. Entrance scholarships are awarded to the most outstanding candidates, while various academic scholarships are offered to students with demonstrated academic excellence.

CUHK’s decision on the award of scholarships will be final and no appeal or further discussion will be entered into with any person regarding the award of scholarships.

https://apply.bschool.cuhk.edu.hk

Information seminars provide an excellent opportunity to learn more about the programme and to meet with the Programme Director. These seminars will tentatively be held throughout the admission period, from November 2021 to March 2022.Details of the information seminars will be available on the programme’s website: https://masters.bschool.cuhk.edu.hk/events

Entry Requirements Scholarships

Online Application

Information Seminars

••

1st Round:2nd Round:

HKD 300,000

Application Schedule

Tuition Fee

an undergraduate degree completed in Hong Kong, a degree programme taught in English, or a recognised professional qualification with the examination conducted in English; ora TOEFL report with a score not lower than 550 (paper-based) or 79 (internet-based); oran IELTS (academic format) report with a score not lower than 6.5; orequivalent proof of English proficiency.* Two-year validity period of TOEFL and IELTS results from the test date.

TAKE YOUR NEXT STEP FORWARD WITH US

1 November 2021 – 31 January 20227 February 2022 – 29 April 2022