The Evolution of an Undergraduate Actuarial Mathematics Program

Abstract

Bryant University was originally a school for business majors and offered only a few mathematics courses. After becoming accredited by the New England Association of Colleges and Universities in the 1960s, the college was required to upgrade its offerings in the area of mathematics. In the 1970s, the department offerings were increased to include computer electives, advanced topics in mathematics, and graduate-level quantitative business courses. As the department grew, majors were established in the department, including a major in Actuarial Mathematics. This major has grown from its first graduating class in 1986 of five students to a current total student enrollment today of 172. This paper discusses the evolution of the major and the success of the program. We provide the curriculum and highlight changes, which were necessary to conform to the ever-changing requirements for becoming an actuarial Fellow. We also discuss unique aspects of our program such as the SAS Certification in Data Mining that has greatly increased the marketability of our students.

Keywords:

• Actuarial undergraduate curriculum
• SOA/CAS requirements
• Actuarial Association for students
• SAS Certification
• SOA Center of Excellence

Additional information

Notes on contributors

Kristin Kennedy

Kristin T. Kennedy, a Professor of Mathematics at Bryant University in Smithfield, Rhode Island for over 30 years, currently serves as the Chair of the department. She graduated from Manhattanville College with a BA in Mathematics. She has completed two master’s degrees: an MST in Mathematics from Georgia Southern University and an MS in Computer Science from Brown University. Her Ph.D. is in Applied Science from the University of Rhode Island. Her research interests follow a wide spectrum from topics regarding the teaching of mathematics effectively to issues in accounting, healthcare, statistical research topics, and a variety of business topics. Most recently her teaching interests are in the field of statistics and actuarial mathematics courses. In addition to working and volunteering in the community, she enjoys traveling as often as possible, and she is an avid golfer.

Phyllis Schumacher

Phyllis Schumacher is a Professor of Mathematics at Bryant University. She currently is teaching Actuarial Statistics and advises actuarial majors at Bryant. Dr Schumacher earned her Ph.D. in Statistics from the University of Connecticut and also holds an MS and BA in Mathematics from the University of Rhode Island. Her research interests include issues in mathematics education, application of statistics to psychology, and gender issues in mathematics, and technology. She has published articles on these topics in professional journals on psychology, and mathematics and business education including Computers in Human Behavior, The Journal of Education for Business, and PRIMUS.