Actuaries specialize in the evaluation of insurance and financial risks. They hold positions of responsibility with insurance companies, consulting firms, investment banks, self-insurers, government regulators, and government insurance programs. The industry requires an interdisciplinary skill set, including skills in Mathematics, Computer Science, Business, and Economics.  The Actuarial Science concentration is specifically designed to prepare students for a career as an actuary. Students completing the Actuarial Science concentration will have a good foundation in the material for the actuarial industry’s first two exams and will have completed two and a half of the industry’s three required Validation by Educational Experience (VEE) requirements. Our program remains current by seeking ongoing advice from an Advisory Board. The Advisory Board consists of at least five active actuaries throughout Maine. It consists of both Life and Health actuaries as well as Property and Casualty actuaries. Among other topics, the Advisory Board is asked for advice regarding curriculum, desired technological skills, and internships.  For a full description, visit the UMF catalog.

How do I explore Actuarial Science at UMF?

There are many ways to explore a major. You could:

  • Review the webpage for this major.
  • Talk to faculty members in the major. Ask about their career path.
  • Sit in on a class in this major. Choose a class of interest and contact the faculty member to find out which day might be best to drop in on. If you have access to myCampus, click here to go to Schedule Planner to view classes.
  • Talk with upperclass students in the major. They can give you insights into the courses you will take and professors who will instruct you. Just remember, their reasons for liking a major may be different from your own. Ask your advisor, your CA or other UMF staff to help you find someone in the major.
  • Enroll in one of the following courses:
    • MAT 141M Calculus I or MAT 142 Calculus II
    • ECO 101S Principles of Macroeconomics
    • BUS 208 Accounting Principles
  • Get involved with a Club & Organization related to the major.
  • Volunteer or intern with an organization that is aligned with this major. Contact Meghan Price at The Partnership for Civic Engagement, or Career Counselors Stephen Davis or Cyndi McShane to discuss opportunities.
  • Try a Job Shadow or Informational Interview. Contact Stephen Davis or Cyndi McShane for more information.
  • Make an appointment to talk to a Career Counselor (Steve or Cyndi) or Academic Advisor (Lori Soucie) about the major.

What can I do with this major?

Learn more about the major using this resource called Be An Actuary.

Can I minor in Actuarial Science? Are there related majors at UMF?

UMF has minors in related areas such as Business, Mathematics, and many other choices.  Click here for more information. Majors related to Actuarial Science include Business Economics and Mathematics.

What kind of jobs have UMF graduates obtained with this major?

Pricing Actuary at Anthem, Data Analyst at the Center for Outcomes Research and Evaluation at Maine Medical Center, Actuary at Custom Disability Solutions, Underwriting Data Analyst at MEMIC, Pricing Actuary at Anthem, Statistician at ME Department of Labor, Actuarial Consultant at BerryDunn, Informatics Specialist at RowdMap, and Actuary at Gen RE

What other career paths can I pursue?

Careers related to this major include Statisticians, Financial Managers, and many more. Talking to faculty in the major or a career counselor can provide you with more information about a variety of career paths associated with this major.

How do I declare this major?

The first step is to communicate with the contact person for this major: Dr. Lori Koban, Brinkman House,, 207-778-7952.

To apply to the major, complete a change of major form (available in Merrill Center or any academic office).

Back to list of majors at UMF