Actuarial Science and Risk Management
Actuarial Science at University of Illinois at Urbana-Champaign
Actuarial science mixes together the perfect blend of statistics, economics, finance, and risk management. This mixture is often in high demand among many different industries, and recruiters see graduates from U of I as even more attractive candidates than those from peer institutions.
Real projects. Real experience.
The Illinois Risk Lab (IRisk Lab) is a collaborative research hub that connects industry and academia, giving students hands‑on learning experiences and spotlighting innovative research in risk analysis and advanced analytics.
Department News
- PURSUE LAS is a program at the College of Liberal Arts & Sciences with the goal of expanding access to transformative undergraduate research experiences. It supports both established... Read full story
- A team of University of Illinois at Urbana-Champaign students took home some hardware after the 2026 Munich Re Cup, North America's premier actuarial science case competition. Destin Yu, Peter Zhang, and Sabrina Hsieh won first place for their strategic solution to this year's case: “Using... Read full story
- What does the weather mean to you? As a PhD student in mathematics who focuses on climate-related risk, I think about the weather not just in terms of my outfit or commute. To me, the weather is a commodity.Part of my research explores pricing models for weather derivatives, which are... Read full story
Center of Actuarial Excellence
We have been named a Center of Actuarial Excellence by the Society of Actuaries (SOA), one of a few such programs in the U.S. to be so recognized. The designation is earned by meeting stringent requirements and qualifications regarding the quality of degree program and curriculum at the undergraduate and graduate levels, faculty composition, connections to industry, and research/scholarship.
Casualty Actuarial Soceiety (CAS) University Award
The Casualty Actuarial Society (CAS) has also selected the University of Illinois twice as a winner of the prestigious University Award, recognizing its exemplary work in preparing students for a career in the property and casualty insurance industry. The university received an inaugural award from CAS in 2016 and again in 2020.
University-Earned Credit
The University of Illinois is one of several selected schools that offer a wide range of UEC courses. UEC credits assist with traditional SOA exams, guiding students to professional designations.