International Undergraduate Program

Since its establishment in 2018, the ITB Undergraduate Actuarial Science Program has been one of the leading programs focusing on the development of applied and globally standardized actuarial and financial science. In the era of globalization and economic integration, the demand for professionals with international expertise continues to increase, particularly in the insurance, finance, risk management, and financial technology (fintech) sectors where skilled professionals play a critical role in supporting industry growth and innovation.

The Undergraduate Actuarial Science Program at ITB holds an “Excellent” national accreditation from LAMSAMA. Its curriculum aligns with international actuarial standards, including those of the SOA and IFoA, ensuring graduates gain globally recognized competencies for today’s financial industry.

The program collaborates with international partner universities through student exchanges, study-abroad opportunities, joint thesis supervision, and international guest lectures. These initiatives broaden students’ global networks and academic exposure.

All courses are delivered in English using interactive, research-based methods that build critical thinking, adaptability, and problem-solving skills in global contexts.

Students gain real-world insights through international internships at financial institutions, insurance companies, and fintech industries, strengthening their understanding of actuarial practice.

The program is supported by 66 faculty members (28 core faculty), many of whom graduated from leading overseas universities. International guest lecturers such as Ken Seng Tan from the University of Waterloo further enrich the curriculum by providing insights into current global actuarial perspectives and emerging industry trends.

Program quality is maintained through regular evaluations, satisfaction surveys, tracer studies, and national and international accreditation processes.

Graduates are equipped to compete globally and pursue international actuarial certifications, supported by strong analytical skills, cross-cultural communication, and professional integrity.

Although the ITB Undergraduate Actuarial Science Program has not yet established formal international university partnerships, it has collaborated in educational activities such as International Virtual Courses and joint workshops) and research with:

1. UiTM, Malaysia

2. Durham University

3. University of Waterloo

4. Khalifa University

5. UiTM, Actuarial Science

6. University Malaysia Terengganu

7. University of the Philippines Diliman

8. Kuwait University

9. Kasetsart University

10. Swansea University

11. Keio University

12. University of Malaysia

13. Nanyang Technological University

Graduates of the Bachelor’s Degree Program in Actuarial and Financial Sciences (AFiS) shall be able to:

1. Apply actuarial, mathematical, statistical, and financial principles to analyze, model, and manage financial risks in insurance, pension, and related sectors.
2. Demonstrate competence in risk assessment and quantitative analysis to support decision-making in insurance, social security, investment, banking, and governmental institutions.
3. Utilize appropriate computational tools and data analytics techniques in solving actuarial and financial problems.
4. Integrate interdisciplinary knowledge in addressing complex risk and financial management issues.
5. Communicate actuarial findings effectively to both technical and non-technical stakeholders.
6. Uphold professional ethics and regulatory standards in actuarial practice and public policy formulation.

Graduates can pursue careers as actuaries in insurance, pensions, and reinsurance, where they model risk, price financial products, and design retirement systems, often earning high salaries after professional certification. Many also move into data science, analytics, and artificial intelligence roles, as their training in probability and statistical modeling aligns well with modern machine learning and big data applications. In finance and banking, actuarial graduates work as quantitative analysts, risk analysts, treasury specialists, or investment analysts, contributing to financial modeling and risk management.