MURFREESBORO, Tenn. — Middle Tennessee State University’s Actuarial Science Program is strengthening its national reputation while expanding opportunities for students to prepare for careers in one of the nation’s most specialized and in-demand professions.

The program, housed in the Department of Mathematical Sciences, combines mathematics, statistics, economics, finance, data science and business to prepare students to assess and manage financial risk in industries ranging from insurance and banking to health care and pensions.

“At its core, actuarial science is about quantifying risk, understanding it, measuring it, and finding effective ways to manage it,” said Vajira Manathunga, associate professor and director of MTSU’s Actuarial Science Program. “To do that, you need mathematical tools, but you also need knowledge in economics, accounting, business and data science. On top of that, you need communication skills.”

MTSU’s program has been designated by the internationally recognized Society of Actuaries as a Center of Actuarial Excellence, the organization’s highest level of recognition for institutions of higher learning. MTSU is one of only 45 universities worldwide and 24 in the United States to hold the designation.

Top-tier industry status

The program has also received Gold Tier status from the Casualty Actuarial Society’s University Recognition, placing MTSU among a select group of universities from across the globe to earn both designations.

The designations reflect the program’s academic curriculum, professional exam preparation, industry engagement, internships, research and career-development opportunities.

For Manathunga, one of the program’s greatest challenges is making prospective students aware that actuarial science is an option.

“Many students find out about actuarial science as juniors or seniors. Usually, it’s too late at that point,” Manathunga said.

As a way to increase exposure, the program held its first Actuarial Science High School Day on April 18 for students and parents, during which they learned about actuarial science, the professional exam process and career opportunities. Notably, entry-level actuaries can earn an average of $80,000 to $110,000 in Tennessee.

Professional connections, student support

MTSU also regularly brings industry professionals and researchers to campus and works with an industry advisory board to connect students with internships and employers. MTSU’s Actuarial Science Program is supported by five core faculty members with expertise across actuarial science, statistics, data science, and risk management, several of whom also hold professional actuarial designations.

A recent visit by Ian Duncan, president-elect of the Society of Actuaries, further demonstrated the program’s connection to the profession. Duncan spoke with the MTSU community about artificial intelligence and its implications for health insurance and also participated in the program’s efforts to introduce high school students to actuarial science.

Keira Cupp, an actuarial science major from Franklin who will graduate in May 2027, found the pathway early in her college career, although it was anything but a linear journey.

“For a couple of years, I practiced piano for over four hours a day and planned to study classical piano performance. I also knew from a young age that math was my strong suit. But as I got older, I realized I had no idea what career paths there were in mathematics,” said Cupp, who serves as president of MTSU’s Actuarial Math Student Association and vice president of finance for Gamma Iota Sigma.

Her mother, who works in the insurance industry, introduced her to actuarial science.

“Ever since then, I haven’t looked back,” said Cupp, a senior who spent her summer interning as a financial and actuarial consultant for Gallagher, a global insurance broker.

The professional structure of actuarial science appealed to Cupp. Actuaries must pass a series of rigorous examinations to earn credentials through internationally recognized professional organizations.

“I actually really like the exam path that comes with actuarial science,” Cupp said. “It’s not for everyone, but I like the fun challenge that comes with the exams.”

Cupp has passed two exams and hopes to eventually earn her Fellowship designation, the highest professional tier of certification.

Program a ‘hidden gem’

Cupp also has benefited from the support and professional opportunities available through MTSU’s program.

“When I passed my second exam in April, Dr. Manathunga made a point to reach out to me and congratulate me,” Cupp said. “Our actuarial program also offers reimbursements when you pass your exams, which was incredibly helpful.”

Students also participate in research, case competitions, professional conferences and industry events. The program’s Actuarial Math Student Association provides opportunities for students to build connections with their peers and professionals in the field.

“What I think sets our program apart is that Dr. Manathunga is constantly looking for ways to grow the program and is constantly looking for feedback from students,” Cupp said.

Manathunga sees those connections as central to the program’s continued growth.

“This is actually a hidden gem,” he said. “You don’t have to go far away. You don’t have to go all the way to expensive cities like New York to learn about it. It’s right here.”

As MTSU continues to expand its partnerships with employers, professional organizations, universities and community colleges, Manathunga hopes more students will recognize actuarial science as a career option — particularly those with interests in mathematics, statistics, data science and financial risk.

For Cupp, the opportunities available through the program have confirmed that she found the right career path.

“Actuarial science is constantly growing and offers so many opportunities,” Cupp said. “If you’re even remotely interested in statistics, data science, math or related fields, I would strongly encourage you to look into the career and our program at MTSU.”

— Nancy DeGennaro ([email protected])