Drake University has again been awarded the prestigious Center of Actuarial Excellence (CAE) designation by the Society of Actuaries (SOA), signifying that its School of Actuarial Science & Risk Management is among a small number of programs accredited as best in the world in this burgeoning field of study. Drake is one of 17 programs in the United States and 33 globally with this designation. The five-year designation recognizes outstanding actuarial science programs which meet rigorous requirements related to their curriculum, faculty, and graduates.
“The renewed recognition by the SOA is very relevant for Drake’s College of Business and Public Administration with employment of actuaries projected to grow 18% from 2019 to 2029, much faster than the average for all occupations according to the U.S. Bureau of Labor Statistics,” said Alejandro Hernandez, dean of the College of Business and Public Administration, which is home to Drake’s actuarial science program. “Drake was among the first group of universities to receive the CAE designation when it was established in 2009 and we have built on that leadership position during succeeding years to continue to be a trailblazer in this flourishing field.”
Drake’s actuarial science program was recognized by the SOA for providing students a solid integration with business in its offerings as well as a strong connection to industry. Drake graduates are positioned for success with a well-rounded curriculum that includes business acumen and leadership skill development, actuarial exam preparation, and internship experiences. As a private institution, Drake also offers students small class sizes, an individualized approach to their learning, and faculty mentors.
“There is a growing market demand for skilled actuaries to develop, price, and evaluate a variety of insurance products and calculate the costs of new and emerging risks,” said Susan Watson, director of Drake’s School of Actuarial Science and Risk Management, and assistant professor of practice in actuarial science. “The fact that our students’ actuarial exam pass rates regularly exceed national averages is testament to the strength of our program.”