For those of you who are curious about what kind of study will be done in the Department of Statistics and Actuarial Science,
I would like to briefly introduce what statistics and actuarial science are.
Statistics is a study that enables scientific thinking about uncertainty.
When you try to find order in uncertainty by using appropriate data, you often have to collect these data newly or find necessary information hidden in other massive data. Statistics is an essential discipline for making rational decisions by efficiently collecting and analyzing necessary data.
Insurance is a system that guarantees safety against unexpected economic losses that may occur to individuals or organizations. Actuarial science is a field that deals with various mathematical theories and analytical methodologies related to insurance, and it is the core of managing companies and public institutions in the fields of life insurance, indemnity insurance, medical insurance, various annuities, and reinsurance. Soongsil University's Department of Statistics and Actuarial Science is a department that fosters talents majoring in statistics and actuarial science. The two majors of statistics and actuarial science have a lot in common.
Since insurance is a system to prepare for the uncertainty of unforeseen risks, it is closely related to statistics, the study of predicting uncertainty.
Therefore, actuarial science can be regarded as a special application of statistics. To become an actuarial major, you need to take several basic subjects in statistics and then take additional actuarial subjects. However, not all students in our department are required to take both statistics and actuarial science at the same time. If you take insurance-related courses offered in the lower grades and feel that they do not fit your aptitude, you can take only statistics courses.
Conversely, students who have made an early decision to become an actuary or insurance professional may choose to take only the minimum credit of the statistics courses that directly help actuarial work and mainly take the actuarial courses. This flexible curriculum is one of the strengths of our department.