Ahmedabad, Gujarat, India, on 22 April 2025, the School of Private, Industrial and Corporate Security Management (SPICSM) at Rashtriya Raksha University, has officially announced the launch of a two-year hybrid program - MSc in Actuarial Science with Data Analytics (MSc – ASDA), in partnership with the Institute of Actuarial and Quantitative Studies (IAQS). This announcement was made during a press conference held at Circuit House, Shahibaug, Ahmedabad on 22 April 2025.

During the press conference, several dignitaries were present to discuss about this program and its various aspects. Among them were Prof. (Dr.) Bimal N. Patel, Prof. (Dr.) Kalpesh H. Wandra, Pro-Vice Chancellor of RRU; Mr. Nimesh Dave, Director of SPICSM, RRU; Mr. Akash Rughani, Program Director and Mr. Aman Loharuka, Director from IAQS.

This cutting-edge program is designed to develop a new generation of professionals equipped with skills in actuarial science, risk analysis and data analytics, all aimed at strengthening national security and addressing emerging challenges in the security domain. The course is designed to be flexible as it allows students to pursue this course in hybrid mode.

Prof. (Dr.) Bimal N. Patel, Vice-Chancellor of Rashtriya Raksha University, expresses his gratitude to the IAQS and underscores that the such joint efforts help to bridge the skill gap in actuarial science and data analytics, particularly for the IRDAI’s ‘Insuring India by 2047’ mission by developing professionals capable of designing inclusive, data-driven insurance solutions that enhance financial inclusion. During his address, Prof. Patel has mentioned that by 2030 we expect 25000 actuarial professionals through this program. This program will also provide platform for the students globally. He further stated that India will produce skilled professionals in the field of actuarial science.

Following the address, Mr. Aman Loharuka along with the IAQS Team provides in-depth insights about the newly launched MSc – ASDA program, its unique curriculum structure, and its strategic relevance in today’s evolving security landscape. Some of the key highlights included:

• Course Benefits: The MSc – ASDA will provide students with a robust understanding of advanced data analytics techniques with practical learning and job-oriented training.
• Admission Criteria: Bachelor’s degree in any discipline (Commerce/Engineering/IT/Mathematics) with a minimum of 50% in Semester 5. The students need to give aptitude test – RCET and a personal Interview if the marks are <80% in Semester 5. RCET to be exempted if cleared actuarial equivalent exam.
• Fee Structure: The course fee for the 1^st year is Rs. 317,335/- & Rs. 350, 760/- for the 2^nd year which includes tuition fees, library fees, university charges, study material and industry training fee.
• Industry Exposure: The MSc – ASDA program includes opportunities for internships and collaborations with industry partners, ensuring that students gain practical experience.
• Placement Opportunities: 100% Job placement assistance with a dedicated placement cell for resume building &interview preparation aimed at helping students to secure positions in leading firms within the finance and insurance sectors.

Mr. Nimesh Dave, Director of SPICSM, delivered a comprehensive vote of thanks for an interactive session with media representatives which provides an open platform for questions and further discussions on the academic and strategic merits of the MSc - ASDA program.

This initiative reflects RRU’s commitment in providing innovative educational programs that meet the evolving needs of today’s job market.

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