Overview
School of Mathematical Sciences, Tribhuvan University (SMSTU)
The School of Mathematical Sciences, Tribhuvan University (SMSTU), was established in 2016. The modern computerized world demands a human resource with three critical attributes: analytical ability, data processing capability, and fast computing efficiency. Addressing this challenge, Tribhuvan University has taken a pioneering step by offering the Bachelor in Mathematical Sciences (Actuarial Science) (BMathSc), Bachelor in Data Science (BDS), and Master in Data Science (MDS). These programs aim to produce experts with a sound knowledge of mathematics, statistics, data analysis, and computer science.
Our Mission
The School of Mathematical Sciences, Tribhuvan University (TU SMS), is dedicated to supporting students not only in understanding the modern world but also in developing practical skills to solve real-world problems across various disciplines. TU SMS provides an open, caring, and multicultural learning environment built on the core values of integrity, responsibility, and dignity.
Our Vision
TU SMS shares the vision of developing an intellectually vigorous community of students and faculty, engaging in research, teaching, and learning to advance knowledge in diverse areas of mathematics and support current scientific progress. It aims to provide students with extensive and diverse knowledge in the Mathematical Sciences, offering a unique interdisciplinary learning environment for high-quality education and research through the integration of mathematics, statistics, and computer science, striving to become a center of excellence.
Actuarial Science and its Global Scope
Actuarial Science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries and professions. Actuaries are expected to understand economic, financial, and demographic risks and possess expertise in developing and using statistical and financial models to inform financial decisions. Actuaries can perform various roles such as product pricing, financial modeling, valuations, risk management, conducting peer reviews, designing social security schemes, and advising on premium charges.
Career Opportunities
A career as an actuary involves applying mathematical and statistical knowledge, skill in risk assessment, and evaluating financial products such as insurance and investments. Actuaries typically work in the following fields:
- Life Insurance
- General Insurance
- Health Insurance
- Reinsurance Companies
- Pension Funds
- Consultants
- Investments
- Government
- Academics
- Risk Management
Scopes of Actuarial Science in Nepal
The field of actuarial science in Nepal is gradually gaining popularity and recognition. Recent years have seen significant activities in the Nepalese insurance sector, with both life and general insurers increasing their market presence and the penetration rate of insurance growing, especially after the 2015 earthquake. Although there are 40 insurance companies (19 Life Insurance, 20 Non-Life Insurance, and 1 Re-Insurance) operating in Nepal, a large portion (about 90 percent) of Nepal’s population does not have access to insurance services, creating a lucrative market for insurers. However, the country faces a severe shortage of actuaries. Insurance companies struggle to find qualified human resources, often paying high remuneration to foreign actuaries. One reason for this shortage is the lack of university-level courses in insurance. The absence of actuarial science courses has resulted in a scarcity of qualified actuaries in Nepal.
Courses Offered
- Bachelor in Mathematical Sciences (Actuarial Science) (BMathSc)
- Master in Data Science (MDS)
- Bachelor in Data Science
