MUNCIE, Ind. – A partnership between Ball State University’s actuarial science and insurance programs should give students a head start when entering the workforce.

The Center for Actuarial Science, Insurance, and Risk Management also creates additional opportunities for faculty research and serves as a continuing education option for working professionals.

The new endeavor enhances the educational needs of students in the actuarial program based in the Department of Mathematical Sciences and the insurance program in the Department of Finance, according to co-directors Stephen Avila, a finance professor, and John Foley, a mathematical sciences professor.

Students have an opportunity to learn from professionals on advisory boards of actuarial science and insurance programs, as well as other visiting professionals, Avila said.

Students also are encouraged to attend local, regional, national and international conferences to meet industry leaders.

"This is a win-win situation," said Neil Palomba, dean of the College of Business. "We want to create opportunities for our faculty to conduct applied research. Research benefits our students, the public, the insurance and financial services industries, the business communities and our disciplines."

The center is a partnership between the College of Business and the College of Sciences and Humanities. Ball State is one of the few universities to offer majors in both insurance and actuarial science.

"The working relationship should allow the center to quickly become a leader in education, research and service," said Ronald L. Johnstone, dean of the College of Sciences and Humanities.

The new endeavor also is open to corporations wanting to send employees to the center for seminars or continuing education classes.

"The center is really an opportunity for interaction between industry leaders and our students, who are future industry professionals," Johnstone said. "This is a way to strengthen the relationship between the practice and the education of actuarial science, insurance and risk management disciplines."

By Marc Ransford, Communications Manager

(NOTE TO EDITORS: For more information, call the center at (765) 285-4282.)