IIT Madras awarded Silver-Level status by Casualty Actuarial Society for excellence in actuarial education

The Indian Institute of Technology (IIT) Madras has been awarded Silver Level status by the Casualty Actuarial Society (CAS) as part of its University Recognition Programme. This accolade, granted to the Department of Mathematics, recognises the department’s academic alignment with CAS’s rigorous curriculum and its contribution to training the next generation of actuarial and risk management professionals.

Focus on Industry-Relevant Education

The Department of Mathematics at IIT Madras is acclaimed for its emphasis on applied mathematics, statistics, and financial modelling—disciplines central to the field of actuarial science. The department offers Undergraduate, Postgraduate, and Doctoral programmes, underpinned by a strong commitment to research and engagement with the insurance and finance sectors.

In particular, the department’s focus on property and casualty insurance risk management has earned commendation from CAS, which praised the quality and relevance of its academic offerings. Faculty members expressed their gratitude for the recognition and voiced optimism about future collaborations, including faculty training workshops, student internship opportunities, and joint research initiatives.

Privileges of Silver-Level Recognition

With this Silver-Level status, IIT Madras gains access to an array of academic and professional resources. These include priority access to CAS summer programmes for students, teaching aids, case study databases, and participation in the General Insurance Teachers Conference. The department will also have opportunities to host events and virtual interactions with CAS professionals, enhancing student and faculty exposure to international best practices.

This recognition is valid through to 2026 and is expected to further strengthen the department’s focus on actuarial science and its links with the global insurance industry.

What Is CAS?

The Casualty Actuarial Society (CAS) is a globally respected professional body dedicated to advancing the practice of actuarial science in the field of general insurance. With over 10,000 members spread across more than 40 countries, CAS plays a pivotal role in education, research, and standard-setting for actuaries working in insurance companies, regulatory agencies, academic institutions, and consultancy firms. Its University Recognition Programme identifies and supports academic institutions that demonstrate a strong commitment to actuarial education aligned with industry needs.