An actuarial science program is designed to teach students about analyzing risks, specifically in the insurance field. Programs will usually contain multiple mathematics courses, such as statistics and calculus, along with courses in risk analysis, computers and economics.

Requirements for the PhD program often involve the student having already obtained a Master’s degree. Additionally, a thesis or dissertation primarily consisting of original academic research must be submitted. In some countries, this work may even need to be defended in front of a panel.