Actuarial sciences in Colombia:A masters program that transformsrisk into opportunity

Abstract

Launched in 2020, the Master’s in Actuarial Sciences at Escuela Colombiana de Ingeniería Julio Garavito is nearing its first Qualified Registration renewal. As part of this process, we present a concise overview of the program’s trajectory, highlighting relevant findings and key outcomes from its first four years. The program has positioned itself as a unique academic offering in Colombia, attracting professionals from diverse disciplines beyond Mathematics and Statistics. Demand has been primarily concentrated in the central region of the country, with Bogotá and Cundinamarca representing the largest share of applicants and enrolled students. Graduates of the program have consistently demonstrated strong analytical capabilities and problem-solving skills across a wide range of actuarial and financial contexts. In many cases, their performance has exceeded the expectations outlined in the Graduate Profile, reinforcing the program’s academic rigor and professional relevance. This document provides essential insights for evaluating the program’s development, its contribution to the actuarial field, and its alignment with institutional and national educational goals.