The School of Mathematical and Computer Sciences (MACS) at Heriot-Watt University, Dubai invites you to participate in the First Heriot-Watt University Actuarial Challenge. This is an exciting research competition built on actuarial science and risk analysis to help find innovative solutions to solve global issues such as life, mortality and longevity, climate change and environmental risks, insurance, finance and fintech, and health care analytics.
This annual team competition is open to all high school students aged 15 and older (or in Grade 10 and above) in the UAE and the Gulf region. It provides a valuable opportunity to test their critical thinking, mathematical reasoning, and analytical skills.
The competition includes a qualifying round followed by a final round.
Qualifying Round
Each school can form teams with 2 to 4 students to participate in this competition. There is no limit on the number of teams from each school. Teams will research a provided case study, conduct an analysis, formulate solutions, and present their recommendations in a report. The report will be assessed based on 5 criteria:
- Identifying issues
- Utilising mathematical models, statistics and probability knowledge and tools
- Analysing risks
- Making critical thinking recommendations
- Report writing
All participants in the qualification round will receive a certificate of participation.
Final Round
The top 5 teams from the qualifying round will be assigned an actuarial mentor, either from the faculty member of the Department of Actuarial Mathematics and Statistics (AMS), Heriot-Watt University or from the industry to provide high-level guidance on their project. Teams will meet virtually with their mentors to prepare for the final round.
The teams will then be invited to present their findings and report at the Heriot-Watt University Dubai Campus in front of judges, competing for a trophy engraved with their school’s name, which can be proudly displayed at their school until the next Actuarial Challenge.
Certificate of Participation
E-certificates will be awarded to all participants.
All participants who use professional computer programs, e.g., TeX, to document their report will receive a special note of honour on their certificates. This skill is valuable for the future careers of any student.
Student Prizes
The winners of the competition will be awarded the following prizes:
First Prize:
- Actuarial Challenge trophy engraved with the name of the winning school
- AED1,500 Cash
- 50% scholarship* to study the BSc (Hons) Actuarial Data Science programme at Heriot-Watt University, Dubai
Second Prize:
- AED1,000 cash
- 40% scholarship* to study the BSc (Hons) Actuarial Data Science programme at Heriot-Watt University, Dubai
Third Prize:
- AED500 cash
- 30% scholarship* to study the BSc (Hons) Actuarial Data Science programme at Heriot-Watt University, Dubai
N.B: *The scholarships offered will be calculated on the net tuition fee of the first year and will be spread equally over the duration of the degree.
School Prizes
School Award for Most Participants:
This award recognises the school with the highest overall participation to honour the efforts of the teachers for encouraging students to participate in the scientific competition.
School Award for Excellence:
This award recognises the school with the highest average score in the qualifying round to honour the quality of mathematics and statistics education in general.
The Heriot-Watt University Actuarial Challenge is organised by the School of Mathematical and Computer Sciences (MACS) at the Dubai campus. The school offers a BSc in Actuarial Data Science, which includes a wide range of courses such as actuarial mathematics, financial mathematics and statistics. Students will also have the opportunity to learn the newest areas of data science, particularly artificial intelligence and machine learning.
Graduates from this programme will possess a broad area of quantitative, numerical, and computational skills that are applicable to various industries, especially in insurance and finance, as well as exciting new opportunities in health, technology and climate change. Graduates who aspire to become qualified actuaries may qualify for exemptions from some of the professional actuarial examinations.
This programme is especially suitable for students who have a passion for working with numbers, specifically in modelling and probability, and who are interested in applying data science tools and techniques to solve real-world problems.
For more details, please contact Dr Haslifah Hasim, Associate Professor of Actuarial Mathematics and Statistics at H.Hasim@hw.ac.uk