Master of Financial Insurance

A circle of Data Science, a circle of Finance, a circle of Insurance, & MFI in the middle

The Department of Statistical Sciences at University of Toronto is home to the Masters of Financial Insurance (MFI) program. Launched in September 2016, the MFI program addresses the growing industry demand for professionals with expertise at the confluence of Data Science, Insurance, and Mathematical Finance. Since its inception, the MFI program has rapidly expanded, producing highly sought-after professionals in sectors such as finance, insurance, fintech, pensions, and consulting. The 2024 cohort, carefully selected from a competitive pool of applicants, features 28 candidates with an acceptance rate of under 10%, maintaining a balanced gender distribution.

The MFI program exhibits a pronounced mathematical sophistication, and typically, eligible candidates possess a Bachelor’s or Master’s degree in a quantitative discipline, including but not limited to actuarial science, statistics, economics, mathematics, or engineering. Prospective students are expected to demonstrate proficiency in advanced mathematical concepts, encompassing multivariable calculus, linear algebra, probability theory, statistical analysis, and computational methods. Supplementary education in actuarial science, economics, and finance is regarded as a valuable asset.

The MFI is a three semester program. In the first two semesters, our students benefit from a dual educational approach: they receive theoretical instruction from globally recognized academics in the Department of Statistical Sciences, which ranks among the top 10 in the world according to the Shanghai Rankings. Simultaneously, they gain practical insights from accomplished industry professionals, enhancing their problem-solving skills and industry acumen. This blend of academic and industry exposure equips our students with unique insights and insider knowledge. During the third semester, students engage in experiential learning by undertaking an industrial internship.
We invite accomplished students with a strong academic record, who harbour a keen interest in the fields of data science, actuarial science, and finance, to get in touch!”