Institut de Science Financière et d'Assurances (ISFA)

What Institut de Science Financière et d'Assurances (ISFA) does

ISFA (Institut de Science Financière et d'Assurances) is a French public educational institution founded in 1930 and operating as an internal school (école interne) of Université Claude Bernard Lyon 1. It is the oldest French university qualified to award the Actuary certification and serves approximately 600 registered students through degree programs spanning actuarial sciences, econometrics and statistics, management of SMEs (PME-PMI), and a dual undergraduate degree in mathematics and economics, graduating more than 70 qualified actuaries each year. The institute addresses the structural French demand for qualified actuaries and risk professionals by combining academic rigor with industry placement through an annual ISFA Forum that connects students with over 30 partner companies and generates more than 500 internship and job offers per year.

The institute's technical and research foundation is the SAF Laboratory (Laboratoire de Sciences Actuarielle et Financière, EA 2429), the only university research laboratory in France dedicated to actuarial and financial sciences. SAF conducts interdisciplinary research spanning applied mathematics, statistics, management sciences, economics, computer science, and private law, with active workstreams in extreme value theory, ruin theory, longevity risk modeling, enterprise risk management, and medico-economic analysis. Sponsored research chairs (notably BNP Paribas Cardif's "Data and Models in Insurance" Chair and Milliman's chair on long-term insurance stability) integrate industry-funded research directly into teaching and doctoral training, supported by ANR national grants, CIFRE industry-doctoral agreements, and international collaborations with Columbia University, HEC Lausanne, and the Institut des Actuaires.

ISFA's business model is a hybrid of public higher education funding, corporate contributions, and tuition. The institute is government-owned and receives standard public university allocations. Self-generated revenue (representing roughly two-thirds of own resources) flows primarily from the French apprenticeship tax (taxe d'apprentissage) — €4,700 annual training cost per apprentice — and from sponsored research chairs and grants. Standard tuition is €300 per student per year. Customer segments are students recruited through the BECEAS national competitive entrance exam, insurance and finance professionals enrolled in continuing education, and doctoral researchers in the SAF Laboratory.

Name

Institut de Science Financière et d'Assurances (ISFA)

Legal name

Institut de Science Financière et d'Assurances

Website

https://isfa.univ-lyon1.fr

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

11–50 employees

Short description

ISFA is a French public university institute founded in 1930, the oldest French institution qualified to award the Actuary certification, training more than 70 qualified actuaries annually and operating France's only dedicated actuarial and financial sciences research laboratory.

Ownership category

akta.pro rank

Headquarters

HQ city

Lyon

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Public Higher Education Funding: As a public university institute, ISFA receives government funding for education and research activities.
2. Apprenticeship Tax (Taxe d'apprentissage): Companies allocate a portion of their apprenticeship tax directly to ISFA to support educational projects. The annual training cost per apprentice is stated as 4700 euros, with tuition fees of 300 euros per student per year.
3. Research Grants and Chair Funding: SAF Laboratory receives funding through sponsored research chairs (e.g., BNP Paribas Cardif Chair, Milliman Chair), ANR projects, and CIFRE doctoral theses co-funded by companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

ISFA is a public higher education institute within Université Claude Bernard Lyon 1 that delivers undergraduate, master's, and doctoral programs in actuarial sciences, econometrics & statistics, and SME management, alongside continuing education for insurance and finance professionals. The institute operates the SAF (Sciences Actuarielle et Financière) Laboratory, a dedicated research unit conducting interdisciplinary research in risk modeling, enterprise risk management, and extreme value theory, supported by sponsored research chairs from BNP Paribas Cardif and Milliman.

Product overview

ISFA is an educational institute within Université Claude Bernard Lyon 1 offering a comprehensive portfolio of academic programs in actuarial sciences, financial engineering, risk management, econometrics, and statistics. The institute provides undergraduate (Double Licence), graduate (Master's in Actuariat, Econometrics & Statistics, Management des PME-PMI), and doctoral programs, as well as continuing education for professionals. ISFA also operates the SAF Laboratory (Laboratoire de Sciences Actuarielle et Financière), a dedicated research unit conducting interdisciplinary research in risk modeling, enterprise risk management, and financial sciences. The institute hosts the annual ISFA Forum career event connecting students with industry employers.

Differentiator

Problem solved

Functional benefit

Products and services

• Actuarial Sciences (Actuariat) Program Core actuarial science degree program training students in mathematics, probabilities, statistics, economics, finance, and insurance, preparing them for careers in risk management, insurance, and actuarial practice. Students enter via the BECEAS national competitive exam after scientific preparatory classes or mathematics-focused undergraduate degrees.
• Econometrics & Statistics Program Master's-level program in econometrics and statistics with specializations in finance, IT security, business analysis, and decision-making for risk engineering.
• Management des PME-PMI Program Master's program focused on management of small and medium enterprises.
• Double Licence de Mathématiques et d'Économie Dual bachelor's degree combining mathematics and economics disciplines, offered jointly with the mathematics department.
• Formation Doctorale (PhD Program) Doctoral research training program in actuarial and financial sciences, hosted by the SAF Laboratory with research topics including ruin theory, longevity risk, and risk management.
• Formation Continue (Continuing Education) Continuing professional development programs in actuarial science for working professionals in insurance and finance, available on campus and through apprenticeship (alternance) tracks.
• Laboratoire SAF (Actuarial and Financial Sciences Laboratory) Research laboratory (EA 2429) conducting interdisciplinary research in risk modeling, enterprise risk management (ERM), economic and medico-economic risk analysis, and extreme value theory, supported by industry-sponsored research chairs.
• ISFA Forum Annual career forum connecting ISFA students with employers in insurance, finance, and risk management sectors through company presentations, conferences, and networking. Over 30 business partners participate.

Quantifiable outcome

• >70 qualified actuaries graduate each year ready for professional practice
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core and minor.

• BNP Paribas CardifcoreStrategic or Co-development Partner · 15 November 2015BNP Paribas Cardif renewed its partnership with SAF Laboratory for 5 years dedicated to 'Data and Models in Insurance' (DAMI Chair). The chair develops research activities on insurance models and data analytics for insurance, building on a first successful project period.
• MillimancoreStrategic or Co-development Partner · 1 January 2015Milliman sponsors the 'Lasting Actuarial Work and Stability of the Long-Term Insurance Sector' research chair, promoting research in ruin theory, long-term insurance risks, and systematic risks.
• Columbia UniversitycoreStrategic or Co-development PartnerJoint ISFA-Columbia research workshops on Actuarial Science, Quantitative Risk Management, and Data Science for insurance and finance, with collaboration on DAMI chair research and LoLitA project.
• HEC LausannecoreStrategic or Co-development PartnerOver 25 years of joint actuarial seminars (evolved into Lyon-Lausanne-Paris seminars), jointly organized with DSA at UNIL and SAF Laboratory at UCBL.
• Institut des Actuaires (French Institute of Actuaries)coreStrategic or Co-development PartnerProfessional actuarial association providing sponsorship and endorsement for EAJ 2016 conference and ongoing collaboration on actuarial education standards.
• Université Claude Bernard Lyon 1coreStrategic or Co-development PartnerISFA is an internal school and component of University Lyon 1, operating within its administrative and academic framework.
• GeneraliminorStrategic or Co-development PartnerPrevious chair sponsor (2010-2015) for 'Responsible Actuarial Work: Management of Natural Risks and Climate Change', strengthening natural risks research branch.
• GarantmeminorChannel Partner/ Reseller/ DistributorPartnership providing rental guarantee services for students, supporting student housing needs.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Université de Strasbourg - Actuariat: Another French university offering the actuarial certification track (BECEAS), producing qualified actuaries from eastern France. Competes with ISFA for corporate apprenticeship placements in the insurance sector.
• Université Paris-Dauphine PSL: Dauphine runs a prominent actuarial and risk management program feeding the same Institute of Actuaires certification pipeline. It targets the same Paris-area student pool and competes with ISFA for employer-sponsored apprenticeships.
• ENSAE ParisTech / ENSAE-IPP: French grande école with a long-standing actuarial science track (and former home of ISFA's current director Christian Robert). Offers actuarial training through ENSAE's program and shares the same BECEAS national exam pathway, making it the closest French competitor for actuarial students.
• ISUP - Institut de Statistique de l'Université de Paris: ISUP offers actuarial training at Université Paris Cité, sharing the BECEAS exam pipeline with ISFA. It is a direct competitor for students in the Paris region and a peer member of the French actuarial education ecosystem.
• EURIA - Euro Institut d'Actuariat (Université de Bretagne Sud): EURIA is one of the leading French actuarial schools, located in Brest. It offers the same actuarial certification track via the BECEAS exam and competes directly with ISFA for students from prépa and licence backgrounds.
• HEC Lausanne / Université de Lausanne - DSA: Swiss actuarial program at UNIL and long-standing ISFA partner (25+ years of joint Lyon-Lausanne-Paris seminars). Operates in the same actuarial and financial sciences research domain with shared academic exchanges.

Broad incumbents

• Heriot-Watt University - Actuarial Mathematics and Statistics: Heriot-Watt in Edinburgh runs a well-established UK actuarial program with a strong industry placement record. Comparable to ISFA in scale and applied actuarial training focus, though serving the UK market via IFoA.
• Cass Business School (City, University of London) - Actuarial Science: Bayes (formerly Cass) Business School offers one of the UK's flagship actuarial science programs, training actuaries for the IFoA track. Comparable in mission (actuarial education and research) but operating under the UK actuarial accreditation system.
• University of Waterloo - Actuarial Science: Waterloo operates the largest and most established actuarial science program in North America. While operating under a different professional body (CIA/SOA), it is a global benchmark for university-based actuarial education at scale.

Regional players

• Université Libre de Bruxelles (ULB) - Centre de Recherche en Actuariat: ULB hosts an actuarial research center serving the Belgian and broader European market. Comparable in mission (actuarial teaching and research, Institute of Actuaires-aligned training) but focused on the Belgian and Brussels-based employer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ISFA_Lyon1
• Facebookfacebook.com/ISFA-342763939081773
• LinkedInlinkedin.com/school/institut-de-science-financière-et-d'assurances-i.s.f.a-
• Instagraminstagram.com/isfa_lyon1/?hl=fr

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Institut de Science Financière et d'Assurances (ISFA)