Scalability and Effectiveness of MOOCs in Actuarial Science: A Global Perspective

Abstract

Massive Open Online Courses (MOOCs) have expanded access to STEM education globally, yet their application in specialized fields like Actuarial Science remains underexplored. Actuarial education requires mastery of advanced mathematics and risk modeling areas that pose challenges for scalable, self-directed online formats. This systematic literature review (SLR) investigates the scalability and effectiveness of MOOCs in Actuarial Science from a global perspective.
Following PRISMA 2020 guidelines, five databases (Scopus, Web of Science, ERIC, IEEE Xplore, and Google Scholar) were searched using Boolean terms related to “MOOCs” and “Actuarial Science.” From 412 retrieved records, 28 peer-reviewed studies were included after screening. Narrative synthesis focused on course completion, learner engagement, instructional design, and regional variation.
Findings show MOOCs can effectively broaden actuarial education access, particularly in Southeast Asia and Africa, when supported by adaptive features, interactive tools, and multilingual content. However, challenges such as high dropout rates, limited professional alignment, and infrastructure disparities hinder effectiveness. Well-designed, locally contextualized MOOCs with real-world relevance yielded higher retention.
This review provides the first focused synthesis on actuarial MOOCs, offering guidance for course developers, universities, and actuarial bodies on enhancing design, equity, and global reach.