- What drew you to a career in property and casualty insurance?
I had two internships prior to my senior year of college. One internship on the life insurance side and the other on the property and casualty insurance side. Both internships were with the same company. Property and casualty work was a lot more dynamic. I enjoyed topics such as the implications of new technologies and weather patterns on insurance. That being said, I can’t say enough about the importance of company culture. Take a look at what positions actuaries hold within the company to see how the profession is respected.
- Why would you recommend a career in the property and casualty insurance industry, specifically an actuarial career, to current college students?
If you like math and business this is the career for you! A lot of the work consists of mathematical solutions to a business situation. We don’t know the cost of insurance upfront. It is up to us as actuaries to determine the best estimate of the cost. Aside from the challenging work, it is a career where you can have a nice work/life balance, which allows for both success on your exams and personal success (however you define that).
- What can students do now to prepare for a career in the industry?
Students should try to take an exam or two and work towards learning a computer language such as ‘R’. An internship in the insurance or financial industry, regardless of whether it is actuarial or not, can go a long way. A lot can be learned from gaining experience in a business setting including developing soft skills such as communication.
CAS member Kelsey Thraen, ACAS is an assistant actuary at Allstate Insurance Company.
The Casualty Actuarial Society (CAS) is proud to support the launch of Insurance Careers Month, a major multi-phased collaborative effort designed to help raise awareness of insurance as a compelling career choice. Throughout the month of February 2016, the CAS will feature profiles of millennials in the property and casualty insurance industry on www.CASstudentcentral.org.