CAS Participates in The Pipeline, the Insurance Industry’s First Virtual Career Fair, Presented by Gamma Iota Sigma

pipeline

The Casualty Actuarial Society participated in The Pipeline Virtual Career Fair on February 13, 2018, joining insurance industry employers and organizations in connecting with students pursuing careers in  insurance. The event was organized by Gamma Iota Sigma (GIS), the insurance industry’s premier collegiate talent pipeline, in conjunction with Insurance Careers MonthThe Pipeline Virtual Career Fair was offered to students at no cost, and was attended by 700 students from both GIS chapter schools as well as nearly 50 additional schools. Nearly 1,400 interviews were completed in the five hours the event was running.

GIS Chief Executive Officer Noelle Codispoti noted, “Our firsthand experiences with our industry partners help to shape the programming we provide, and that’s no different when it comes to the industry’s need to meet the talent gap head-on. We see the need, we hear the industry demand, and we are helping to hone the talent solution through our ever-expanding network of students and chapters. All of these factors converged for us to make a meaningful contribution to Insurance Careers Month by doing what we do best: connecting top collegiate talent to opportunities in the industry through thoughtful and strategic collaboration.”

CAS University Engagement Manager Tamar Gertner said of CAS’s participation, “We want to thank GIS for organizing this innovative event, and spearheading a new way to connect with university students. As a Sustaining Partner of Gamma Iota Sigma, we appreciated the opportunity to participate in this event. The virtual career fair platform offered the CAS a chance to communicate with a number of students from a variety of universities, answering questions about the actuarial career path and the credentialing process, and sharing details about the resources and benefits offered through CAS Student Central, our free student membership program.”

The next Gamma Iota Sigma career fair will be held in conjunction with their Annual International Conference, scheduled for October 4-6, 2018 in Chicago, Illinois.

 

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The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. Founded in 1914, the CAS is the world’s only actuarial organization focused exclusively on property and casualty risks and serves over 8,000 members worldwide. Professionals educated by the CAS empower business and government to make well-informed strategic, financial and operational decisions.

 

About Gamma Iota Sigma

Incorporated in 1965 and boasting an annual membership of over 4,000 students at 76 colleges and universities throughout North America, Gamma Iota Sigma (GIS) is the industry’s premier collegiate talent pipeline and has over 50 years of history of engaging students and preparing them for careers in insurance. GIS is the only organization of its kind and is the solution to the industry’s talent gap issue, pursuing a mission to promote, encourage, and sustain student interest in insurance. GIS is committed to growing the number of highly qualified students entering the industry; to that end, the number of GIS students and active chapters has more than doubled in recent years and continues to grow. In partnership with Sustaining Partners, corporate supporters,

professional organizations, and trade associations, the full spectrum of GIS programming provides its members with meaningful interaction with the industry, as well as the tools to pursue and succeed in an insurance career. For more information, visit: GammaIotaSigma.org.


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New Benefit for Members of CAS Student Central: Access to Predictive Modeling Software!

We are excited to announce that through a partnership with Gross Consulting, members of CAS Student Central are being granted exclusive access to predictive modeling software called Cognalysis MultiRate™. This software is described by Gross Consulting as “a powerful predictive modeling tool for actuaries, analysts, and others whose jobs depend on understanding predictive relationships in their data.”

This new complimentary resource is geared towards actuarial students interested in gaining practical hands-on experience by building their own predictive models! Why is this beneficial? “Predictive modeling is critically important to the insurance industry, and its use in the industry continues to expand across lines of business and across insurance company operations,” states Chris Gross, CEO of Gross Consulting. While becoming familiar working with predictive models, students will develop valuable skills that can be added to their resumes and incorporated into talking points during job interviews!

So how can students get started? CAS Student Central members can access the software via the Career Resources tab. There they will find the software available for download, along with a dataset pulled from the website Kaggle.com, and three videos that orient them on getting started with MultiRate, and interpreting MultiRate results. Not a CAS Student Central member yet? Join today to gain access to this valuable resource.


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A.M. Best & Insurance Careers Movement Host Industry Leader Town Hall

To kick off Insurance Careers Month, A.M. Best and the Insurance Careers Movement hosted an Industry Leader Town Hall on February 1, 2018.

The town hall covered a series of interviews done by industry leaders from various companies and organizations within the insurance sector. Among those represented were two CAS members, Brian Duperreault, President and CEO at American International Group and Matthew Mosher, Executive Vice President and Chief Operating Officer at A.M. Best.

Tune in below to listen to the advice they shared on careers within the insurance industry and more on the Insurance Careers Movement!

Career Advice and the Insurance Careers Movement: Brian Duperreault:

“Working in insurance requires a mix of analytic, technical and social skills, making it a surprisingly interesting and engaging career choice.”

 

Career Advice: Matt Mosher

“Look for a company that’s going to support you…build your foundation early.”

 

To become more familiar with Insurance Careers Month, see our announcement.

To watch the entire town hall, please refer to the webinar link.


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CAS Profile: Matthew Edson

Matthew Edson studies actuarial science and finance and economics at the University of Connecticut. He is the CFO of the UConn chapter of Gamma Iota Sigma. Matthew will be pursing an internship this summer at Travelers in their Actuarial and Analytics Leadership Development Program (AALDP).

  1. Why are you interested in pursuing a career in the insurance industry?
    Not only is the insurance industry filled with opportunity, it is also a necessity in society. As technology advances, the insurance industry needs to be dynamic and ready to respond to changes, and I plan on being a part of it.
  2. Why did you decide to study actuarial science?
    Actuarial science blends business knowledge with technical expertise. As someone who takes great interest in both the analytical and business aspects of an industry, this field of study is perfectly suited for me.
  3. What advice would you give to someone interested in studying actuarial science?
    This profession requires a lot of dedication and time – if it’s something you’re passionate about, remain resilient and keep studying, and the hard work will pay off.

 


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CAS President Brian Brown Visits University of Wisconsin – Madison

CAS President Brian Brown recently visited the University of Wisconsin – Madison, which was one of three schools recognized in 2017 as a winner of the CAS University Award.

Brown’s visit on February 5 included meetings with the officers of the school’s actuarial club and the department faculty, as well as a presentation to the actuarial club about career opportunities as a property-casualty actuary credentialed through the CAS.

“Undrakh (Uugii) Jargalsaikan, our Student Ambassador to Wisconsin, did an outstanding job arranging the meetings for the day. He is the first actuarial student who I’ve met from Mongolia. It is refreshing to meet so many wonderful people from around the world.”

University of Wisconsin – Madison has one of the largest actuarial science programs, with over 400 students. The meeting with faculty focused on how the CAS can provide more support of the schools mission to educate the next generation of actuaries.

But it was the meeting with actuarial club officers that Brown especially enjoyed. He commented, “I was amazed by the skill set of the actuarial officers. They all had great communication skills, have passed three exams and had one or two internships. I think we have a wonderful pipeline of candidates entering the profession from Wisconsin.”

Brown’s presentation to over 200 actuarial club members provided an overview of the CAS and the work that CAS members perform. The presentation engaged and intrigued the students, as evidenced by the many thoughtful questions they posed to Brown.

One of the highlights of Brown’s visit came after the presentation. As he explains, “At the end of my presentation, a number of students came up to talk to me one-on-one. Two sisters from Malaysia shared with me that they plan to study CAS material and then move back to Malaysia to work for a reinsurer. I was recently in Malaysia where I heard about the overwhelming demand for property and casualty actuaries due to detarrification and regulatory requirements regarding financial statements. I think their timing for being a property casualty actuary in Malaysia is perfect!”


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CAS Profile: Kristen Marshall

Kristen Marshall studies actuarial science at Illinois State University. She is the vice president of membership for Toastmasters International Club on campus, the finance coordinator for Christian Business, and the current trip leader for the 2018 Honors Program Alternative Spring Break Trip to New Orleans, where she will partner with Junior Achievement to visit low-income schools to teach students about finance and running a business. Kristen currently interns at Pinnacle Actuarial Resources and has accepted a full-time offer at the company.

  1. Why are you interested in pursuing a career in the insurance industry?
    I am interested in pursuing a career in the insurance industry because the challenge of insuring assets in an evolving, technological society is fascinating to me. The great diversity of work in the actuarial field will make each day exciting in a quest to adapt to the changing risks and regulations caused by new technologies. I love being able to have a positive impact by contributing to the effort of worker safety and economic stability provided by insurance.
  2. Why did you decide to study actuarial science?
    Growing up, I was passionate about taking care of animals and my favorite subject was mathematics. After realizing I do not like blood or needles, I made the decision to pursue a career relating to mathematics. I was led to actuarial science after researching college majors and discovering that the career fit my skillset. The exam process was intriguing as I crave challenges to keep myself on a path of continual development.
  3. What advice would you give to someone interested in studying actuarial science?
    My best advice to someone interested in actuarial science is to jump in with both feet. There are endless opportunities in college for personal and professional growth. Do not be afraid to participate in internship fairs and networking events as a freshman because the experience is beneficial in preparation for landing an internship as a sophomore. If possible, I recommend taking insurance classes to learn about the vast insurance industry outside of the actuarial field

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2018 OLA Industry Travel Scholarship

The Organization of Latino Actuaries (OLA) is launching a travel scholarship program!

The scholarship sponsors candidates to attend CAS student programs held in conjunction with CAS conferences. The programs offer actuarial students the opportunity to engage with practicing actuaries and learn more about the actuarial profession and the property and casualty insurance industry. At the end of the meetings, students will attend an OLA networking event.

In order to apply, you must be a Latino actuarial candidate with at least one exam passed. Candidates who are new to OLA will be asked to submit a resume.

To learn more and apply, visit the OLA Travel Scholarship application website.

See dates and locations of upcoming CAS Student Programs:

Casualty Loss Reserve Seminar
September 6, 2018
Anaheim, CA

Annual Meeting
November 13, 2018
Las Vegas, NV


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Apply for the 2018 CAGNY Scholarship

OBJECTIVE:
The objective of the scholarship is to further students’ interest in the property/casualty actuarial profession and to encourage the pursuit of the Casualty Actuarial Society designations.

ELIGIBILITY:
The CAGNY Scholarship Program is available to any U.S. or Canadian citizen or holder of a permanent resident visa who is currently a full-time student at a U.S. or Canadian college or university, and will attend a U.S. or Canadian college or university as a full-time student for the 2018-2019 academic year. An applicant must have demonstrated high scholastic achievement and strong interest in pursuing an actuarial career in the property/casualty insurance industry.

Preference will be given to applicants native to the Greater New York area or attending universities in the Greater New York area.

PROCEDURE:
An application is considered complete when it includes:

  1. The CAGNY Scholarship application, along with the requested essay.
  2. The recommendation form included with this application, preferably completed by an instructor who knows the applicant well.
  3. A current official transcript.
    Completed applications are due by April 15, 2018. Applications are available from CAGNY or online at the CAGNY website at http://www.casact.org/community/affiliates/cagny/. Winners will be notified during May 2018 and will be invited to attend the CAGNY spring meeting in May in New York City.

AMOUNT OF SCHOLARSHIP:
Scholarships are awarded on the basis of individual merit. In the last several years awards have typically ranged from $1,000 to $3,000.

FOR FURTHER INFORMATION, CONTACT:
Jason Pessel
CAGNY Education Chair
Casualty Actuarial Society
4350 N. Fairfax Drive
Suite 250
Arlington, Virginia 22203

Or E-mail: CAGNY@casact.org


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CAS Profile: Jake Akstins

 

Jake Akstins studies actuarial science at the University of Illinois at Urbana-Champaign. He is president of the university’s actuarial science club, and was selected as a 2017 CAS Trust Scholarship Winner. Jake has spent the last two summers interning at CNA and will begin working there full time after graduation.

  1. Why are you interested in pursuing a career in the insurance industry?
    I believe in the mission of insurance – insurance is a social tool which indemnifies others to make them financially whole after experiencing a loss or accident. Insurance is a concept that allows people to help others through the insurance company which serves as a liaison. I want to help make these connections smooth and fair.
  2. Why did you decide to study actuarial science?
    I would’ve never ended up in this field if it wasn’t for the Illinois Mathematics and Science Academy (IMSA), my high school. Here, I was exposed to professors who taught me about the power of mathematics and what you can do with it. I am very interested in diversity and inclusion and social justice, and I find ethical questions regarding pricing and reserving (quantifiable discrimination vs. more accurate pricing) to be fascinating. I am particularly interested in confounding variables.
  3. What advice would you give to someone interested in studying actuarial science?
    Do your research, learn the lingo, and read-up on the industry. What’s a loss ratio? What’s a loss? What’s a claim? Use these questions to help you dig deeper to find your “why”. Studying to be an actuary is a lot of work, and I really, really wouldn’t recommend to do it just for the money.

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