Julianne Borgardt has been with Allstate Insurance Company since 2015 and currently works as an Actuarial Assistant on Allstate Business Insurance’s Commercial Property Lines. Julianne is a graduate of Concordia University of Wisconsin where she majored in Actuarial Science and minored in German Language. In addition to her normal actuarial work, Julianne has enjoyed speaking to college classes and actuarial clubs as well as participating in High School Actuarial Days and career days to increase awareness of the actuarial profession and share her experience.
Why would you recommend a career in the insurance industry to current college students?
The insurance industry serves a social benefit and is interesting and ever-changing. It allows its policyholders to rebuild after an unexpected loss and gives them that peace of mind, which for me makes this a rewarding field of work. The industry is ever growing as new items are considered valuable, think cellphones, and as regulation at the state and countrywide level changes, such as with self-driving cars or even tax laws. Additionally, a lot of the positions are in an office environment, so employees get to work in comfortable conditions.
Why did you become an actuary?
The main reason I became an actuary is because it was a profession that would use my problem-solving skill set and let me grow and be challenged while helping others. I was also attracted to the profession because of the exam program that has tangible achievements to help me feel accomplished. I also liked that it has a code of conduct and self regulates.
What drew you to a career in property and casualty insurance?
As an actuarial science student I was drawn to the P&C insurance industry because a lot of the products deal with tangible assets and because the work is still progressing and changing. You can find out how much a car costs or how much it costs to repair a roof; and as personal and commercial assets have shifted – cellphone insurance, ride-sharing and even identity theft all fall under property and casualty insurance. This keeps the problems we’re solving new, fresh, and interesting.
What can students do now to prepare for a career in the industry?
Getting good grades, and taking mathematics, probability, insurance, and business classes really helps build a foundation for the knowledge you’ll need in the insurance industry and as an actuary. I would also recommend doing your own research; there’s a lot of information out there about the industry and actuarial science, and it can help you find the right path for you.