CAS Profile: Rafael Costa, FCAS

I have almost 20 years of experience as an actuary. Throughout my career, I have worked in three different countries and have had roles in pricing, reserving, and catastrophe modeling. I worked at two large insurance carriers, one ride-share company, and one autonomous vehicle technology company.

 

Where do you work and what is your position?

I am an Associate Director at WTW.

Why did you decide to become an actuary?

At the time, I was deciding between being an actuary and a math teacher/researcher. The decision to pursue the actuarial path was driven by my desire to apply math to real-world business problems, as well as the expectation of a more stable and richer (yes, I mean monetarily) career prospect.

What parts of the profession do you love the most?

I really enjoy the fact that we get new problems to solve as the world around us evolves. We influence and respond to technological advancements as well as regulatory, economic, and even geopolitical shifts. The other aspect that I like is that we are a tight community of professionals with great opportunities for networking, development, and volunteering.

What is the best piece of career advice you have ever received?

Early in my career I had a mentor who helped me create my very first individual development plan. He encouraged me to think big and push the limits of what I considered “possible” at the time. Writing down ambitious plans on a piece of paper was surprisingly powerful to push me to stick to them.

Why would you recommend a career in the P&C insurance industry to current college students?

I recommend it because our work drives clear and strong societal benefits, as we enable measured risk-taking. From a practical perspective, it’s a career with a well-defined path to designations and a strong reputation.

What can students and early professionals do now to prepare for a career in the industry?

Be curious and entrepreneurial. Curiosity helps you see beyond the mechanics of actuarial work, and an entrepreneurial mindset pushes you to turn that curiosity into value for your team, your company, and your career.


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CAS Profile: Michael Suess, FCAS, CPCU, ARe

Michael Suess, FCAS, CPCU, ARe, is an Actuarial Research Director at COUNTRY Financial, where his current responsibilities include oversight of predictive models, rate indications, and rate verification for personal, commercial, and agricultural lines of business. Michael is a Fellow of the CAS, Chartered Property Casualty Underwriter, and Associate in Reinsurance. He obtained a bachelor’s in Science from Illinois State University.

Michael currently serves on the advisory board for Illinois State University’s Actuarial Science Program and has also been able to teach basic ratemaking at Illinois State. While not at work, his free time is spent with his wife, Emelia; two children, Aubry and Koen; two dogs, Arya and Stark; two ducks, Cupcake and Rose; and one rabbit, Bun Buns.

Where do you work and what is your position?

I work at COUNTRY Financial as a director of property casualty actuarial research.

Why did you decide to become an actuary?

Honestly, going into college I had no idea what I wanted to be. I was good at math but knew I did not want to live on a teacher’s salary. I also know I preferred the practical application of math rather than understanding all the theory. Luckily, I went to Illinois State University, which has one of the best actuarial programs that I eventually joined my junior year.

What parts of the profession do you love most?

Nothing is static, which has allowed for continuous learning throughout my career.

What is the best piece of career advice you have ever received?

Be open to new experiences but don’t stretch yourself to thin. This advice has allowed me to push myself into new areas or volunteer opportunities, while gracefully leaving some I have tried that were not a good fit for me.

Why would you recommend a career in the P&C insurance industry to current college students?

At the core of insurance is the promise to make someone whole after they may have had one of the most devastating experiences in their life. If you find the right company, you will realize how you contribute to that promise and ensure future promises can be made.

What can students and early professionals do now to prepare for a career in the industry?

Beyond gaining a base understanding of terminology in the industry, I highly recommend practicing communication skills. Actuaries need to be able to explain complex topics to less-technical audiences all the time. Once of the easiest way to advance in your career is by being able to explain what you are doing and why you are doing it the way you are.


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CAS Profile: Jaime Szalewiski, FCAS

Jaime Szalewiski, FCAS, is a commercial lines pricing actuary driven by learning, collaboration, and mentorship. With prior roles as at super regional Midwest carriers as well as AmTrust, she has a strong base in building pricing tools, strengthening processes, and reviewing programs.

Where do you work and what is your position?

I am a Senior Actuary at Accelerant, a risk exchange matching MGAs with experts and capital providers.

Why did you decide to become an actuary?

I enjoyed math but did not like science. Actuarial science is consistently rated as a top occupation for job security and interesting, motivating careers, but many told me the people are boring. I found cool, extroverted college professors and friends at UW-Madison that proved them wrong and have not regretted my rewarding choice.

What parts of the profession do you love the most?

The exam process provided a clear, merit-based way to advance my career. The rigorous framework rewards persistence and discipline, as opposed to subjective judgements or background-based biases. Additionally, I enjoy creative problem-solving, the variety of my day-to-day work, and being a key park of making value-driving decisions.

What is the best piece of career advice you have ever received?

There will always be something you want to do more than passing exams, so get them done now.

Why would you recommend a career in the P&C insurance industry to current college students?

Insurance plays a vital role in our society. From protecting families’ homes to helping injured workers return to their jobs, every line of business connects to real people navigating real challenges. Learning about hurricane risk, workplace safety risks, and even the healthcare system through medical malpractice, there are always unique opportunities to learn and solve problems impacting everyday life.

What can students and early professionals do now to prepare for a career in the industry?

They can find challenging projects that push you to learn and grow. Building a strong foundation of knowledge is crucial to a successful insurance career, so do not hesitate to ask questions. Find a trusted set of experienced colleagues and mentors where you can test out ideas and offer perspectives. Above all, a great boss can really change your career trajectory and your life.


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