CAS Profile: Jim Arns, ACAS, MAAA
University: The University of Iowa
Current Employer/Title: Deloitte Consulting LLP – P&C Actuarial Senior Manager
Why would you recommend a career in the insurance industry to current college students?
Insurance is an industry with a lot of opportunities. Almost every individual and business in the US is required to have insurance. Insurance provides piece of mind to ensure individuals and businesses can operate while being protected in the event of a loss. Within insurance, actuaries fill not only actuarial roles but roles within Underwriting, Claims, Finance, and I have even seen Marketing! Actuaries within Insurance are highly appreciated and leveraged!
Why did you become an actuary?
In High School I began to explore careers. I knew I was good at math and wanted a career that incorporated math. I explored Accounting, Finance, and Actuarial Science. In looking at the different paths, Actuarial Science stood out to me. It was known as one of the top professions and allowed for a lot of growth. To this day, I do not regret my decision.
What drew you to a career in property and casualty insurance?
The variety of work. If you think about the actuarial world, Health actuaries work on Health Insurance, Life actuaries work with Life insurance, and Retirement actuaries deal with Retirement, P&C does everything else. One day you can be working on Personal Auto, the next day Workers’ Compensation, and the day after, Asbestos & Environmental. The variety of P&C Insurance will always ensure you will never be bored!
What can students do now to prepare for a career in the industry?
Keep current on issues impacting the industry. One thing I stress to my staff is to not only understand what clients are doing but what macro issues exist that can affect them. This will help you become a future leader!