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Jason Rutten is a Senior Actuarial Consultant at Travelers. After starting in an underwriting role at Travelers  Jason transitioned to actuarial work.

Where do you work and what is your position?

I work in St. Paul, MN, at Travelers as a Senior Actuarial Consultant supporting Small Commercial Auto.

Where did you attend college?

University of Minnesota – Twin Cities.

Why did you decide to become an actuary?

Honestly, it was a long journey with a bit of luck at the end. I graduated with a degree in Mathematics, eventually passing four SOA exams but struggling to build a career after graduating. I spent a lot of time working in retail management before finally landing an opportunity to switch into insurance. I worked at Travelers in an Underwriting Support role for a little over a year, and while looking at many possible career paths, an entry level actuarial role opened up and I’ve been in this profession ever since.

What aspects of the field do you love?

The community is by far the best I have ever worked in. I have made many great connections with amazing people, both actuaries and business partners in other areas. Some have been mentors, and I have even been able to mentor others as well. Individual successes are celebrated across our whole group, and that is something I haven’t found in other industries that I have been a part of.

Besides the people, I love that there are many diverse opportunities to learn and grow. For example, I supported a large project analyzing profitability on a specific market segment with an opportunity to present to Underwriting Leadership. I have also led efforts in smaller groups to create comprehensive documentation on processes and business needs, solving actuarial workflow problems on repeated processes. Every project I work on gives me something new to learn, and that keeps me excited to come to work in the morning.

What is the best career advice you have ever received?

Make your own opportunities. If you are unhappy in your current situation, you are responsible for making the changes needed to get to a better one.

Do you have any advice for those just starting out?

Spend time networking and learn how to make real connections with people. Communication and soft skills are an important part of the job when working with different groups and business partners. Learning different ways to communicate with people will pay dividends for your entire career.

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

I think it’s a great industry because of the variety of backgrounds you can find. People I know in my company have degrees in math, business, economics, or even library science (among many others). Additionally, it is relatively easy to switch career tracks as you learn and develop new skills. This provides a ton of opportunity for those who are willing to seek it out.

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

Don’t rush through exams until you know where you are going to work. I spent a lot of time and money studying for exams when I would have been better off learning how to network, apply, and interview. The first exam I took with company support was so much easier and less expensive than I realized.

Mindy Moss, FCAS, is a Manage Actuary at Allstate Insurance and an active member of the CAS. Currently, she serves on both the Candidate Advocate Working Group and the Admissions Governance Council.

Where do you work and what is your position?

I work as a Managing Actuary at Allstate Insurance. My team focuses heavily on technology – ensuring that Pricing and Modeling can do their work effectively and efficiently. In other words, I get to code all the time, which I love!

Where did you attend college?

Binghamton University.

Why did you decide to become an actuary?

After changing my major for the third time (and still not being happy with where I landed), I decided to take a few years off. During my time away from school, I realized two important things: 1) I wanted a steady, reliable job, and 2) I love math. My husband was the person to tell me about Actuarial Science, and it seemed to fit!

What aspects of the field do you love?

I love the wide breadth of opportunities available for actuaries. I’ve held traditional pricing roles, modeling roles, and even worked in Dynamic Financial Analysis for a short time! Now I’m in a highly technical actuarial role. The actuarial field has something for everyone – whether you’re interested in presenting to the business or working on complex models.

What is the best career advice you have ever received?

Coming into my tenth year of working full-time as an actuary, I’ve received a plethora of career advice. And honestly, different nuggets of advice have served me at varying times. For example, as a new analyst, the best piece of advice I received was  “heads-down, focus on exams.” This allowed me to prioritize my study hours without feeling guilty.

During COVID, the best piece of advice I heard was “it’s just insurance.” This allowed me to focus on my family when I needed to (while still getting my work done, but not overly stressing about it).

Currently, my favorite piece of career advice is to “define your personal brand, or others will.” I’ve worked the last few years on crafting my personal brand and making sure I’m living into it. This is almost certainly how I’m in my technical role now, and it helps me stay focused on what’s important to me.

Do you have any advice for those just starting out?

Try new things! If your employer has a rotational program, take advantage of that to work in as many areas as possible. If you don’t have the opportunity to rotate, try new approaches to problems or have a side passion project. You’ll probably find some work that you never want to do again, but you may also find something that you love.

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

In my opinion, there are two major pros of working in the P&C insurance industry as an actuary: 1) We are always innovating. This allows you to try new things at work (and there’s never a dull moment). 2) Actuaries are very highly regarded in P&C. Since actuaries are insurance experts, I’ve seen them go on to become State Managers, Product Managers, EVPs, and even CEOs.

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

Aside from the obvious “take an exam or two” advice, I highly recommend that students take at least one programming class (I honestly wish I had double majored in Computer Science & Actuarial Science). Even if it’s a class for a language you may not use at work, the fundamentals of programming remain the same. In addition, if you can find some basic introductions to insurance principles, that will give you a huge advantage when you start working full-time. College will teach you the math, but not all schools teach the fundamentals of insurance.

David Idoux, FCAS, is an active member of the CAS and an actuary at USAA. He has contributed to CAS publications, including   graduate of Southern Illinois University – Edwardsville.

Where do you work and what is your position?

I am an Actuary Lead at USAA working in Pricing Modernization.

Where did you attend college?

I studied Mathematics at Southern Illinois University – Edwardsville.

Why did you decide to become an actuary?

I always knew that I wanted to do something math-related, so when I discovered the actuary career path, it seemed like a natural fit. I was immediately drawn to the idea of professional development and continuous growth through the exam pathway. Getting raises for passing exams doesn’t hurt, either!

What aspects of the field do you love?

My favorite part of being an actuary is the variety. There are so many different types of actuaries, even just on the P&C side. I truly enjoy connecting with other people in the field and learning more about their day-to-day life.

What is the best career advice you have ever received?

Never stop learning. If you’re not constantly learning new things then it’s probably time to make a change. Everyone you meet, even non-actuaries, has something to teach you if you stay open to that possibility.

Do you have any advice for those just starting out?

Make an effort to get to know your colleagues and professional connections on a personal level. This actuarial community is a lot smaller than many realize! You never know who might become your boss one day… But in all seriousness, I have found that my professional career has been enhanced by the genuine personal connections that I’ve made along the way.

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

The P&C industry is constantly changing! We’re on the cutting edge of predictive analytics, leveraging massive datasets to deliver insights to our stakeholders, and building really cool things! If you like solving problems, this is the industry to get into.

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

Something that will really set a new analyst apart from the rest of the field is clear and crisp communication skills. Yes, technical ability is crucial, but understanding how to communicate with your stakeholders is going to propel your career to new heights. A student that can perform an analysis, create a slide deck with simple and concise content, and then give an easy-to-understand presentation on the key findings of the analysis will always go far.

 

[MB1]https://www.casact.org/newsletter/future-fellows/2024/december

Jianyu Chen, FCAS, is a dynamic actuarial professional who began her career as a math teacher before transitioning into the insurance industry. Jianyu now applies her expertise in portfolio analytics as an actuary at Zurich North America. She attended college at New York University and earned her graduate degree at Columbia University.

Where do you work and what is your position?

I work at Zurich North America as an actuary on the Portfolio Analytics team.

Why did you decide to become an actuary?

I pivoted into the actuarial field from teaching six years ago because it offers a strong work-life balance, excellent career growth opportunities, and the ability to collaborate with others while applying my mathematical and thinking skills.

What aspects of the field do you love?

I love that the P&C actuarial profession is constantly evolving, presenting new challenges and opportunities for growth. There are so many different roles within actuarial to choose from, from the more traditional roles like pricing and reserving, to non-traditional roles like enterprise risk management and technical underwriting. The dynamic nature of the industry keeps the actuarial work engaging and rewarding, no matter what actuarial role you are in.

What is the best career advice you have ever received?

Don’t rely on just one mentor – build a network of mentors and seek guidance from different people based on the questions and challenges you face.

Do you have any advice for those just starting out?

Stay focused on your long-term career goals and keep moving in the direction you want. Don’t get caught up in the small setbacks along the way.

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

The P&C insurance industry offers a unique combination of stability and innovation. It plays a critical role in managing risks like climate change and cybersecurity, providing both exciting challenges and opportunities for growth. For those who enjoy problem-solving, data analysis, and collaboration, it’s a rewarding field with strong career development, job security, and a great work-life balance.

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

Start learning about the P&C industry by reading articles and staying updated on industry trends and developments.

Two great free online resources for industry insights are CAS’ Actuarial Review  and the Insurance Information Institute. These platforms provide valuable information on the industry and the latest trends and news in the P&C actuarial profession, helping you build a strong understanding of the industry as you start your career.