CAS Profile: Susana Gisele Zelaya

Susana Gisele Zelaya, FCAS, FCIA, works as an Actuary at ICBC in the Product Pricing Team. She graduated from Université du Québec à Montréal (UQAM) with a bachelor degree in actuarial sciences. Born in El Salvador, her parents moved to Canada where she grew up as French Canadian and recently moved to British Columbia. She recognizes her background as being an advantage and now wants to encourage more diversity in the P&C industry.

Why would you recommend a career in the insurance industry to current college students?
Why would I not? The insurance industry is in constant evolution. In the past few years, the industry has been coming up with new ways to provide and sell insurance, it has been immersed in the world of big data and predictive analytics and keeps on releasing products that better corresponds to the new and increasing needs of customers. This industry is even gaining more and more attention from outsider companies such as Tesla and Amazon. Not only that, the recent pandemic has shown us that the insurance industry provides a safe and stable work environment as many countries deemed it an “essential business” and many organizations quickly pivoted to a work-from-home model.

Why did you become an actuary?
I always had good grades at school and I particularly enjoyed math and science. As many children from immigrant parents have experienced, the career options that were often proposed to me were the classics: doctor, lawyer, engineer, or accountant. Ugh! So boring. One day my math teacher talked about actuaries and the fact that no one around me seemed to know what it was just got me hooked. Don’t worry, I did some research after that and got attracted by how actuaries used math and applied them to real-life issues. Also, the fact that you have to go through a series of exams to obtain your designation appealed to my goal-driven competitive side.

What drew you to a career in property and casualty insurance?
Even through my research of “what is actuary?” I was quickly drawn to the P&C industry because of the range of risks that can be covered. Knowing that actuaries could predict the cost of a natural catastrophe or how much it costs to rebuild a house burned down by fire seemed pretty cool to me. But it was really getting my first internship with a P&C company that cemented my choice. I really loved the atmosphere at work and how much I learned in such a short amount of time that I just couldn’t get away from that.

What can students do now to prepare for a career in the industry?
Learn how to communicate your results to non-technical audiences. It is harder to do than you think and the sooner you learn, the better. Actuaries tend to build great models or perform intricated analysis, but often fail to clearly communicate the result and impacts to others. Another suggestion is to learn to code in as many languages as possible. This skill will be particularly useful in your first few years working as an actuary.


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CAS Releases Results of Career and Workplace Survey

Today CAS released results from a comprehensive survey of members of CAS Student Central, the CAS’s membership program for university students, to provide insight into virtual recruitment practices. The survey, released in infographic form, provides key information for actuarial hiring managers, candidate program coordinators, and recruiters about the career preferences for the actuarial talent pipeline. The survey pulls on responses from 362 participants from 105 universities and covers a variety of recruitment topics, including recruitment in a virtual world, what students are seeking from employers in the current environment, and more.


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CAS Profile: Denise Olson

My name is Denise Olson. I currently work at Zurich North America as the Head of New Programs leading a cross functional due diligence team. I graduated from the University of Nebraska – Lincoln (Go Big Red!) with a double major in Actuarial Science and Math. In my 30-year career, I’ve spent about 20 years as a pricing actuary. The other 10 years, I’ve been in multiple non-actuarial roles including underwriting, product development and leading a large systems project. I am a Fellow of the Casualty Actuarial Society (FCAS) and Chartered Property Casualty Underwriter (CPCU).

Why would you recommend a career in the insurance industry to current college students?
Insurance is endlessly fascinating and constantly changing. During my career, I’ve worked on taxis, crop insurance, lawyers professional liability and entertainment insurance just to name a few. There is no end to the variety of roles and types of insurance to learn about.

Why did you become an actuary?
From a very early age, I knew that math was my strongest and favorite subject. As I entered high school, I really didn’t know what I could do with a math major, but knew it was my passion. I talked with my high school calculus teacher and told her I knew I didn’t want to teach. She suggested Actuarial Science. Since I grew up in Nebraska and UNL has such a strong Actuarial Science program, my future was decided. Talk about a life changing 10-minute conversation.

Why did you take a non-actuarial role?
I was fortunate to work with another actuary who moved into a business lead position and thought I’d really like to try that if the right opportunity came along. I was terrified to move into my first underwriting manager role, but knew that I could fall back on my actuarial background if it didn’t work out. Taking that risk has paid off in so many ways for me.

What drew you to a career in property and casualty insurance?
I had no idea that Property and Casualty Insurance even existed when I was in college. We had a very Life/Health heavy curriculum. When I interviewed on campus for full time positions (back before the days of lots of internships), I interviewed with CNA in Chicago. They had a life division and I asked to be placed there when they made me an offer, but they said the offer was only for P&C. My thinking was that at worst, I could switch to Life/Health later if I wanted to. My first pricing role was in Entertainment Insurance and I was hooked on day 1 when I read the underwriting guidelines.

What can students do now to prepare for a career in the industry?
First, be curious – what questions do you have about every situation? Ask. Ask more than one source. Meet people that aren’t like you to find out their perspective. Go deep on what interests you and never stop learning. Second, learn how to communicate in a simple, straightforward way without using technical jargon. I used to practice explaining concepts to my mother, who is a retired dental assistant. No one cares about all the hours you spent or the details of how you did something. They want to know what they should do with the information you’re providing. Finally, learn to fail. You will make mistakes. How will you learn from them? What can you do better next time? How resilient can you be?


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CAS Student Central Releases Fall 2020 Webinar Recording: Excel and R for Actuaries!

CAS Student Central is excited to present Excel and R for Actuaries as this semester’s CAS Student Central webinar! This pre-recorded 90-minute webinar covers a variety of common uses and functions relevant to each software package while utilizing real data from the CAS Personal Property Auto Data Set.

Learn how to build and explore loss development triangles using the popular “tidyverse” suite of R packages, and obtain an overview of some essential Microsoft Excel functions and techniques for data exploration, including SUMIFS/COUNTIFS, IF statements, VLOOKUP, and PivotTables.

Meet the Presenters

Brian Fannin, ACAS, CSPA, MAAA has been an actuary for over 20 years. Brian has been Associate of the CAS since 2002 and a Certified Specialist in Predictive Analytics since 2017. He has worked in a variety of roles in commercial insurance, both primary and excess, here in the US as well as Europe, London and Asia. An early proponent of R, he has taught various workshops and seminars for the CAS, Actex and insurance clients. He joined the staff of the CAS in March of 2018 as Research Actuary. His focus is to enable CAS committees and research partners to work efficiently in developing relevant, practical content.

Jaris Wicklund, FCAS, MAAA is a Lead Pricing Actuary for Personal Lines at The Hanover Insurance Group, where he has worked for 13 years in a variety of actuarial and non-actuarial roles.  He has been a CAS volunteer since attaining his Fellowship in 2015, and is currently the vice chair of the University Engagement Committee.  Jaris is a graduate of Worcester Polytechnic Institute and lives in Acton, MA with his wife, Jaime, and their 13-month-old son, James.

To expand your knowledge and sharpen your skills in Excel and R, access the webinar recording now!


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Making the Most of Your College Experience as an Actuarial Science Student

Shobana Iyer, Purdue University

Starting your college education can be daunting for a variety of reasons. You’re introduced to a brand-new environment and exposed to endless new opportunities. When you add a tough line of study like actuarial science to the mix you can become overwhelmed pretty quickly. Some students avoid pursuing this major because they think they will miss out on the excitement of college, but hopefully by the end of this blog post I can convince you that attending college while studying actuarial science is an experience well worth the effort.

I have found that often as freshmen we have a generic idea of what the actuarial science major entails, and refer to BeAnActuary.org for any clarification. However, there is a world of resources that exist to support actuarial students including actuarial clubs, fraternities, and many other established organizations within our campuses that provide convenient and immediate information. One of the biggest benefits of joining one of these organizations is that you get the opportunity to directly interact with other actuarial students who have a diverse set of experiences to learn from.

One of the best decisions I have made in college has been to run for a board position in my university’s actuarial club my freshman year. Writing this out now, I recall how challenging this was for me two years ago. Back then, my negative mindset made me think that being on the board as a freshman could only happen in my dreams. Little did I know that after I was elected into that position, my involvement in the actuarial department at my school would completely transform my college experience for the better. It inspired me to interact with more of my fellow actuarial science students and understand that networking isn’t as terrifying as we make it out to be, and actually quite fun.  Most importantly, it taught me that anything is possible as long as I give it a chance.

Below is a list of ideas of how you can get involved on campus to better your college experience. However, as all universities are different, I recommend you go beyond this list and start researching what your school offers! Oftentimes the easiest thing to do is send an email to a club board member and ask for advice or clarification. They can help you get connected and even inspire you to run for a board position! I can assure you, it is well worth it if you are truly passionate about your major.

Ways to get involved:

  • Research and join your university’s actuarial club (and/or fraternity, as well as any related organization)
  • If your university doesn’t have an actuarial club or fraternity, start one! The insurance specific fraternity, Gamma Iota Sigma, has numerous resources available to help you start your own chapter. Apply/run to be on the board for clubs that pertain to your interests and you are passionate about
  • Interact with fellow actuarial students to see how they are involved
  • Communicate with companies and network via LinkedIn, club events, conferences, etc.
  • Form study groups/group messages with other students in your classes

** Bonus: To have a great college experience holistically, you have to remind yourself of your outside interests as well, so don’t forget to be involved in other extracurriculars besides those that have to do with your major!

In conclusion, don’t be afraid to take chances and increase your involvement on campus! Not everything may be “your cup of tea” but finding those activities you do enjoy will help you grow closer to the best version of yourself!


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Being Out, Open and Proud in the Workplace

Matt Gentile, FCAS, MAAA (He/Him)

It was my junior year of college when I finally decided to text my best friend one night, “I’m gay.” Though it was a freeing experience, I knew I’d have more choices to make about coming out going forward. During my first internship, I really wanted to receive a fulltime offer that would help make my senior year much less stressful, so I made it a goal to hide my sexuality. Everything I said and did was calculated, in hopes that I would “cover” my identity. I justified being “in the closet” because I didn’t know who was making the final decision and their views on the LGBTQ+ community.

When I returned to the UConn campus that fall, I focused on starting to fully embrace my identity. I had my first boyfriend who really pushed me to be my authentic self. I held his hand in public. I proudly told people I was a gay male, and I didn’t let the nerves win. This led me to begin challenging the idea of being closeted at work. I began to realize that if a company didn’t embrace the unique perspective I was bringing to the workplace, then ultimately they didn’t deserve to have me on board.

I received a return offer and started my actuarial career in June 2014. This time, I went into the office with a renewed perspective. I decorated my desk from day one to show my love for my community. I had rainbow flags at my desk, a Little Mermaid statue (my favorite Disney princess, of course), and signs that reminded me to be proud of who I am.

I won’t pretend that every day was easy. There were times where I felt excluded from the office conversations between all the straight men, and I really wanted to fit in. The few times I brought up topics that interested me, I felt looks come my way. In fact, one of my straight male coworkers told me how uncomfortable he was when I chose “Who is your favorite Disney princess?” as our team’s question of the week. I quickly turned this back on him and let him know that our weekly conversations about the New England Patriots made me feel similar, and I think a light bulb went on for him.

It wasn’t until I left my first company that I really became passionate about making the insurance industry and the actuarial profession a place where LGBTQ+ individuals can thrive. At that company, I took a role to lead the LGBTQ+ employee resource group (ERG) and consistently pushed for educational opportunities that helped better the organization. I was met with support from my direct management and the company as a whole. I have met so many amazing people that are members of the community and allies that make me realize how comfortable I am being myself in this profession.

A few months ago, I started a third new job. When I was interviewing, I made sure to reference my partner and the work I had done with the Pride ERG. I wanted to make sure that this was a company I would feel comfortable working for. When the hiring manager started asking questions about my work with Pride and my partner, I knew this was the right fit for me!

Starting a job and a new career can be daunting. Being a member of the LGBTQ+ community can make this even more challenging. Since this is often a facet of our identity that is not visible, we are faced with a decision about being our authentic self. And though it is hard to be LGBTQ+ in the insurance industry at times, I don’t at all regret being out, open, and proud. Below are some tips and tricks that I live by and might be helpful for others!

  1. It is okay to bring your authentic self to work each and every day, if you feel safe doing so. (I don’t hide my sexuality, piercings, tattoos, etc.)
  2. You can factor in whether a workplace will be accepting of your identity when you decide to accept an offer of employment.
  3. Accept that the LGBTQ+ community is often not fully understood, and what might feel like an attack by someone outside could be used as a teaching moment.
  4. Know that there are so many wonderful LGBTQ+ actuaries and allies out there to speak with. You are not alone!
  5. Speak to a member of the LGBTQ+ community in the profession about their own experience, because each one is sure to be different.
  6. Become a member of the Sexuality and Gender Alliance of Actuaries (SAGAA). This group is there as a resource for LGBTQ+ actuaries and allies. SAGAA has a Linkedin page (https://www.linkedin.com/company/sagaactuaries/), an Instagram handle (https://www.instagram.com/sagaactuaries/) and a website (https://www.sagaactuaries.org/) that will be launching soon!

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Complete the CAS Survey on Virtual Recruitment Practices!

Attention Student Central Members: Please Complete the CAS Survey on Virtual Recruitment Practices

The Casualty Actuarial Society (CAS) needs your help! We have created a survey that will help better inform companies, recruiters, and other industry professionals about what you and your fellow classmates are looking for in their future employer or internship. The questions ask about your experience with virtual interviews, virtual career fairs, evaluating potential employers, and more.

You have unique insights into the needs that exist for future actuaries looking at the next phase of their career.

Please take a few minutes to respond to the survey by clicking on the link below and completing the survey no later than October 22nd.The survey should take approximately 10 to 15 minutes to complete. To thank you for your input, you will have the option to enter a raffle to win one of five $50 AmEx gift cards.

Access the survey here: https://www.surveymonkey.com/r/CSXCPRM

Thank you in advance for your time and insights. This survey is open to all university students.


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