Predictive Modeling has been a dominant topic in actuarial science for over a decade. In 2012, Gross Consulting released Cognalysis MultiRate – a Windows-based predictive modeling application built for practicing actuaries, by practicing actuaries.
In 2018, Gross Consulting and the CAS announced that all actuarial students registered with CAS Student Central would receive a complimentary license to MultiRate, for personal, academic, or commercial use.
This year, Gross Consulting is excited to announce Version 5 of MultiRate, which will include a number of dramatic improvements to both modeling options and modeling process.
Creation of DLL for integration of final models into Excel, R, etc.
To register for the release webinar and see all the features of MultiRate Version 5 in action, go to http://www.cgconsult.com/V5
More about Cognalysis MultiRate:
MultiRate implements a predictive modeling approach based on multiplicative models, grounded in Bailey Minimum Bias, but incorporating rigorous performance testing of alternative models, incorporation of credibility, smoothing techniques, intelligent binning of continuous variables, automated model improvement and more. The result? Predictive models that are powerful, robust, implementable, intuitive, and explainable.
We believe that predictive modeling should be a part of every practicing actuary’s toolset. We also believe that being a programmer or data scientist shouldn’t be a barrier to entry for predictive modeling. Cognalysis MultiRate is a predictive modeling tool build for actuaries, by actuaries.
To see how MultiRate can help you make Predictive Modeling a part of your core toolset, join our webinar June 27 as we discuss this feature in more detail, and the rest of the new features in Cognalysis MultiRate V5.
Members of CAS Student Central, check out this exciting opportunity to attend the InsureTech Connect Student Program, sponsored by our partners at InsureTech Connect (ITC) and Gamma Iota Sigma (GIS). They invite you to submit student nominations to participate in InsureTech Connect, taking place September 23-25, 2019 in Las Vegas.
ITC will sponsor up to 20 students to attend the world’s largest insurtech event, offering unparalleled access to the most comprehensive gathering of tech entrepreneurs, investors and insurance industry executives from across the globe.
Student Program at ITC
Selected students will be invited to attend all official activities, including the Official Kick-Off Reception, Expo, daily networking receptions and the Closing Party.
Pre-conference session on Monday, September 23 with tailored programming.
A customized Student Track Agenda with recommendations will be provided for remaining programming and breakout sessions.
Throughout the conference, students will have the opportunity to network with more than 7,000 attendees expected at ITC.
Student Eligibility
Students may nominate themselves and procure the required nomination letter from a professor or industry representative, or an educational institution or member of the industry may nominate a student.
Open to full-time college/university students.
Students must be 21 years of age or older.
Nominated students must have an overall GPA of 3.0 or better.
Students must demonstrate a desire to work in the insurance industry and be interested in seeking entry-level employment in any discipline within the industry.
Special consideration will be given to students with coursework in technology or a demonstrated interest in the tech space.
Read more about eligibility, required materials, and other information at the ITC website: https://insuretechconnect.com/students. All information should be submitted via the online application form no later than Monday, July 1, 2019.
The Organization of Latino Actuaries (OLA) will be sending students and actuarial candidates to four events this year. Students are invited to apply through OLA’s website. Dates below are inclusive of travel days.
OLA will cover the following costs: Air Travel, Lodging, and registration fees. Some meals will be provided.
At each event, an OLA board member will attend the conference with you, providing a direct link to their actuarial and industry network. These events will allow you to learn more about the insurance industry and give you an opportunity to speak to a number of different actuaries about their work. ALPFA and GIS also have career fairs as part of their conference.
This is one application for all 4 events – the deadlines for each one are listed below.
SOA Health Meeting
June 23-25, 2019
Phoenix, AZ
Deadline: May 31, 2019
Winners will be notified by June 7, 2019
The Health Meeting is an annual meeting for actuaries practicing in health insurance, and has attendance of about 1,000 actuaries. You will have the opportunity to network with OLA students, members and leaders. You will attend the Candidate Connect Day that the SOA plans for students; and have an opportunity to network with actuaries at this conference.
ALPFA – Association of Latino Professionals for America
August 2-6, 2019
Nashville, TN
Deadline: June 15, 2019
Winners will be notified by July 2, 2019
The ALPFA conference has over 50 companies in attendance, including about 10 from the insurance industry.
At the ALPFA convention you will attend workshops hosted by different companies. There will also be opportunities to network with individuals at those companies as well as Latinos working in other industries. Companies are interviewing for internship and full time positions for 2020.
CAS Casualty Loss Reserving Seminar (CLRS)
September 16-18, 2019
Austin, TX
Deadline: August 15, 2019
Winners will be notified by August 28, 2019
CLRS is a conference for actuaries whose main work is setting reserves for insurance liabilities. The attendance is around 500 actuaries. You will have the opportunity to network with OLA students, members and leaders. You will attend the Student Day that the CAS plans for students; and have an opportunity to network with actuaries at this conference.
GIS – Gamma Iota Sigma
September 25-28, 2019
Dallas, TX
Deadline: August 15, 2019
Winners will be notified by August 28, 2019
GIS is a Risk Management fraternity that is tied very closely to the insurance industry. You will attend workshops on a number of topics aimed at college students. You will network with actuaries attending the conference, and be able to participate in the career fair – where companies are recruiting for internships and full time positions for 2020. In 2018, there were over 20 companies that hire entry level actuaries.
This May-June issue includes articles on: CAS President’s Message, Relations With the Society of Actuaries; What to Do When Your Results are Challenged; A View from Silicon Valley: How To Make Good on the Insurtech Promise
The Casualty Actuarial Society is pleased to offer a FREE student program at this year’s Seminar on Reinsurance in Bermuda on June 3, 2019. University students and high school seniors are invited to participate in this one-day program! The program is geared towards students interested in learning about the reinsurance field including, but not limited to, prospective actuaries.
CAS Student Program Attendees Will:
Learn More About the CAS and the Reinsurance Industry
Connect and Network with CAS Members
Attend Professional Concurrent Sessions
Participate in Student Specific Sessions including a Career Panel
There is no cost for students to register to attend the CAS Seminar on Reinsurance Student Program; attendees are only responsible for transportation to/from the one-day event.
If you would like to register to attend the CAS Student Program, please contact CAS University Engagement Manager, Tamar Gertner, at Tgertner@casact.org, to reserve your space. There are a limited number of spaces available, therefore any students that contact us after we have reached capacity will be placed on a waiting list.
The Casualty Actuarial Society is pleased to offer a FREE student program at this year’s CAS Spring Meeting in New Orleans, LA on May 21, 2019. University students interested in pursuing an actuarial career are invited to participate in this one-day program!
CAS Student Program Attendees Will:
Learn More About the CAS and the Property and Casualty Industry
Connect with CAS Members and Participate in a Speed Network Session
Attend Professional Concurrent Sessions and Student-Specific Sessions
Take Professional Headshots
There is no cost for students to register to attend the CAS Spring Meeting Student Program, attendees are only responsible for transportation to/from the one-day event.
If you would like to register to attend the CAS Spring Meeting Student Program, please contact CAS University Engagement Manager, Tamar Gertner, at Tgertner@casact.org, to reserve your space. There are a limited number of spaces available, therefore any students that contact us after we have reached capacity will be placed on a waiting list.
Time
CAS Student Program Schedule – May 21, 2019
7:15 a.m. – 8:15 a.m.
Registration and Professional Headshots (Optional)
8:15 a.m. – 9:15 a.m.
Welcome and Introduction to the CAS and P&C Industry
Do you ever want to travel to cool places around the country? Do you want to meet and network with actuarial students from other universities? Do you want the opportunity to learn about insurance from seasoned industry professionals? If you answered yes to any of these questions, you should keep reading to learn about some of the experiences we’ve had at insurance conferences throughout the United States. As Gamma Iota Sigma (GIS) officers and CAS Ambassadors at Temple University, we’ve had the privilege of attending many events where we got to learn, network, interview, and experience some of the greatest moments of our collegiate careers.
Nitai discusses his experiences attending the CAS Annual Meeting and the GIS International Conference. Jessica discusses her experiences attending a GIS chartering ceremony and Philadelphia Insurance Day. We also interviewed a fellow actuarial student, Joel Kuruvilla, about his experience attending the Risk Management Society (RIMS) Annual Conference.
CAS Annual Meeting
As a CAS Student Ambassador, I was invited by the CAS to attend the Annual Meeting in Las Vegas this past semester. For me, a big part of the conference involved networking with other ambassadors across the country and discussing ways to increase awareness of the property and casualty industry at our schools. I also got to sit in on some of the general sessions at the meeting including a talk that discussed some of the similarities and differences between actuaries and data scientists. My favorite part of the conference was a speed networking session with mentors from companies such as Travelers, AIG, and Uber (pictured above). The CAS is hosting student programs in New Orleans, Bermuda, and Austin in the next few months. Click here for more info!
Gamma Iota Sigma International Conference
Every year, GIS hosts an international conference for students from chapters across the country. The conference is packed with 3 days full of networking, speaker sessions, luncheons with AMAZING food, and a career fair with 80+ companies. Several schools also get the opportunity to have their own breakout sessions. Last year in Chicago, Temple partnered with Butler University on a session to help students increase passion for community service at their own schools. My favorite part of the conference, apart from eating all the food, was the stand-up comedy session at the end of the conference. I don’t think I’ve ever laughed so hard! This year’s meeting is from September 26th – 28th in Dallas, Texas. GIS recently started offering an at-large member category open to any college student attending a school where no GIS chapter exists. Click herefor more info on the conference and how to join if you’re not already a member!
Gamma Iota Sigma Chartering Ceremony
Being a part of an initiation ceremony for a new chapter of GIS is a unique and celebratory experience. Because the first insurance transaction involved insuring ships and cargo, the members of the initiation team serve as ship officers navigating the new candidates to membership. The ceremony also includes a speech from the president of the new chapter detailing the chapter’s goals as well as a speech from a student of an active chapter discussing the benefits of membership. Additionally, students from the new chapter have an opportunity to meet and interact with students from active chapters. Discussions include ways to operate a new chapter, increase membership, and gain experiences to develop professionally. These conversations provide new members with a network of students to reach out to regarding GIS. Initiated on Thursday, April 18th, 2019, the newest chapter is the Gamma Lambda chapter at the University of Illinois at Urbana-Champaign.
Philadelphia Insurance Day
Every spring, The Insurance Society of Philadelphia partners with The CPCU Philadelphia Chapter to offer a full day of education and networking with insurance, risk management, and actuarial science professionals. This year’s keynote speakers were Inaki Berenguer, the CEO of CoverWallet, Mark Purowitz, a senior partner at Deloitte Consulting LLP, and Jonathan Kalman, founding partner of Eos Venture Partners. Their panel discussion centered around the future of insurtech. Expert sessions continued throughout the day on topics such as active shooter policies and current niche insurtech examples. As an attendee of this event, I can say the speakers were very captivating and genuinely made me enthusiastic about a future career in insurance. Click herefor more info!
RIMS Annual Conference and Exhibition
To learn more about RIMS, we interviewed Joel Kuruvilla (pictured far left), a junior actuarial science major who attended the RIMS conference last year along with several other students from Temple. He stated that the RIMS conference was one of the highlights of his time in college because he had the opportunity to see some of the newest technological innovations that insurance companies have to offer, with his favorite being virtual reality software. Other technologies included a health instrument that measures how firm a person’s grip is relative to that of other people of the same age and gender. Apart from the technology, Joel also enjoyed sitting in on several breakout sessions such as a diversity and inclusion roundtable and a presentation on cyber security. Finally, Joel loved touring San Antonio and meeting students from other schools across the country. “I met students that I saw at future conferences and in New York during my summer internship. RIMS helped me make meaningful, lasting connections, and I’m very thankful for that.” This year’s meeting is in Boston from April 28th – May 1st, and Jessica will be in attendance! Click here for more info!
We hope you enjoyed reading about all the cool events we’ve been to, and we hope to see you at one in the future!
Nitai Patel and Jessica Zimmerman are both seniors at Temple University. Nitai is majoring in Actuarial Science, and Jessica is double majoring in Actuarial Science and Risk Management and Insurance. In addition to being CAS Student Ambassadors for Temple University, they both serve as officers of Temple University’s GIS chapter, where Nitai is Director of Management Information Systems, and Jessica is Director of Student Affairs.
Registration Now Open for CAS Student Central Webinar: A Day in the Life of a P&C Actuary
The CAS is hosting a webinar for Student Central members entitled, “A Day in the Life of a Property and Casualty Actuary.” The one-hour webinar will take place on May 2 at 3 p.m. ET and will feature speakers with significant actuarial experience.
Agenda
What a workday looks like for entry-level ratemaking and reserving actuaries
Similarities and differences between working at a consulting company vs. an insurance company
Detailed ratemaking and reserving examples to illustrate for students the types of real-life projects they can expect to encounter on the job
Registration is free and open to CAS Student Central Members.Not yet a member? Sign up today!
Presenters
Timothy Vosicky, FCAS, MAAA, Consulting Actuary, Milliman Tim is a Consulting Actuary in Milliman’s Chicago office. His clients include large deductible and self-insured corporations, local and national healthcare providers and public entities. His primary focus is in workers’ compensation, general liability, commercial auto liability and medical professional liability but has also worked with warranty, asbestos, E&O and property. Tim earned a B.S. in Actuarial Science from the University of Illinois at Urbana-Champaign in 2010, and he’s a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. He also serves on the Casualty Actuarial Society’s Exam Committee.
Richard Moncher, FCAS, MAAA, Director – Pricing, USAA Rich leads Property Pricing’s Northeast Region for USAA, where he’s responsible for rate adequacy and equity for Homeowners, Renters and Rental Property Insurance.Prior to joining USAA, Rich led Farmers Personal Lines Actuarial Team and prior to that, he led Bristol West’s Actuarial Team. In both of those roles, Rich had responsibilities for pricing, reserving and modeling, especially streamlining and enhancing those processes. He also expanded profitability and reserving analyses to additional states, products, companies, channels and LOBs. Prior to Bristol West, Rich projected IBNR reserves for workers compensation residual markets and coordinated, presented and defended state filings at NCCI. Prior to NCCI, Rich priced specialty lines insurance and reserved for loss, LAE, dividends, audit and retrospective premiums at the Hartford.
Rich earned a B.S. in Mathematics from Penn State, and he’s a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.
The Casualty Actuarial Society is pleased to offer a FREE student program at this year’s Seminar on Reinsurance in Bermuda on June 3, 2019. University students and high school seniors are invited to participate in this one-day program! The program is geared towards students interested in learning about the reinsurance field including, but not limited to, prospective actuaries.
The Casualty Actuarial Society is pleased to offer a FREE student program at this year’s 
There is no cost for students to register to attend the CAS Spring Meeting Student Program, attendees are only responsible for transportation to/from the one-day event.
Registration Now Open for CAS Student Central Webinar: A Day in the Life of a P&C Actuary