Get to Know the CAS Trust Scholarship Recipients

The CAS Trust Scholarship Committee is pleased to announce this year’s winners of the CAS Trust Scholarship: Ann Pogrebitskiy, Kristen Marshall and Adam Lathan.

Ann_Trust-ScholarshipAnn Pogrebitskiy, a junior at The University of Nebraska – Lincoln double majoring in actuarial science and finance and minoring in computer science, mathematics, and statistics, is this year’s recipient of the $10,000 CAS Trust Scholarship.

“I am incredibly honored to be selected as one of the scholarship recipients this year,” she said. Pogrebitskiy is currently interning at Cigna, within the Group Healthcare Expense Pricing sector. Her internship allows her to analyze the expense allocation factors to determine how expenses are included in group case premiums, as well as communicate with various matrix partners to learn how financial reporting currently allocates expenses. “Becoming an Actuary is no easy feat, but having the support of an organization like the CAS simplifies the process and makes a complicated career path understandable. I have worked very hard to get to where I am today, and this award means that I am heading in the right direction. I hope that winning this award inspires other young aspiring actuaries to take the chances they think are impossible.”

Marshall_Trust-ScholarshipKristen Marshall, a senior at Illinois State University working towards a major in actuarial science and a minor in risk management & insurance, has been awarded a $5,000 CAS Trust Scholarship.  “As an aspiring Fellow of the Casualty Actuarial Society, I am truly honored to be chosen as one of the recipients of the prestigious CAS Trust Scholarship. I am blown away by the generous support from the industry through scholarships, internships, and conferences that foster the next generation of leaders,” Marshall said. Senior year, Marshall will serve as Co-President of the Actuarial Club and Treasurer of Christian Business Leaders. Throughout the remainder of her college career, she will continue to gain experience through her internship at Pinnacle Actuarial Resources, where she has accepted a full-time offer after graduation. “I look forward to the opportunity to meet actuaries from across the nation at the Annual Meeting in the fall. For my senior year at Illinois State University, I am excited to help improve participation in the Actuarial Club and to pay it forward by taking the time to help younger students find their way in the competitive field of actuarial science. Finally, I would like to thank my family, co-workers, professors, and classmates who supported me in pursuing my passion.”

Adam Lathan is an actuarial science, data analytics, and information systems major, and rising junior at Drake University. He has been awarded a $5,000 CAS Trust Scholarship. “I am incredibly honored to be selected as one of the scholarship recipients this year,” Lathan said. Lathan recently completed an actuarial internship at the Iowa Farm Bureau where he contributed to the creation of automated reporting tools to be used across multiple departments, as well as worked on automation, reducing runtime by over 50%, or roughly 20 hours. Prior to his internship at the Farm Bureau, Lathan worked as a project associate at Bridge Solutions, studying historical pricing methods for microinsurance products, among other tasks. “Receiving this scholarship helps me with more than just paying for school—it gives me the confidence of knowing that there is a wealth of support and resources for aspiring actuaries like myself.”

To learn more about the CAS Trust Scholarship, and to apply for next year, be on the lookout for the 2018-2019 announcement and application! Coming soon – fall 2018.


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Actuaries Working Abroad

Future Fellows: What was your career path prior to working abroad?

Celeste Bremen: After graduating from University of Pennsylvania with a degree in Economics from the business school, I started my career with Zurich North America, in a Reserving function.

Lucia Batista: I did three internships during my time in college, with the last one being with a P&C insurer. After graduation, I worked for that insurer in North America for over 4 years, for most of this time in Pricing, but also in the Corporate team for 6 months.

Future Fellows: What prompted your decision to work abroad?

Celeste Bremen: I was always interested in international experiences. While I had an opportunity to travel quite extensively during college, I felt that I wanted an even more immersive international experience of living and working abroad. I’ve even taken language courses to prepare myself for such an opportunity. So when I heard that Zurich had a 2-year international rotation program, I couldn’t pass up that chance and applied.

Lucia Batista: I’ve always wanted to work in Europe at some point in my career, for both professional and personal reasons. My initial plan was to get my FCAS first, then explore opportunities in Europe. However, when I got the chance to work in Spain, I just couldn’t say no! While it may sound like a cliché, I think I felt a little too comfortable in Montreal given the work I was doing, and I wanted to get out of my comfort zone and try new things. I felt I needed that for my own development and growth.

Future Fellows: What has your experience been like so far in this role?

Celeste Bremen: I moved to São Paulo almost a year ago and am about half way done with my international rotation program. While I worked in a reserving role back in the US, I joined a pricing team when I arrived in Brazil. Besides having to adjust to a new team and work tasks, I’ve also had to get used to some of the cultural differences. The work environment here is much more collaborative and encourages more frequent personal interactions. While my coworkers back in the US would email me if they had a question, here my coworkers just come up to my desk to ask that question. We also don’t have cubes in the office, which makes the work setting so much more different from what I was used to back home.

Lucia Batista: I moved to Barcelona 8 months ago and I am currently working in pricing. Although one could think that is the same role I had before, the experience is very different. Not only have I moved from one country to another, but I’ve also changed employers as well. Although actuarial concepts are the same, the market is very different, and therefore the application of concepts does vary. I find myself thinking about the logic behind some analyses that back in Canada were done without much thought. This is one of the things that I like the most about my new role – I have to constantly think and make sure that what I am doing makes sense actuarially. The role is also a bit different from back home. Over here, the actuarial team works a lot with other departments, while back home we were a bit more isolated. Whereas the technical part is a bit more developed in Montreal, the actuaries in Spain have a lot more business and market knowledge. The cultural difference that is taking me a long time to adjust to is not work related…it is lunch time! People usually have lunch past 2pm…and the break lasts for almost an hour and a half! The first few days I was starving!

Future Fellows: How are you handling taking actuarial exams while adjusting to a new work environment?

Celeste Bremen: São Paulo doesn’t have any CAS testing locations, so I have to travel to Buenos Aires, which is a 2.5-hour flight away, to sit for my exams. I’ve done it for the first time this past fall and it definitely made the experience a bit more challenging. This gave me a new perspective on the benefits of the TBE and I look forward  to it being implemented for more exams in the future!

Lucia Batista: My current colleagues don’t emphasize their exam passing as much as some of my previous co-workers, and the current study program is definitely not as generous as the one back home. Therefore, I have to be a lot more self-disciplined to pass exams here. It is definitely harder!

Future Fellows: What about social setting? How are you adjusting to living abroad while also handling new work experiences & exam prep? 

Celeste Bremen: As back home, it’s all about managing your time effectively. I’ve always enjoyed jiu-jitsu and was able to meet people through it in Brazil as well.

Lucia Batista: When I moved to Barcelona last August, I didn’t have any fall exams remaining, which gave me some time to adjust before having to start studying again. That helped a lot with the settling down!

Future Fellows: What experiences do you think helped you prepare for working abroad?

Celeste Bremen: Learning Portuguese back in the US! But also keeping an open mind and trying to be positive and adaptable to help navigate a new environment.

Lucia Batista: I think it was helpful to fully understand what I was doing at work, so I was able to apply my knowledge in other situations. This sounds obvious, but I feel like sometimes we do some work mechanically, without fully thinking if it makes sense, is correct or can be done differently. These elements combined with “thinking outside of the box”, helped me a lot in the transition.

Future Fellows: What are your plans for your career in the future?

Celeste Bremen: Being almost half way done through my international rotation, I’m really looking forward to shifting my work focus from primarily learning to application and decision making. I’m excited for new interesting projects that are to come in the next year. I’m not exactly sure what’s in store after the rotation program ends but I know that I definitely learned a lot about a different area of actuarial work as well as a new market that I hope to take with me wherever I end up in my career.

Lucia Batista: For now, I would like to stay in my current position, as I still have a lot to learn about pricing techniques and the Spanish market. I first thought that I’ll spend 2-3 years in Spain before coming back home, but at this point I don’t know for sure if/when I will return to Canada. I plan to grow both personally and professionally from what I am experiencing now in my current role and location, and only time can tell if I will stay in Spain, go back to Canada, or go work somewhere else. But wherever I will be, I definitely would like to get my FCAS!

Future Fellows: What advice would you give to the Future Fellowreaders who are interested in working abroad? When in their career would you recommend they do that?              

Celeste Bremen: Being able to spend the past year working abroad was such a rewarding experience for me and I would highly recommend it to anyone, if they are interested in such an opportunity. There is a lot of to learn and to adjust to if you decide to work abroad, but the benefits you gain from it, both professionally and personally, outweigh the challenges that you may experience in the beginning. If you are thinking of working abroad, don’t let the fact that you are still taking CAS exams deter you: it’s definitely possible to keep successfully taking them in the new environment as well. Talk to other people who worked abroad to gain additional perspective on the experience and apply!

Lucia Batista: DO IT! It is definitely something I do not regret, and I believe it’s a great experience, even if you might not see the benefits of it right away. On one side, I would say it is better to do it after attaining your fellowship, since you do not have to worry about studying and can enjoy the new experience fully. But on the other side, it might also be easier to do it while you are still young and do not have to make the big move with a family and kids, which could get a bit more complicated. Thus, I do not feel there is an ideal time to do it: if the opportunity presents itself, you never know if it will come around again…so grab it!

Thank you so much Celeste and Lucia for sharing your experiences with us!


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Announcing the Winners of the 2018 CAS Trust Scholarship

The CAS is pleased to announce the winners of the 2018 CAS Trust Scholarship. Ann Pogrebitskiy, rising junior at the University of Nebraska–Lincoln is the recipient of the $10,000 scholarship. Adam Lathan, rising junior at Drake University and Kristen Marshall, rising senior at Illinois State University, are recipients of the $5,000 scholarships.

The CAS Trust Scholarship program, funded by donations to the CAS Trust, awards up to three scholarships to deserving students annually. The scholarship’s intent is to further students’ interest in the property and casualty actuarial profession and encourage pursuit of CAS designations. Recipients are chosen by the CAS Trust Scholarship Subcommittee of the University Engagement Committee.

“The 2018 application process was extremely competitive,” commented Silvia Bach, FCAS, chair of the CAS Trust Scholarship Program. “We had a large pool of highly qualified candidates, making the selection process quite a challenge. The three awardees really impressed the committee, and we look forward to celebrating their achievements at the 2018 CAS Annual Meeting in Las Vegas, where they will be recognized!”

CAS President Brian Brown added, “The CAS is dedicated to fostering the next generation of property and casualty actuaries. With programs like the CAS Trust Scholarship, we are able to recognize and support extraordinary actuarial students who will be joining the community of property and casualty actuaries in the near future. I congratulate this year’s winners of the CAS Trust Scholarship and look forward to meeting them at our Annual Meeting.”

To learn more about the CAS Trust Scholarship visit the CAS website or contact CAS Marketing and Communications Coordinator Maha Chaudhry.


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On the Road with the CAS President: My Visit to DePaul University

CAS President Brian Brown writes about his visit to DePaul University, highlighting questions and topics that came up during his presentation to the actuarial club.

I recently spoke at DePaul University located in the heart of Chicago, and host to the High School Actuarial Day event discussed in a recent LinkedIn update. DePaul is very involved with local high schools, and was a great help in recruiting students to attend the event. DePaul also has a summer program for talented high schools students. These fortunate students spend a week living and going to class on DePaul’s campus to learn about the actuarial profession.

The audience for my talk was the DePaul University Actuarial Club, and the event was organized by its president, Michaela Fossberg, who volunteered and spoke at High School Actuarial Day. Below is a picture of Michaela and me along with many of the other speakers at the Actuarial Day for High School Students.

DePaul University

I spoke to the actuarial club about the CAS’s impressive membership growth rate of between 6% and 8% over the last several years. This clearly implies that employers are valuing the CAS credential. I also spoke about different types of actuarial jobs, the exam process and the CAS Student Central program and resources.

I answered a number of questions on why I chose the casualty profession and what area of actuarial work is in highest demand. I said I chose casualty work as it appeared more statistically oriented and I always loved statistics; additionally I found all of the different types of casualty coverages very interesting. Based on our growth rates, casualty members are in high demand. I also mentioned that based on my general knowledge, health actuaries are also in high demand.

Several students were interested and intrigued by the use of telematics in auto insurance. They thought that this type of information will dramatically change auto insurance products and pricing. I think they are correct.

We had an extended discussion on the number of employers in Chicago that hire actuaries. Chicago actually has over 70 companies that employ actuaries. Allstate and CNA are well known but there are also several large companies that have regional offices and several small and medium size companies. The attached exhibit displays a list of companies that employ actuaries in Chicago.

I appreciate DePaul’s strong support of the actuarial profession and their support for the High School day in Chicago, and I enjoyed speaking with their students. Thank you, DePaul.


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On the Road with CAS President: Participating in University of California Santa Barbara’s Actuarial Day

Read about CAS President Brian Brown’s visit to University of California Santa Barbara (UCSB) to participate in their annual Actuarial Day event.

University of California Santa Barbara’s Actuarial DayI had the pleasure to speak at the University of California Santa Barbara (UCSB) Actuarial Day on Friday April 20th. UCSB is one of the 7 schools that has won the CAS University Award, recognizing them as a leader in educating property and casualty actuaries.

I was incredibly impressed by the quality of the students and the faculty. I had lunch with a number of the student officers of the actuarial club and they, in addition to having great analytic skills, had excellent communication skills. They asked a lot of great questions.

The UCSB actuarial program was started in 1989 by Professor Raya Feldman.  It is not surprising that UCSB won an award from the CAS given the quality of the faculty. The current faculty consists of three very well-known and respected actuaries:

  1. Roger Hayne,  FCAS – Roger is currently VP of International for the CAS and is a past CAS President;
  2. Janet Duncan, FCAS – Before joining the faculty, Janet held several senior positions with major insurers; and
  3. Ian Duncan, FIA – Ian has had a very successful career and one of his papers will be published in the upcoming edition of Variance.

There are also many other talented actuarial science faculty members at UCSB.

University of California Santa Barbara’s Actuarial DayAs I mentioned, I had lunch with a number of the officers of the actuarial club. It is always very interesting to meet talented people. In addition to pursuing her actuarial career and being treasurer of the actuarial club at UCSB, Sukanya Joshi also is part of a competitive dance team. She practices three times a week on the UCSB Bollywood Fusion Dance Team. The day after my talk she was dancing for charity, to raise money for the Akshaya Patra Foundation – the world’s largest school lunch program, which aims to end child hunger.The event was very successful. Congratulations, Sukanya.

I also met Permoon Hussaini; she is the incoming President of the UCSB actuarial club and is interning at Mercer this summer. Permoon is from Saudi Arabia but grew up with people from Asia, Europe and the Middle East. She felt that the exposure to different cultures helped her to better engage and interact with people.

After lunch, I spoke to all of the actuarial students. UCSB is an impressive program with 297 students. The students were very engaged and I received a number of great questions. One student said she loved math and wondered whether she could still use her math skills as she advanced in her career. I assured her that she will always be able to use her analytic skills.

University of California Santa Barbara’s Actuarial DayThe students were very interested in my discussion on telematics and predictive analytics. Also, Eric Weibel, President of Zendrive, was in the audience as an alumnus. Zendrive for years has collected individual driving information (speed, miles driven etc.) via a smart phone. Zendrive among other things uses this information to derive a driving score based on various variables (e.g. distracted driving, speed, hard braking etc.) to predict a driver’s likelihood of having an accident. Zendrive recently reached a billion miles of data.

I also met with UCSB’s Advisory Board. UCSB meets with alumni and others working in the industry to discuss new trends and areas where they can improve their actuarial science program. This is certainly a best practice and I learned a lot from the discussion. A couple items that were discussed included:

  1. UCSB is offering a very hands-on class with a lot of one-on-one interaction between the students and faculty in predictive analytics. The students are given real world data and have to program in R, Python or SAS to solve the problem and write up the results. This is a great class that will prepare the students for various jobs;
  2. Ian Duncan is doing research with the students and that has led to 4 papers being published.
  3. Raya said that she is encouraging students to develop their communication skills. In addition to writing and public speaking classes, she is also encouraging students to take theater classes. I think that this is wonderful, as employers are demanding candidates with great technical and communication skills.

I feel fortunate to have attended the UCSB Actuarial Day. USCB has a great group of students and a very intelligent and committed faculty. Thank you.


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On the Road with the CAS President: My Visit to the University of Connecticut

After a year filled with visits to universities, CAS President Brian Brown closed out the 2017-2018 academic year with a presentation at the University of Connecticut. Read about his experience presenting and interacting with students and faculty.

IMG_1615It was a pleasure to visit and speak to the actuarial students at the University of Connecticut (UCONN) recently. UCONN has a long tradition of being one of the most well respected actuarial programs. It is one of the seven schools that has won the CAS University Award for exemplary education of property casualty actuarial students.

UCONN has an outstanding faculty including past CAS President Pat Teufel. Pat had a very successful career, leading KPMG’s actuarial practice, before joining UCONN as a professor. Pat has also been a role model to me and I highlighted her in my Actuarial Review article on “Women of the CAS.”

UCONN also has three other faculty members who are CAS members:

  1. William Borgen, FCAS;
  2. Matt Jewczyn, FCAS; and
  3. Gao Niu, ACAS.

I spoke to the actuarial students about the CAS and the advantages of choosing a casualty career path. The students were very engaged and asked a lot of good questions:

  1. What was my most interesting assignment;
  2. Compare and contrast consulting to a company job;
  3. Why did I choose a casualty career path.

IMG_1617I mentioned that my most interesting assignments were merger & acquisition assignments where I represented the potential buyer. I liked digging into the details of the potential target company and highlighting the positives and negatives to my client. The most stressful and enjoyable situations involved finding and communicating problems with the target company that no one else found.

Comparing a consulting job to a company job is difficult as each company and each consulting firm is different (actually individual offices at consulting firms are different). However, as a general rule:

  1. At a consulting firm you may work more hours and probably initially make a little more money;
  2. At a company, you will probably have a little more structure to the process and type of work you do;
  3. At a consulting firm you will probably travel a little more.

As I mentioned in previous posts, I chose the casualty field because I thought it would involve more statistics and I was good at and enjoyed statistics. Also, I like that there are many different types of casualty coverages (e.g., warranty, ocean marine, D&O).

After my talk I had dinner with the faculty and a couple of students at UCONN. The students and faculty are very impressive. Alexa Cosenza will graduate from UCONN next week, after three years as an undergraduate (quite an accomplishment) and she has passed 4 exams. She will start her career at TransRe in New York. Alexa’s father is an FCAS, Tom Cosenza, the Chief Actuary at Pillar Capital Management in Bermuda. Alexa is also an enormous football fan and may know more about football than anyone else I have ever met. She may eventually be the Billy Beane of pro football with her analytic skills.

Matt Edson is interning at Travelers this summer. Matt interned at CIGNA last year and Travelers two years ago. Matt will be President of the student actuarial club at UCONN next year, and will continue in his role a CAS Student Ambassador Congratulations, Matt.

Meghan Smith Epaul met me before the event and gave me some background on the actuarial program at UCONN. Meghan has great communication skills, passed 5 exams, and is a Milliman Actuary of Tomorrow Scholar. Meghan accepted a position with CIGNA.

IMG_1621I also loved interacting with the faculty. I got along with Jim Trimble (Actuarial Science Program Director) well even though he is a lifelong and avid Green Bay Packer fan. Growing up in Chicago, I am a lifelong Bears fan – which has not been good the past few years. Jim heads up a wonderful and talented faculty.

Also, Emiliano Valdez teaches a class in Predictive Analytics where one of his recent projects entailed having students estimate default rates for home equity loans based on several variables and write up and present their work. I think this class will do a great job preparing students for the job market.

It was a great visit. I thoroughly enjoyed meeting the faculty and the students. Thank you Pat and UCONN.


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