CAS Profile: Paul Kinson, ACAS
Where do you work and what is your position?
I am President and Consulting Actuary at Liscord, Ward & Roy, Inc., a property/casualty actuarial consulting firm located in Manchester, NH.
Why did you decide to become an actuary?
A week before I finished college, a recruiter from Aetna Insurance was on campus talking to students about the actuarial career. I was intrigued by what I heard and thought it would be a good fit for me. Prior to that, I knew very little about the actuarial career. This is what has driven my passion to help students learn more about the career at an earlier stage than I did. That is why I have volunteered with the University Liaison program, the University Engagement Committee, and mentoring students at CAS meetings.
What aspects of the field do you love?
I have spent most of my career in consulting. I love the diversity of assignments and clients that I have had the opportunity to be involved with. I get to work on several different projects, for various types of clients, covering many casualty lines of coverage. It keeps it interesting and makes me want to go to work every day.
What is the best career advice you have ever received?
My first job was with a consulting firm, and it was stressed that accuracy and attention to detail is paramount. Making sure that things get done right is important to maintaining the respect of the clients. But when mistakes are made, and everyone makes them occasionally, it is also important to own them and make corrections as soon as the mistakes are found.
Do you have any advice for those just starting out?
Network! The actuarial profession is relatively small, and it is surprising how often your path crosses with those of other actuaries throughout your career. An actuary’s network is useful in many ways – from lifelong friendships, to future job opportunities, to sources for advice on projects, to recommendations for committee assignments, to dinner companions at CAS meetings, and many others.
Why would you recommend a career in the insurance industry to current college students?
Insurance provides a safety net that allows businesses and individuals to participate in activities that they might otherwise refrain from. As such, insurance touches many aspects of our lives and is an important part of society. The insurance industry is dynamic, ever changing, and an exciting place to work. The Property / Casualty insurance industry in particular provides a wide range of positions and careers for someone to find their niche, aligning their interests, skills, and qualifications, because of the ever expanding need for coverages to adapt to a rapidly changing world. I may be biased, but I think a career as a casualty actuary provides the greatest opportunities to be involved – interacting with people from many disciplines, solving challenging problems, and being a part of an industry that is integral to the economy as a whole.
What can students do now to prepare for a career in the industry?
Improve your communication skills. Great oral and written communication is essential to making your thoughts, solutions, and ideas understandable to others who are in positions of acting on them. Be well rounded. Having knowledge in multiple areas makes you more valuable and more adaptable to change. Be comfortable with math and statistics. In a world immersed in data, people who can analyze that data, and people who can understand what that analysis means, are the people who will guide the decisions that change the future.