News Type: CAS Profiles

Dan Watt, is a Fellow of the CAS and a dedicated volunteer, having begun his volunteer journey with the CAS in 2015. Over the years, he has contributed to various volunteer groups including the Syllabus and Examination Working Group, the Candidate Advocate Working Group, and the Casualty Actuaries of New England (CANE), among other volunteer roles.

Where do you work and what is your position?

I’m a professor at the University of Connecticut and also an actuary at The Hartford.

• UConn: I teach P&C courses as well as predictive analytics.
• Hartford: I help run the actuarial rotational student program, lead actuarial training, help with DEI and college outreach efforts, and help with various innovative actuarial projects.

Where did you attend college?

I received a B.S. in Mathematics from Utah Valley University.

Why did you decide to become an actuary?

Free pizza! A few actuaries came and presented on the profession at a nearby university. I heard there was free pizza, so I showed up, and the rest is history. They convinced me with their presentation. I decided to pursue the career because I wanted to continue learning for the rest of my life. It was challenging. It was also a clear path to apply my love for Math and Statistics in an impactful way.

What aspects of the field do you love?

The constant need to learn and grow. I’ve never done the same thing twice – it is definitely not monotonous. I love the level of creativity and innovation needed. I love the communication and collaboration with business partners. It’s consistently interesting and challenging. Such a great career!

What is the best career advice you have ever received?

Work on your personal brand by being polished, by volunteering, and by networking. In the workspace, when someone hears your name, do they know you and do they have a good impression of you?

• Being Polished: Practice before any presentation. Be prepared for meetings with your manager, mentors, and business partners. Be yourself at work, but also consistently professional. Us the “3 T’s” in presentations and most professional interactions (“Tell them what you’re going to tell them, tell them, then tell them what you just told them.”).
• Volunteering: Raise your hand when folks ask for volunteers, whether it be a special project, a committee within your professional organization, and/or a charitable event. With special projects, it may be scary at first – you may experience Imposter Syndrome a bit, but the opportunity to network and learn is worth it.
• Networking: Promotions, job placements, etc. can be both objective and subjective. It’s very difficult to get an opportunity if nobody knows who you are or can vouch for your skills. Most networking will happen naturally through volunteering for projects and events, but it’s also good to set up coffee chats with folks. A personal brand must be built. It’s not passively earned.

Do you have any advice for those just starting out?

Seven things I wish I knew at the start of my career:

1. The exam process is a marathon, not a sprint. Manage your expectations accordingly.
2. Study the material for the exams as if you needed it for your career – get to know it so well you could teach it, and then subsequently pass the exam. i.e. Study for the knowledge, not just to pass the exams.
3. Compartmentalize your life, with a focus on physical, emotional, and mental health. When you’re at work, be fully at work. When you’re studying, be fully studying. Most importantly, when it’s your personal or family time, be fully present. Juggling all of it is a simple math problem of time management, as well as maintaining proper boundaries and expectations.
4. Maintain mentor relationships with folks about two years ahead of you in progression (e.g. when first starting out, get a mentor that is an associate and still taking exams. Later, get a mentor that is a recent fellow. After that, get a mentor that is a director, AVP, etc.).
5. You are going to feel Imposter Syndrome for the first 5-10 years of your career. Just expect it. It’s okay.
6. Actively work on your personal brand.
7. Always keep your 401k contributions at the percentage your company matches. It’s basically free money for your older self.

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

P&C is super fun! Every actuary will tell you they love what they do, so I’m sure life/health are perfectly fine paths to follow, but I have found P&C endlessly interesting. It requires creativity, innovation, predictive analytics, and more on a plethora of interesting puzzles. For example – the weather, climate change, self-driving cars, cyber security, anti-terrorism, artificial intelligence impacts, and the list goes on and on. So many analytically delicious topics!

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

Three pieces of advice:

1. Start learning how to study with a thirst for knowledge, rather than focusing solely on grades. If you find yourself memorizing a list or formula without truly understanding it, take some time to figure out why someone invented it in the first place. If you know the guts of the material well enough to explain it to a stranger on a bus, you’ll get good grades anyway, and know the knowledge belongs to you. (Don’t talk to strangers on buses…)
2. Network! Network! Network! Go to career fairs. Attend actuarial nerd conferences. Sign up for volunteer opportunities with professional societies. Join affiliate groups like the International Association of Black Actuaries (IABA), the Organization of Latino Actuaries  (OLA), the Sexuality and Gender Alliance of Actuaries  (SAGAA), etc. Use LinkedIn.
3. In addition to actively studying for exams, take the time to build other needed skills. Vital skills for newbies include: Excel, presentation skills, Excel, communication skills, Excel, Excel, and Excel. You really need to know Excel.

Kyle Bartee, FCAS, leads the Actuarial and Underwriting departments of Roamly. He has been an active volunteer with the CAS since 2014 and currently serves as the Volunteer Chair the CAS Case Competiton Volunteer Task Force. He received the CAS Above and Beyond Achievement Award in 2024.

Where do you work and what is your position?

I work a Roamly, an RV insurance company where I lead the Actuarial and Underwriting departments.

Where did you attend college?

I attended Maryville University in St. Louis, Missouri, and earned a master’s degree in Actuarial Science.

Why did you decide to become an actuary?

I wanted a career where cutting edge mathematics intersected with the business world.

What aspects of the field do you love?

I love that actuaries help provide the insights and innovations that not only help our companies grow, but also help protect our customers from loss events that could have left them in financial ruin without insurance.

What is the best career advice you have ever received?

Don’t wait for your manager to tell you what to do. Find ways to add value by anticipating what is needed before you are asked.

Do you have any advice for those just starting out?

Your resume is a story waiting to be told. Have an anecdote ready to be told for each bullet point in your resume so that your interview feels more like a conversation.

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

In addition to being paid really well, actuaries help insurance companies provide coverage that helps protect people from the financial hardship of a loss. We help ensure that our companies can keep their promise to protect our customers.

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

Train yourself to be a lifelong learner by seeking knowledge and skills outside the classroom. Take what you learn in class and find real world problems you can solve in areas that interest you, like Kaggle problems or actuarial case competitions. CAS Student Central is a great starting place to find additional resources and challenges that can give you an edge when trying to find your first job.

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.

Rachel Hunter is a Career Changer.

In what field or actuarial concentration do you work in now?
I most recently worked in pricing for small commercial lines.

What job did you do or industry did you work in before becoming an actuary?
During the late 90’s, I was part of the dot-com boom building websites at a handful of different startup companies.

Why did you decide to change careers and become an actuary?
Working in technology wasn’t a career choice for me as much as it was a very easy job to get at the time if you had the basic skills to do it and ability to learn more.  At first I only planned to do it for a while deciding whether to go to graduate school in some field of Biology (my undergraduate major).  In 2001, after leaving a startup in CA and moving to Seattle, WA without a job, I started looking at long-term career options.    I took an online version of the MAPP career assessment and it suggested I be either a writer, architect or actuary.  I had been considering both writer and architect but knew it would be a lot of time to get to the point of having a stable income and that both required continually selling my skills.  So I decided to take the first actuarial exam and apply to the local companies in Seattle that had actuarial entry level roles.  Within the first week on my job at Safeco insurance, I already had respect from senior executives and it was such a welcome change in terms of culture  from my technology jobs.

What advice do you have for others who are considering a similar career change?
The hardest part of the change for me was exams.  Be ready to set progress goals for yourself and try to find a study group to keep you on track.

Where do you work and what is your position?
I have been part of Travelers Insurance for 16 years. Currently I am an AVP in Corporate Actuarial where I lead our work on annual and quarterly financials related to reserves, catastrophe reporting and competitor analytics.

Why did you decide to become an actuary?
During my senior year of high school, I was invited to attend Travelers’ first annual high school day, which introduced the actuarial profession to top math students from around Connecticut. The event featured senior leader speakers, an actuarial student panel and a presentation by BeAnActuary.org. At the time I was just looking for a day off of school; little did I know the day would introduce me to an exciting career! Travelers continues to hold the event annually and I’m proud to have been involved with the event in numerous roles over the years, including as a past chair of the event.

What aspects of the field do you love?
I’m lucky that I get to work and volunteer with the most talented and innovative people day in and day out. My position is unique in that I get to work with reserving actuaries across all areas and facilitate the exchange of ideas and information between them; ultimately drawing out the bigger picture to help guide management’s decisions.

What is the best career advice you have ever received?
Both in life and at work, always leave things better than how you found it. People will notice and respect you even more for it.

Do you have any advice for those just starting out?
Work on refining what studying method works best for you and gives you the best shot at passing. For me, I learned that exams are tough, but they are especially tough to do alone. Find a group to study with to supplement your individual efforts. You’ll notice that it helps fill the gaps in your studying that you didn’t know you had. Also, the exam process is rewarding but it can be mentally exhausting. Make sure to take time for yourself. I always tried to take some time off to travel after each exam as a mental break and to help pass the time waiting for results.

Why would you recommend a career in the insurance industry to current college students?
When I was nearing the end of my college career, I wasn’t ready to stop learning but at the same time I didn’t want to continue on for a Masters or PhD. A career in the insurance industry offered the perfect amount of continuous learning, growth and development for me. There’s a wide range of diverse opportunities with a mix of analytical skills, innovation, technology and communication. I also enjoy the community aspect that insurance companies share by being able to make a meaningful impact by helping individuals and businesses manage risks.

What can students do now to prepare for a career in the industry?
There are so many things students can do now to prepare; networking with professionals, attending industry events (CAS, GIS, etc), gaining relevant skills through courses, internships, staying updated on industry trends and so much more. My biggest advice though is don’t go in and try to tackle them all. It’s a lot and you’ll end up getting burned out. At the same time my second piece of advice is to do something, anything. Pick a few with the goal of really committing to them and getting everything you can out of the experience. Don’t treat them as a check box.

Melissa Huenefeldt is a Career Changer.

Where do you work and what is your position?
Consulting Actuary, Milliman

In what field or actuarial concentration do you work in now?
Property & Casualty reserving for large deductible/self-insured organizations.

What job did you do or industry did you work in before becoming an actuary?
I double-majored in math & psychology, hoping to find a position in quantitative research.  After a year, I started on my master’s in applied math.

Why did you decide to change careers and become an actuary?
After I couldn’t find a position in my initial field of choice, I took a job with the Missouri Department of Health and Senior Services.  After almost two years there, I had a friend send me a newspaper clipping for an Actuarial Specialist position at Missouri Farm Bureau. I got the position, and I started taking exams at the age of 26! (I finished my Master’s while taking exams).

What advice do you have for others who are considering a similar career change?
It’s never too late!  While a degree in actuarial science may have been nice, I feel like my circuitous path has made me a well-rounded actuary.

Where do you work and what is your position?
I work as a manager in the Insurance and Actuarial Advisory Services practice of EY.

Why did you decide to become an actuary?
When I was applying for college, I had no clue what I wanted to do but I knew that I wanted it to be math-related. I had originally planned to be a high school math teacher, but the field was saturated in my area at the time. One of my family friends recommended looking into actuarial science, as the field at the time was ranked consistently in the Top 10 jobs for low stress, high pay, and high job satisfaction. I looked into it and liked the balance of analytical, technical, and communication skills that are required on a daily basis.

What aspects of the field do you love?
My favorite aspect of the field is the variation in the type of work you can do. At first, it may seem like just pricing and reserving but as you progress you realize there’s also a need for actuaries in other areas like regulatory, ERM, or catastrophe modeling. And then there are nuances based on line of business, what company you work for, or who your underlying insureds are. And once you really think you understand everything, there’s something that comes along (Covid-19, inflation, unprecedented CAT event, legal/social changes) and you need to react, many times without a blueprint because it’s the first time the issue is arising. I really love that it doesn’t just come down to the data, but the story underlying the data and how you address that story. My other favorite aspect is the amount of different avenues to volunteer. Whether it’s mentorship, participation on a multitude of working groups or task forces, exam writing/grading, or speaking at an event, there’s so many ways to get involved. You’re bound to find something that you’re interested in and can network with others who share that interest. The CAS has a lot of members who really want to give back, and I’m proud to be a member of a group with those values.

What is the best career advice you have ever received?
I’m probably butchering the original quote, but it was something like “People will forget you saying you don’t have time for an extra task, but you’ll certainly remember failing your exam because you took it on.” Basically, learning to say no when you have too much on your plate is a great skill to learn early. I found that most of my exam fails while working came from accepting a lot of work leading up to the exam and not wanting to decline or offload anything. When I changed my mindset and got better at communicating, I was able to strike a nice balance between being available at work while also getting my study time in. It was difficult at first, but I found my co-workers very receptive and understanding to my study time needs; after all, most of them had to go through it too.

Do you have any advice for those just starting out?
I would strongly recommend forming a study group with your peers for each exam sitting. It of course helps if you’re taking the same exam, but even if you’re not, the group can help keep you honest about the hours you’re putting in to study each week. I feel like there’s also a stronger camaraderie built when you’re struggling together to memorize this formula or understand that solution. It’s also nice to have a team to cheer you on through the passes and cheer you up through the fails.

Why would you recommend a career in the insurance industry to current college students?
I’d recommend a career in insurance because it’s a constantly evolving industry, which keeps your work interesting. As time goes on, new risks emerge and insurance for those risks follow shortly after. When building these products to help protect against risk, you get to balance the analytical side of quantifying the cost of risk with the creative side of creating a product that people want to buy. Also, there’s plenty of opportunity for professional development, whether that’s learning about a new line of business/geography/market or gaining a deeper understanding of your own.

What can students do now to prepare for a career in the industry?
One thing I would suggest is to start reading about what’s happening in the industry. This doesn’t have to be completely comprehensive, but once a month I’d recommend spending an hour looking at new companies entering the market, legal changes and their effects, trends, emerging risks, etc. This can help students to build up their knowledge early on and start them off with more insight when they’re beginning their career. This also has the added benefit of being something you can speak to in an interview when applying for a job.