News Type: CAS Profiles

My name is Sebastian Czerwinski and I am a senior at Illinois State University. Currently I am an actuarial intern at COUNTRY Financial on their pricing team for commercial lines of business and I have accepted a full time position with them in the same position. An interesting fact about me is that I can speak in three different languages: Polish (native), English, and German.

Why would you recommend a career in the insurance industry to current college students?
Insurance industry seeks people with various backgrounds. It is an ever-evolving industry especially on the property and casualty. There is high demand for the skills and knowledge that actuaries have. The technological innovation is another reason to work in the insurance industry since there is a need to overcome this stigma that insurance is behind the technological advances and methodologies to collect and analyze data.

Why did you become an actuary?
I wanted to become an actuary because this profession connects my passion for math with a very practical application which is the property and casualty insurance. At first, I was not sure which path to choose SOA vs CAS, but the choice became obvious once I started learning more about the insurance industry. The P&C is more intuitive for me and I can easier see how the actuarial principles apply to the property and casualty insurance products. On top of that, the variety of fields of study that I get learn about such as business, law, insurance, and programming make this profession very interesting and broad enough for me to find something that I like the most and specialize in it.

What drew you to a career in property and casualty insurance?
The property and casualty insurance products are more intuitive for me, and it is easier to see how the actuarial principles apply in practice. P&C is a fast-changing industry and with the technological innovations there is always something new or a need for an insurance. I can see the impact of my work very fast, and I feel that I can make a direct impact in businesses and people’s lives.

What can students do now to prepare for a career in the industry?
I would say that students should along with their actuarial exam preparation, they should attend as many different conferences as they can to network with industry professionals and learn more about the insurance industry to see what they are interested more. The reason for developing interest in insurance itself is that with the understanding of how the insurance works and how it is regulated, it will be much easier to see how the actuarial principles apply on a daily basis. Also, once you understand how insurance works, it will be easier to adjust the pricing and reserving methodologies or even create models. On top of that, learning at least one programming language will be a huge advantage as almost all companies require candidates to know programming. Even if it is not one that a given company uses, it will be much easier to learn a new one fast since the idea of programming does not change no matter what language you use.

Name of university attended: The Wharton School at the University of Pennsylvania

Current employer/job title: Senior Actuary at New Energy Risk

Why would you recommend a career in the insurance industry to current college students?
Insurance is so dynamic and interesting!  I graduated from college in 2014, and while we were talking about “big data”, we didn’t talk much about data science. Now, data science is a big part of insurance companies and something that actuaries can get involved in.  During my time as an actuary so far, I’ve had the chance to work internationally as well as in newer industries like telematics and clean energy.  There are lots of opportunities to try new things in your insurance career, and I think that’s part of what makes a career in insurance so satisfying.

Why did you become an actuary?
In high school, I discovered that I really enjoyed math but wasn’t sure what to do with it. I considered engineering or accounting, but neither seemed like the right fit for me. After meeting a friend of a family friend who is an actuary, I decided to consider the career. I liked the idea of taking exams while working (“learn while you earn”) and also spoke to some actuaries who had worked internationally, which appealed greatly to me. So far, I’ve been very happy with my career choice!

What drew you to a career in property & casualty insurance?
The opportunity to work on a variety of projects and to work internationally were what drew me to a career in P&C insurance.  So far, I’ve been fortunate to experience both.  I worked in Zurich Insurance’s Sao Paulo, Brazil, office for two years as part of their international rotation program and had a wonderful experience.  I’ve also had the chance to work in telematics and clean energy, both of which I’ve found very interesting.

As I’ve gained more experience, I’ve also been able to see how insurance can improve lives.  For instance, in my current role, I help price risks for companies that are rolling out new clean energy technologies.  Without an insurance policy, they might not be able to secure financing from lenders – the insurance policy helps to pay back some debt in the event that the technology doesn’t perform as expected, and some lenders require such a policy before they will agree to provide financing.  It’s interesting to see that insurance can play an important role in not only keeping people financially secure when disaster strikes but also in helping new life-improving technologies hit the market.

What can students do now to prepare for a career in the industry?
I think having some understanding of statistics is very helpful for a career in the insurance industry. Even if you don’t work as an underwriter or actuary, it’s helpful to understand some of the technical foundations of insurance.  This helps you understand the product we work on and will also facilitate your conversations with your technical colleagues.

I would also say that it’s important to understand solving business problems.  For example, sometimes a client or colleague may ask for a particular analysis, but once you understand their problem, you see that they might not be asking the right question to solve their problem. If you can help them figure out what that question is, that helps to put everything else on track.

My name is Jason Nikowitz.  I have an associate degree from Harper College, a bachelor’s degree from Purdue University, and a master’s degree from North Central College.  I currently work at Zurich North America as an AVP Actuary and Team Lead.  Prior to transitioning to actuarial work, I taught high school mathematics for five years.  I am a Fellow of the Casualty Actuarial Society (FCAS), a Chartered Property Casualty Underwriter (CPCU), and a Certified Specialist in Predictive Analytics (CSPA).

Why would you recommend a career in the insurance industry to current college students?
A career in the insurance industry can be rewarding experience that combines applied analytics and problem solving in a way that benefits society.  Risk is an unavoidable part of life, and at its core the insurance industry quantifies that risk in a way that motivates businesses and individuals to reduce and mitigate their exposure to it.  It provides a method for those participating in risky endeavors to pay their fair share.  In exchange, insurance companies promise to provide support and indemnification if said risk manifests into a tangible loss.  Actuaries are the backbone of the quantification of risk; without them insurance companies couldn’t confidently keep these promises.

Why did you become an actuary?
While I loved teaching for five years, I decided I wanted to pursue a career that offered more opportunities to apply higher levels of mathematics and problem solving.  To be honest, I was also drawn in by the exam process.  I consider myself a life-long learner, so to be able to switch to a career that supported a formal learning process like the exams do was a big plus.  Icing on the cake was that I could apply my programing skills as well, which was something I had been developing as a hobby.

What drew you to a career in property and casualty insurance?
Property and casualty insurances interested me specifically because of the unique products they offer and challenges they face in analyzing and supporting these products.  There’s so much to learn in this industry, and it seems the possibilities are only increasing.

What can students do now to prepare for a career in the industry?
Specifically, students can explore the exam process and, after preparing adequately, even attempt an exam.  The exams aren’t everything, but they are a big part of the early stages of this career so it’s important to be on board with them and the commitment they’ll entail.  In general, they can work on building their math, statistics, and analytical skills.

University: The University of Iowa

Current Employer/Title: Deloitte Consulting LLP – P&C Actuarial Senior Manager

Why would you recommend a career in the insurance industry to current college students?
Insurance is an industry with a lot of opportunities. Almost every individual and business in the US is required to have insurance. Insurance provides piece of mind to ensure individuals and businesses can operate while being protected in the event of a loss. Within insurance, actuaries fill not only actuarial roles but roles within Underwriting, Claims, Finance, and I have even seen Marketing! Actuaries within Insurance are highly appreciated and leveraged!

Why did you become an actuary?
In High School I began to explore careers. I knew I was good at math and wanted a career that incorporated math. I explored Accounting, Finance, and Actuarial Science. In looking at the different paths, Actuarial Science stood out to me. It was known as one of the top professions and allowed for a lot of growth. To this day, I do not regret my decision.

What drew you to a career in property and casualty insurance?
The variety of work. If you think about the actuarial world, Health actuaries work on Health Insurance, Life actuaries work with Life insurance, and Retirement actuaries deal with Retirement, P&C does everything else. One day you can be working on Personal Auto, the next day Workers’ Compensation, and the day after, Asbestos & Environmental. The variety of P&C Insurance will always ensure you will never be bored!

What can students do now to prepare for a career in the industry?
Keep current on issues impacting the industry. One thing I stress to my staff is to not only understand what clients are doing but what macro issues exist that can affect them. This will help you become a future leader!

School: New York University 

Current Employer/Title: Vice President Actuary, Head of US Reserving at Ascot Group 

Why would you recommend a career in the insurance industry to current college students?
The insurance industry is exciting because insurance products are always changing to keep up with the world.  For example, we get to see how cyber risks or wildfire risks change year to year or even quicker.  Actuaries also play important roles in interpreting data to help insurance companies make good, informed business decisions. 

Why did you become an actuary?
When I was in college, I knew I wanted to be in a more quantitative career, and one of my academic advisors pointed me to actuarial science.  I liked how the exams provide an initial structure and career trajectory that I found helpful starting out.  I’ve also been able to make work/life balance a priority throughout my career.  For example, I’ve been able to balance an engaging career while also participating in rec sports leagues throughout the year.  

What drew you to a career in property and casualty insurance?
I’ve always found property and casualty insurance to be a little more interesting than life insurance because of the nature of the risks compared to the standard life insurance products.  We have uncertainty around loss frequency, severity, and timing.  

What can students do now to prepare for a career in the industry?
It’s become more and more of a necessity for actuaries to be comfortable working with large data sets, so I would recommend students take a computer or data science course if that’s available.  I would also recommend students try to talk to working actuaries.  Both actuarial societies have set up events and resources to help facilitate this, such as this month’s Be An Actuary events. 

Name of college/university attended: Brigham Young University with a degree in Actuarial Science 

Current employer/job title: Actuarial Analyst at the American Family Insurance Group 

Why would you recommend a career in the insurance industry to current college students?
Insurance is a great career for anyone interested in applying statistics you’ve learned in class or seen in real life. Insurance is nothing more than a complex series of probabilities, and that’s an interesting realm to work in with near boundless applications. 

Why did you become an actuary?
I became an actuary after some advice from a high school statistics teacher. I enjoyed statistics and had a good history of exam taking, so figured I’d mix the two. The exams are considerably harder than your high school statistics exams but a whole lot more rewarding.  

What drew you to a career in property and casualty insurance?
I decided on property and casualty for a few reasons, but mostly because modeling mortality sounded a little too morbid. In addition to that, I appreciated the CAS’s exams and their take on the credential process. 

What can students do now to prepare for a career in the industry?
Students can look for statistics in their current interests. Insurance is nothing more than applied business statistics, and statistics isn’t just a field of study but a broader way of understanding events around us and representing them to others. If you’re interested in sports, there’s an easy intro to statistics. Wildlife, music, social media? Statistics heaven. My wife’s even a big bachelor fan, and I have to say @Bachelordata is one of the most interesting things I’ve seen in a long time. Not my cup of tea personally, but it just proves again that statistics are everywhere, just dig into what you’re already interested in and it’ll serve you greatly down the road. 

 

Name of college/university attended: University of Notre Dame  

Current employer/job title: Managing Director at Deloitte  

Why would you recommend a career in the insurance industry to current college students?
Working in the insurance industry is a way to be on the front lines of making a social impact. The industry is designed to help individuals and businesses manage life’s uncertainties, by responding with services and financial support when people are impacted by unexpected events. It is also a stable industry, which has operated without significant disruption for hundreds of years!

Why did you become an actuary?
I wanted to find a career that would allow me to apply math and problem solving in the business world. I’ve always liked puzzles, mysteries or detective stories, strategy games… being an actuary is kind of like applying those skills to figure out what to do in a business scenario. That’s what makes the actuarial exams both rewarding and sometimes frustrating – it’s not just about memorizing facts and formulas – they also train you in critical thinking and synthesizing information to find a solution.

What drew you to a career in property and casualty insurance?
I loved the variety and fast pace of change in the property and casualty insurance sector. I sometimes joke that P&C is the “everything else” insurance industry. We cover things from cars and buildings… to doctors and lawyers… to satellite launches and hole-in-one golf contests. And the risks faced are constantly evolving, like cyber risks or weather patterns or workforce shifts, which makes for interesting problems to solve as an actuary.

What can students do now to prepare for a career in the industry?
In addition to a strong math and statistics foundation, complement your schedule with a mix of business classes, and get involved in activities that build your communication skills. Great actuaries aren’t just good at technical work, they translate their analysis into insights that stakeholders can understand and act upon with confidence. My other advice is to network, network, network! Seek out and take advantage of any and all opportunities to interact with working actuaries – that is the best way to get a better understanding of what it’s like to be an actuary, and what type of employers might be a good fit for you.

Name of college/university attended: University of Notre Dame

Current employer/job title: CNA Insurance, Actuarial Consultant

Why would you recommend a career in the insurance industry to current college students?
The insurance industry has rewarding work. New graduates can immediately see their work helping clients recover after accidents or catastrophes. In addition, it has a great job outlook.

Why did you become an actuary?
I’ve always wanted a career that used statistics and mathematics. I knew I wanted to work in business, and so I was drawn to pursue an actuarial career.

What drew you to a career in property and casualty insurance?
The property and casualty insurance industry is always changing. It’s a field that is strongly data driven and requires one to stay up-to-date on industry trends. In addition to being an exciting field, it is also a necessary field and impacts the lives of most everyone with whom we interact.

What can students do now to prepare for a career in the industry?
I would recommend networking with individuals already in the insurance industry. I would also recommend subscribing to an insurance newsletter.

Name of college/university attended: Arizona State University 

Current employer/job title: Allstate, Actuarial Analyst  

Why would you recommend a career in the insurance industry to current college students?
When I first started, one of the things that surprised me most was the strong sense of community present in the insurance industry. The amount of support and resources out there for college students is, in my opinion, unparalleled to any other industry. 

Why did you become an actuary?
When I was a student, I had three main criteria I was looking for in a career: I wanted to use advanced mathematics in a role that was not education or engineering related, I wanted my career to grow with me and offer a continuous challenge no matter my years of experience, and lastly, I didn’t want my job to take first priority over my personal life. Becoming an actuary ticked all those boxes! 

What drew you to a career in property and casualty insurance?
I was attracted to the P&C side of insurance because of the flexibility it could offer. There are so many areas within the industry that can be explored; it is very difficult to get bored or caught up in the repetition of things. 

What can students do now to prepare for a career in the industry?
Learn a programming language! Computer sciences was not my favorite class in college, but I am so thankful I had it. Having a programming language on your resume will help distinguish you and give you a head start in whatever 1st job you get! 

 

My name is Chelsea Adler and I’m an FCAS passionate about changing the narrative around insurance. After graduating from Ohio State University with a major in Actuarial Science, I spent the first 5 years of my career pricing Homeowners insurance at State Farm. I then transitioned to my current role as Senior Manager, Pricing and Actuary at an InsurTech start-up called Root. I love what I do and recently launched a blog to help and inspire future actuaries.

Why would you recommend a career in the insurance industry to current college students?
Growing up I got to witness firsthand how amazing insurance can be. My father is a State Farm agent and he has always gone above and beyond to be “like a good neighbor.” After a devastating storm, he’d be the first person on the scene to help a homeowner clear debris off their home. After the loss of a loved one, he’d drop everything to be there to comfort the grieving. Unfortunate life events can devastate individuals and families. Getting to love and support others during these difficult times is immensely rewarding. If you want to work in an industry that helps people and makes a positive impact, insurance is where it’s at.

Why did you become an actuary?
Initially I was drawn to the actuarial profession because I loved math and problem solving. However, what really sold me was the collaboration and variety of work. No day is the same and I love getting to partner with individuals throughout an organization to accomplish our goals.

What drew you to a career in property and casualty insurance?
Technology is rapidly changing the world. As cars evolve and smart homes emerge, the insurance industry must adapt to the changing needs and expectations of society. Working in P&C insurance, I get to be at the forefront of some exciting developments. It’s rewarding to develop innovative solutions to diverse and challenging problems.

What can students do now to prepare for a career in the industry?
Spend time in an insurance agent’s office! Whether it’s a job shadow or a summer internship, what you’ll learn on the front lines will be invaluable as you progress in your career. It’s important to understand the mechanics of how insurance works, but even more critical to understand how the consumer experiences insurance. You must always keep the policyholder in mind, as the decisions you make as an actuary will have a direct impact on them.