News Type: CAS Profiles

Kristen Marshall studies actuarial science at Illinois State University. She is the vice president of membership for Toastmasters International Club on campus, the finance coordinator for Christian Business, and the current trip leader for the 2018 Honors Program Alternative Spring Break Trip to New Orleans, where she will partner with Junior Achievement to visit low-income schools to teach students about finance and running a business. Kristen currently interns at Pinnacle Actuarial Resources and has accepted a full-time offer at the company.

1. Why are you interested in pursuing a career in the insurance industry?
   I am interested in pursuing a career in the insurance industry because the challenge of insuring assets in an evolving, technological society is fascinating to me. The great diversity of work in the actuarial field will make each day exciting in a quest to adapt to the changing risks and regulations caused by new technologies. I love being able to have a positive impact by contributing to the effort of worker safety and economic stability provided by insurance.
2. Why did you decide to study actuarial science?
   Growing up, I was passionate about taking care of animals and my favorite subject was mathematics. After realizing I do not like blood or needles, I made the decision to pursue a career relating to mathematics. I was led to actuarial science after researching college majors and discovering that the career fit my skillset. The exam process was intriguing as I crave challenges to keep myself on a path of continual development.
3. What advice would you give to someone interested in studying actuarial science?
   My best advice to someone interested in actuarial science is to jump in with both feet. There are endless opportunities in college for personal and professional growth. Do not be afraid to participate in internship fairs and networking events as a freshman because the experience is beneficial in preparation for landing an internship as a sophomore. If possible, I recommend taking insurance classes to learn about the vast insurance industry outside of the actuarial field

Jake Akstins studies actuarial science at the University of Illinois at Urbana-Champaign. He is president of the university’s actuarial science club, and was selected as a 2017 CAS Trust Scholarship Winner. Jake has spent the last two summers interning at CNA and will begin working there full time after graduation.

1. Why are you interested in pursuing a career in the insurance industry?
   I believe in the mission of insurance – insurance is a social tool which indemnifies others to make them financially whole after experiencing a loss or accident. Insurance is a concept that allows people to help others through the insurance company which serves as a liaison. I want to help make these connections smooth and fair.
2. Why did you decide to study actuarial science?
   I would’ve never ended up in this field if it wasn’t for the Illinois Mathematics and Science Academy (IMSA), my high school. Here, I was exposed to professors who taught me about the power of mathematics and what you can do with it. I am very interested in diversity and inclusion and social justice, and I find ethical questions regarding pricing and reserving (quantifiable discrimination vs. more accurate pricing) to be fascinating. I am particularly interested in confounding variables.
3. What advice would you give to someone interested in studying actuarial science?
   Do your research, learn the lingo, and read-up on the industry. What’s a loss ratio? What’s a loss? What’s a claim? Use these questions to help you dig deeper to find your “why”. Studying to be an actuary is a lot of work, and I really, really wouldn’t recommend to do it just for the money.