Membership & Education
 

Hot Seat Challenge Profiles

Meet three of the six students who took part in the CIA’s Hot Seat Challenge at the Actuarial Students National Association (ASNA) convention in January.

In January 2017, the Canadian Institute of Actuaries (CIA) invited students attending the Actuarial Students National Association (ASNA) convention to take the Hot Seat Challenge: tell us your innovative ideas on how the actuarial skill set may be used in the future in non-traditional ways and earn a chance to present at the convention’s Innovation and the Evolution of the Actuarial Profession session.

Six aspiring actuaries took up the challenge and spoke as guest panellists alongside Claude Ferguson, FCIA, Chair of the CIA Emerging Practices Committee, Joel Li, ACIA, manager, predictive analytics at Allstate, and Jamie Jocsak, FCIA, actuary, BCH Actuarial Services.

We are pleased to profile three of these #FutureActuaries. Watch for more student profiles to be published next month.

Raymond Li

Raymond LiRaymond Li is an actuarial science student at the University of Waterloo (UW). He has been heavily involved with the UW Actuarial Science Club, most recently as its president. He has had co-op terms with Desjardins General Insurance Group, Aon Hewitt, and on the advanced analytics team at Economical Insurance.

Raymond’s career goal is quite simple: experience as much as possible within the field of actuarial science. His interest has been mostly in the property and casualty industry, although he is also interested in data analytics, especially data visualization, applications in government and the judiciary, and operational management. In the short to medium term, he hopes to earn his Fellowship designation while looking to contribute to the institutions supporting the profession such as the CIA, Casualty Actuarial Society (CAS), or the Society of Actuaries (SOA).

Raymond Li’s thoughts on the evolution of actuarial practice: “I believe that actuaries are uniquely positioned to leverage the growing and powerful skill set of data storytelling. Data storytelling is the process by which a story is crafted around data and statistics in order to persuade and drive change. It involves interactive and dynamic visualization of data and a carefully moulded speech carrying the audience to the speaker’s intended conclusion.”

George Ren

George RenGeorge Ren is an actuarial science student at the University of Toronto, working a term at Allstate Insurance. He is a mentor for first-year actuarial students where he gets to introduce them to the industry and industry leaders.

George wants to be an actuary and someone who can make a change in the world through effectively leveraging financial and statistical information. He has always been curious about uncertainty and the idea of how probability works in real life. He plans on obtaining his Fellowship and exploring all the possibilities available to actuaries to obtain experience in different areas. He hopes to end up in a career where not only will he be faced with complicated and difficult situations that require creative solutions but also have the chance to make a difference.

George Ren’s thoughts on the evolution of actuarial practice: “My vision for the future of the actuarial skill set is for it to contain not only financial and mathematical information, but information from all fields. I imagine more tracks being made so that actuaries can learn about the workings of other industries. I see actuaries with understanding in medicine and health being trusted consultants when it comes to health insurance policy. I see those with the actuarial skill set working alongside the news media and politicians to give context to information as it arises.”

Mihailo Cvetkovic

Mihailo CvetkovicMihailo Cvetkovic is a University of Toronto student majoring in both actuarial science and mathematics. Although he was always good at math, it didn’t interest him very much until his second and third year of university when he decided to learn more abstract and theoretical math.

Mihailo has already passed two SOA exams, and plans to finish a third (Models for Financial Economics (MFE)) before the end of 2017. As he develops his career, he would like to branch out and gain experience from all parts of the actuarial profession: technical, consulting and client-based work, and management. He believes that important decision-makers should have a deep understanding of all aspects affecting every decision. He enjoys dealing with data, data optimization, and detecting problems with data interpretation, and may consider pursuing a career in data analytics and data science.

Mihailo Cvetkovic’s thoughts on the evolution of actuarial practice: “In the future, I believe the actuarial science skill set will change such that actuaries will need to know more computer programming. With the popular predictions of how self-driving vehicles will change the auto insurance industry from insuring drivers to cyber insurance—insuring peoples' cars against malware and being hacked into—this will be a big step of pushing actuarial science in the direction of computer programming. Since actuarial science is a profession where we always want more data, we are going to want copious amounts of data on why certain systems get hacked into, how they get hacked into, and what type of person is more likely to get hacked.”