GIS @ ASU News Archive 2017-2018

June 18, 2018
By Garrett Deimund and Hailey Walters

Maintaining a strong relationship with alumni is essential in strengthening the connection between students and professional industry. These relationships lead to internships and other valuable opportunities. During the week of June 10-16, the Gamma Iota Sigma Alumni Council hosted its inaugural “Alumni Week” to strengthen these relationships. Alumni chapters across the country hosted networking events for students, alumni, and insurance industry professionals.

The Scottsdale Alumni Council hosted a happy hour at Social Tap in downtown Scottsdale to celebrate the inaugural Alumni Week. The Arizona CPCU Chapter and Nationwide E&S/Specialty generously sponsored the networking event. Traci Smith of Markel Corporation, Zach Hutson of Nautilus Insurance, and Jelena Milovanovic of Arizona State University worked hard organizing the event and securing funding. The efforts of these individuals are deeply appreciated among students and alumni.

The night was a huge success with over 40 attendees, including interns, GIS @ ASU members, and local industry representatives. Attendees spent more than two hours mingling over drinks and appetizers and getting to know new faces and out-of-town visitors. CPCU representative and long-time GIS @ ASU supporter, Lamont Boyd, was present to interact with students and alumni who frequent the organization’s luncheons. Steven Locke, GIS @ ASU alumnus, was also in attendance, exchanging stories with current students.

GIS @ ASU would like to thank Scottsdale Alumni Council and everyone who attended the first GIS Alumni Week happy hour for making it so successful. GIS @ ASU looks forward to more opportunities to network with the local insurance community, and eagerly awaits next year’s Alumni Week.

June 6, 2018
By Kinsey Turk

On June 1, Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) members attended the Casualty Actuaries of the Desert States (CADS) Spring 2018 Meeting, held at Nautilus Insurance Group in Scottsdale, AZ. CADS is a professional organization committed to the support and continual education of actuaries throughout the states of Arizona, Nevada, and New Mexico. Their meetings consist of engaging presentations that span a wide range of insurance topics. This event gave GIS @ ASU members an in-depth look into the professional lives of actuaries and the chance to expand their knowledge outside of the classroom.

The meeting was kicked off with an introduction from Ken Levine, CADS president and Nationwide E&S/Specialty vice president of finance. Levine welcomed everyone for attending, and provided brief biographies of the upcoming speakers. CADS places an emphasis on the validation of hard work, and takes time at the beginning of each meeting to acknowledge its members’ recent accomplishments. First, any member that recently became an associate or a fellow was asked to stand so the audience could congratulate them. Among those being recognized was GIS @ ASU’s alumnus, Jeff Durham, who just achieved his ACAS. Recognized next were those who had passed an actuarial exam since the last meeting, which included many GIS @ ASU members. Seeing the success of current members and their future accomplishments is incredibly rewarding.

In addition, two recent graduates of GIS @ ASU had the opportunity to present their senior theses. Jennifer Zhang presented her thesis on using generalized linear models to develop loss triangles in reserving. Using her model, loss triangles accounted for calendar year trends and analyzed how well current reserving practices are performing. Next, Bo Swoverland presented his thesis focused on modeling loss development factors for catastrophe claims. By using data on claims as recent as 2016 supplied by a local company, Swoverland created a linear model to predict claims within the first year of a catastrophe. Both graduates demonstrated the increasing development and growth in research that is taking place throughout the industry.

Several other presentations were given by CADS actuaries including chief actuary of Nationwide, Scott Roth, who discussed insuring Fannie Mae, and GIS @ ASU’s professor John Zicarelli, who discussed Markov Chain Monte Carlo (MCMC) Simulations – one of the top ten most influential algorithms of the past decades. The meeting also featured a presentation by Kim Jones, ASU professor and security manager, about how to manage a different type of risk: cyber security.

Altogether, the CADS Spring Meeting was a great opportunity for actuaries of all levels to join one another outside the work-setting and celebrate the profession. Everyone walked away with an increased appreciation for the industry and amplified knowledge. After all, as Ken Levine said, “We are all life-long learners.”

April 23, 2018
By Hailey Walters

On April 18, dozens of officers and members of ASU clubs gathered at the Passing the Pitchfork leadership banquet. These clubs ranged from honors fraternities to dance groups to philanthropy clubs, each of which impacted ASU’s campus in numerous positive ways. The Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) officers and officer-elects attended this dinner to participate in the ceremony of transferring responsibility and opportunity.

As the spring semester comes to a close, GIS @ ASU is getting ready for a new year full of events, conferences, workshops, and competitions. This event was a perfect way for the chapter to bid a proper farewell to exiting officers Jennifer Zhang (President), Bo Swoverland (Vice President), and Brendan Sturm (Treasurer). Not only are Jennifer and Bo outgoing officers, but they are also outgoing students, as they will be graduating in May with their bachelor of science degrees in actuarial science. This dinner served as one of the last hoorahs for the seniors, as they finish up their academic careers and prepare to transition into working full-time.

When asked what he will miss most about being an officer of GIS @ ASU, Bo replied, “The camaraderie that the club provided me. I’m glad to have made so many connections and friendships with my fellow classmates that will last throughout my working career.”  

Many of his peers agree that the best part of Gamma Iota Sigma is the community that the members have built together. GIS @ ASU is sad to see the current officers go, but excited for what the future holds for them, as well as for the incoming officers.

April 20, 2018
By Maja Stefanovic and Hailey Walters

On April 6-7, 2018, the Wholesale and Specialty Insurance Association (WSIA) partnered with the School of Mathematical and Statistical Sciences (SoMSS) at ASU to host its first ever “Risky Business” symposium in Tempe, AZ. The WSIA is a professional organization that supports insurance professionals from about 800 companies that operate in the excess and surplus lines (E&S). While providing networking opportunities for its members is one of the association’s core goals, the WSIA also dedicates itself to supporting college students majoring in risk management and insurance by offering a variety of educational and outreach programs.

Throughout the year, the association hosts symposiums for students interested in the insurance industry. These symposiums generally give students the opportunity to attend everything from career fairs to networking events to educational sessions, thus helping students jump start their career in insurance. This year’s symposium was the organization’s first ever foray into the southwest, and the Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) members had the chance to participate.

The weekend began on Friday, when students from all over the country traveled to the Hilton Garden Inn in Tempe, where the symposium was hosted. Assisted by officers from the GIS @ ASU chapter, these students checked in and attended a career fair. This three-hour event featured nine different companies that write E&S business, giving students the opportunity to meet industry representatives and learn about the many career options available to a student interested in insurance.

Following the career fair, students were invited to the first session of the symposium: “WSIA and You”, presented by WSIA President, Brian Van Cleave. Cleave provided a concise introduction to the WSIA and the unique benefit of working in excess and surplus lines. His presentation was a great introduction to Saturday’s educational sessions, and it had the added benefit of showcasing the resources that the WSIA makes available to students (like scholarships, internships, and various conferences).

That evening, students had the opportunity to continue their conversations at a networking event hosted at Top Golf in Scottsdale. Students had the opportunity to meet their peers from other universities as well as representatives from local companies while enjoying dinner and golf together.

The symposium continued bright and early on Saturday morning with breakfast and an opening session held by Chris Behymer of Markel. Behymer gave a detailed explanation of “Surplus Lines Distributions Systems”, and offered advice in the form of “insurance truths”. To reinforce the concepts mentioned in his talk, various GIS alumni members then administered a case study that gave students the chance to build spaghetti-and-marshmallow structures, price policies for the structures, and underwrite the risks faced by the structures. The lecture and simulation gave students an introduction to the various careers available in insurance, from actuarial to underwriting to claims handling.

This knowledge was further reinforced by “Presidents’ Panel” that highlighted the experiences of Brian Gray of Markel, Tim Chaix of R.E. Chaix & Associates Insurance Brokers, Inc., and Brian Van Cleave of Euclid Architects & Engineers. Moderated by Traci Smith, a GIS alum, this panel gave students the chance to ask about everything from working in insurance to challenges in the insurance marketplace in the future.

Two sessions remained after lunch, and they had one thing in common; young professionals in the industry. Jeff Durham of Allstate, Samuel Cleveland of Nationwide, and Zachary Luety of GPW presented topics of their choice during the “Actuaries in Action” session. Learning about decision-making, catastrophes, and the benefits of programming is especially important for the up-and-coming students of this industry, because they need to keep up to date on trends and skills that will make them more attractive to future employers.

The last session was the “Young Professionals’ Panel”, featuring Traci Smith of Markel, Zach Hutson and Steven Locke of Nautilus Insurance Group, Jeff Durham of Allstate, and Kelsi Knoles of Nationwide E&S/Specialty. The panel was moderated by Ken Levine, the CFO of Nationwide E&S/Specialty, who was able to provide his own interesting insight and anecdotes. Similar to the previous panel, students could ask the panelists questions about their time in school, their studying processes, and their transition from college to working full-time. This advice is invaluable to students of all ages, but was especially applicable to upperclassmen seeking jobs in various E&S companies.

The WSIA succeeded in putting on a student-oriented symposium with interesting and relevant learning sessions, as well as great opportunities for students to make connections with one another. GIS @ ASU wants to give a huge thank you to all the individuals who made this event possible—the students can’t wait to attend next year’s Risky Business Symposium.

April 9, 2018
By Maja Stefanovic

On March 28 Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) members attended the Arizona Actuarial Club’s spring meeting. The Arizona Actuarial Club is a professional organization comprised of members from local insurance and consulting companies who are dedicated to continuous learning and development. The club hosts informative presentations twice a year for members to broaden their knowledge, stay up to date with the insurance industry, and network with local actuarial professionals.

Daniel Bauer, an associate professor at the University of Alabama, was invited to present on capital allocation at the spring meeting. He teaches actuarial science, analytics, and quantitative finance classes. In addition, Bauer is the Dai-ichi Life Insurance Company Endowed Chair in Actuarial Science and Risk Management, where he leads the college’s actuarial science academic program.

To kick off the presentation, Bauer explained that capital allocation is the determination of the amount of a firm’s capital that will be assigned to each line of business. Since each line of business that is undertaken by a firm shares a different pool of risk, capital is allocated to maximize the firm’s profit. Although capital allocation is commonly used for the purposes of pricing and performance measurement by financial institutions, scholars have shared criticism about the coherent approaches for capital allocation and its necessity.

The argument is that risk measure is arbitrary and may not connect to the underlying economics of the business. However, through the discussion of risk measurement, calculation of risk-adjusted return ratios, and showing the differences in asset and liability risk, Bauer was able to prove that capital allocation can be and should be grounded in an economic context.

Overall, the presentation was highly informative and a valuable experience for all attendees. Members also had the added benefit of being able to build connections with local actuarial professionals that attended the meeting. GIS @ ASU members look forward to attending the Arizona Actuarial Club’s fall meeting.

April 7, 2018
By Garrett Deimund

On March 20, Humana representatives Michael Webb and Matt Coles visited the Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU), traveling all the way from their company headquarters in Louisville, Kentucky. Humana currently offers an Early Career Development and Shadowing Experience for freshmen that gives them insight into various insurance careers. One of our own members, Ainsley Ramsey, participated in this development program and will be interning for Humana for this coming summer.

Although they were not looking to fill internship positions, they were able to provide GIS members with something just as valuable: advice on landing their dream job. Webb currently works as a consultant in the office of Humana’s chief actuary, leading recruitment and developing initiatives for their actuarial community. Through this role, Webb has developed three steps that he believes are instrumental in helping one land their dream job: building a personal brand, networking, and interviewing.

Learning how to market yourself and interact with future employers effectively are extremely valuable skills for all students to possess. By creating a unique resume and perfecting your “elevator speech”, you are able to better distinguish yourself from other candidates. This step is just as important as the interview itself, and often helps you land the interview in the first place. Webb touched on what you should do during an interview, such as maintain good body language and aski meaningful questions, as well as what you should avoid, such as looking at your watch and answering the interviewer’s question before they have finished speaking.

Webb concluded the presentation by introducing behavioral interview questions and explaining the STAR method. Most behavioral interview questions will begin by “tell me about a time when…” and will continue on to ask for a scenario in which the interviewee demonstrated some type of skill that the interviewer wants to hear about. The STAR method is a great approach to these questions, and Webb went over the method and immediately put it to the test.

The first step in answering these questions is explaining the “Situation” at hand. Next, students are advised to discuss the “Task” or “Action” that they personally took to accomplish their goal or overcome their hardship. Last, the response wraps up with the “Result”, where the students discuss the outcome of the entire situation and what they learned.

Webb decided to give the students more experience with this method and took volunteers from the audience to ask them a few sample questions, interview-style. After they answered the question, he provided suggestions on how they could improve their responses. The advice included how to choose scenarios that best fit the question, how to create concise conclusions that sum up the entire story, and how to effectively share the lesson learned.

This demonstration and overall presentation helped both the participants and other audience members feel better prepared for future interviews and become more familiar with potential interview questions. As acquiring an internship is invaluable experience for actuarial science students, GIS @ ASU would like to thank Humana for taking the time to come and present on this very important topic and giving its members the tools they need to succeed in the workforce.

March 30, 2018
By Maja Stefanovic

On March 22, Gamma Iota Sigma Kappa Chapter (GIS @ ASU) members enjoyed their night watching the Arizona Diamondbacks take on the Chicago White Sox and networking with members of the Scottsdale Gamma Alumni Chapter. Although the outcome of the game was not favorable for Arizona baseball fans, with the Diamondbacks losing 3-1 to the White Sox, the event was still a great opportunity for members to escape the classroom and continue to build relationships with local GIS alumni.

The student-alumni events are an especially effective way to grow the students’ knowledge of the industry, since the GIS alumni have a wealth of experience and skills to share with them. At this event, GIS members got to interact with four local GIS alumni: Traci Smith from Markel, Zach Hutson from Nautilus Insurance, Laura Barron from All Risks, and Zach Broermann from United Healthcare.

“These events provide a way for us to give back to programs like Gamma Iota Sigma that were so vital to our success as students and young professionals,” shared Traci Smith. “Most young professionals are in a ‘mentee’ position of some sort, but a lot can be learned from being a mentor to someone else when you have been in their situation. It’s really rewarding to be an outside source for students as they prepare to graduate and start their own careers.”

According to the U.S. Bureau of Labor Statistics, 70% of jobs are found through some form of networking. GIS @ ASU members take full advantage of opportunities to establish connections and network with professionals. At the student-alumni social events, students interact, get to know one another, and gain professional advice. The club is excited about the next student-alumni event, which will take place during GIS alumni week from June 10-16.

March 28, 2018
By Christine Liu

During the weekend of March 23 through March 25, 2018, the School of Mathematical and Statistical Sciences, in partnership with with the Arizona Chapter of the American Statistical Association, hosted the first ever DataFest at Arizona State University. The event is a nationally-coordinated annual data hackathon organized by the American Statistical Association (ASA) in which teams of two to five undergraduate students are given a rich, complex, real-world data set and a limited time frame in which they must work together to analyze and extract meaning and present their findings to a panel of judges.

Fifteen teams of students participated in this year’s DataFest at ASU. No information about the source or content of the data was made available to the teams until the start of the event at 6:00 p.m. on Friday, March 23. The event occurs across several universities nationwide over seven weeks from mid-March to early May, and participants at all locations agree not to disclose information about the company that provided the data or about the data they were given. The teams then have less than 48 hours to make ‘sense of the data’, run statistical analyses, and prepare a short presentation by 1:00 p.m. on Sunday, March 25. ASU faculty, graduate students, and industry professionals with expertise in statistical analysis were available as mentors throughout the event to provide guidance and support.

This year’s event featured a large data set provided by a well-known national technology firm. A representative from the company served on a judge’s panel that was composed of a mix of leaders in academia and industry. Each team’s final presentation had to be less than five minutes long and make use of no more than two slides. Winners were awarded in the categories of Best in Show, Best Visualization, Best Use of External Data, and Best Business Insight or Value. GIS @ ASU members Gabriel Clonts and Christine Liu, along with other members of “Team - Average” Mehdi Moustaoui and Alexandra Ryazanova, were awarded Best Visualization.

For many participants, the event presented an intense experience due to the pressure of the short amount of time in which they had to explore the data, design effective visualizations, and prepare a cohesive presentation. The students came away from the experience with invaluable insight into the process that professional statisticians and analysts go through in their jobs every day. They also had the added benefit of being able to increase their skill set in working with statistical software in a very short amount of time as well as the opportunity to expand their professional networks. GIS @ ASU looks to participate in events like DataFest in the future!

March 7, 2018
By Hailey Walters

The Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU), and ASU’s School of Mathematical and Statistical Sciences, both place value in the exchange of knowledge and experiences, especially among students and faculty. Charles Wexler maintained that same value ever since he founded the Department of Mathematics in 1930. Wexler remained the sole math teacher at ASU for 11 years, and taught at ASU for 47 years, a record-breaking period of service for the university.

Dr. Jonathan Wexler, son of Charles Wexler, created a fund in his name and his mother's name, to honor his family's legacy in mathematics at Arizona State University by enhancing mathematics through social programs, such as the dinners, benefiting students and faculty in the school.

Every year, the school hosts the annual Wexler Mathematical Sciences Senior Dinner. This dinner is a fantastic way for seniors majoring in the school to spend an evening socializing with other students, as well as math and stats faculty. This year, thanks to the generosity of the Wexlers, the school was able to also host the Inaugural Mathematical Sciences Junior Dinner! Following in the footsteps of the senior dinner, this dinner allows for juniors to get to know each other and communicate with faculty that they may or may not have taken classes with.

Two members of GIS @ ASU, Brendan Sturm and Hailey Walters, were very pleased to have been invited to the first of many Wexler Math Junior Dinners. Since actuarial science students don’t take as many pure mathematics courses as other math majors, this event served as a great opportunity to mingle with students and professors they have not yet met.

The event kicked off at 5:30 pm, on Tuesday, February 20, with some hors d’oeuvres and refreshments in the University Club on the Tempe campus. After some brief discussions and several group photos, it was time for dinner! Faculty and professors were placed among several tables, and students were able to seat themselves among them, to ensure that every faculty member was surrounded by four students. Throughout dinner the students and faculty maintained upbeat and lighthearted conversations about their studies and future plans.

When dessert came, the students up and switched seats so they could maximize their experience at this dinner and spend time talking to as many faculty members as possible. Rhonda Olson, manager of marketing and communication for the school, declared that there is no better time than right now to make connections with your peers, and these relationships will benefit you in plenty of ways in the future.

This dinner was very valuable to the students and faculty who attended and will continue to be a beneficial experience for future invitees. GIS @ ASU is excited to see its members building their relationships with other math students and cannot wait to participate in more events like this one!

February 27, 2018
By Maja Stefanovic

Every year, Arizona State University opens its doors to the local community during its Open Door event. This family-friendly event gives visitors the opportunity to experience ASU firsthand and take a peek into what happens inside the classrooms of the most innovative university in the nation. Children of all ages can let their imagination run wild while exploring laboratories, living collections, museums, and classrooms to participate in hands-on activities. The interactive hands-on activities offer a wide spectrum of sciences, technology, engineering, mathematics, humanities, and the arts.

The School of Mathematical and Statistical Sciences (SoMSS) is a major partner in the ASU Open Door. On February 24, Gamma Iota Sigma Kappa Chapter (GIS @ ASU) members gave back to the community by volunteering during the Open Door event. Each member that participated agrees that it is a tremendously rewarding endeavor to inspire the next generation of actuaries, statisticians, and mathematicians. Members set up hands-on activities and fun demonstrations that showcase talent and ingenuity of our SoMSS faculty and students. Children were able to broaden their mathematical knowledge by creating paper plate polyhedrons, gum drop and toothpick tetrahedrons, and geometrical shapes with balloons.

The members of GIS @ ASU value the opportunity to help children expand their educational experience. The club is very excited to continue furthering its connection with ASU and the community.

February 19, 2018
By Garrett Deimund

On February 15, the School of Mathematical and Statistical Sciences hosted its third annual Actuarial Science Career Day. These events are excellent ways for students to build connections with potential employers while also hearing worthwhile career advice from industry practitioners. This year’s career day, which gave actuarial science students the opportunity to network with actuaries and analysts from across the nation, boasted record attendance with representatives from 23 insurance and consulting companies totaling just under 60 professionals. New this year, the student audience consisted of a dozen actuarial science students from the University of Arizona and Northern Arizona University. This is the first step in building a collaborative relationship amongst the Arizona universities and their respective actuarial science programs. The event consisted of two informative industry panels, one-on-one speed interviews, and open networking sessions between all students and companies.
 
The career day began with Al Boggess, director of the School of Mathematical and Statistical Sciences, welcoming both the students and employers. Boggess then introduced the ASU Alumni panel, moderated by Jeff Durham, the first graduate from the actuarial science program at ASU. The panelists were recent actuarial science graduates and included Zach Broermann, Shea Ingram, Kelsi Knoles, Julie Tang, and Steven Locke. The panelists answered students’ questions spanning from how they became involved with actuarial science, to tips for applying to internships and full-time positions.

Following the panel, students spent the next hour networking and participating in prescheduled one-on-one speed interviews. Next up was the Senior Actuaries in Action panel, featuring six accomplished actuaries from distinct insurance and consulting firms. The panel was led by Ken Levine, former chief actuary and now CFO at Nationwide E&S/Specialty. Levine also teaches a seminar course at ASU titled Business Personations. Panelists shared insight about the work they do in their current roles, tips on how to best prepare for interviews, and how students can make themselves more marketable. The senior actuaries also offered their predictions for the future of the actuarial profession, as well as tips on being successful in a full-time analyst position. The career day ended with one final networking session, giving students another opportunity to interact with potential employers.

Almost a dozen attending companies were looking to fill full-time or internship positions, giving actuarial science students of all levels the chance to gain valuable industry experience. Overall the event was a huge success, with students learning more about local and regional insurance and consulting companies, while simultaneously marketing themselves to these prospective future employers. The industry professionals also discovered more about the future actuarial science graduates, further cementing the relationship between the industry and the actuarial science program at ASU.

January 29, 2018
By Hailey Walters

The Gamma Iota Sigma Kappa chapter at ASU (GIS @ ASU) is extremely eager to host the Actuarial Science Career Day on February 15, and has spent much of January preparing its students for the event. This week, GIS @ ASU wanted to focus on ensuring that students start out on the right foot with their potential employers. Resumes are often the very first link between candidates and employers. Therefore, the club decided to hold a resume workshop to help students refine their resumes.
    
Following a successful personal statement workshop, GIS @ ASU held a resume workshop on Tuesday, January 23. Students in many different stages of the program attended in preparation for the career day and brought rough drafts of their own resumes. The meeting began with a brief overview of the types of elements found in well-written resumes — specifically, what details to include, what diction to use, and what kind of information is relevant to employers.
    
After the brief introduction, it was time for students to receive all the peer feedback they could get on their resumes. Officers of the club and faculty members looked over countless resumes and made suggestions for each. Feedback ranged from formatting suggestions to constructive criticism on the content. Members of the club also looked at other members’ resumes to get a feel for what other students at similar levels included on their resumes.
    
The resume workshop provided a unique opportunity for members to get to know each other by examining and critiquing each other’s resumes. At the same time, every student became one step closer to leaving a lasting impression on companies at the career day. After two successful workshops this spring semester, there is no doubt that GIS @ ASU will continue to host these types of meetings for the betterment of its members

January 21, 2018
By Hailey Walters

Gamma Iota Sigma Kappa at ASU (GIS @ ASU) encourages its students to strive for success. While pursuing a degree as rigorous as actuarial science, GIS @ ASU wants to ensure that its students have all the resources they need in order to focus on their work and community involvement. Some of these critical resources are scholarships. This spring, ASU’s School of Mathematical and Statistical Sciences is offering 14 undergraduate scholarships, including nine specifically designed for actuarial students.

The key to successfully obtaining a scholarship is crafting a unique personal statement, one that encapsulates your achievements, as well as your personality. GIS @ ASU’s Jennifer Zhang lead a personal statement workshop on January 16. Students in the actuarial science program were invited to create rough drafts of their personal statements to bring to the workshop and receive peer feedback.

Zhang began the meeting with a brief overview of the scholarships that are available to the undergraduate students, and then transitioned into teaching the essential elements to include in a personal statement. The students had the opportunity to review and provide feedback on some examples of personal statements that were well-articulated and those that still needed a little work.

Zhang taught that personal statements should show who you are and set you apart from the crowd. She made certain to emphasize that it is important to be genuine. When applying for a job, resumes will show achievements, but personal statements will explain what you learned from them and how you plan on incorporating them in your life later on down the road. If written well, personal statements give potential employers the chance to really get to know their candidates.

The students who attended this event were able to more fully understand the fundamentals of writing a personal statement and walk away with some useful peer feedback. GIS @ ASU looks forward to hosting more insightful workshops like this in the future.

January 19, 2018
By Maja Stefanovic

Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) member, Maja Stefanovic, was recently honored with the Elizabeth A. Kocur Memorial Scholarship through The Institutes Griffith Education Foundation. The Griffith Foundation provides scholarships to students studying insurance, risk management, and actuarial science across the country. The foundation strives to fill the need of preparing future professionals for the insurance industry by providing them with educational aid.

“I was very thrilled to learn that I was selected as a recipient of the Elizabeth A. Kocur Memorial Scholarship,” said Stefanovic. “I am grateful to find scholarship opportunities such as the ones The Institutes Griffith Insurance Education Foundation offers. It makes me feel that I am not alone in accomplishing my educational goals.”

GIS @ ASU is proud to have a member receive such a generous scholarship from The Institutes Griffith Insurance Education Foundation. Stefanovic also received the Arizona CPCU and Tom and Zona Lorig scholarships in the past year. As a junior, Stefanovic has passed two actuarial exams and will be starting her second actuarial internship this summer.

December 1, 2017
By Maja Stefanovic

On November 17, Gamma Iota Sigma Kappa Chapter at ASU members attended the Casualty Actuaries of Desert States (CADS) fall meeting. CADS is a professional actuarial club comprised of property and casualty (P&C) actuaries in the desert states of Arizona, Nevada, and New Mexico. The club meets twice a year for members to network, broaden their knowledge, and stay up to date with the industry. This year’s fall meeting was hosted at the University Club of Arizona State University.

Steven Armstrong, CAS vice president of admissions, kicked off the meeting by sharing an update from the CAS board. He noted that the CAS will be transitioning their exams to a computer-based environment, Technology-Based Examination (TBE). Beginning in spring 2018 with Exam 5, candidates will take their exams using Microsoft Excel. TBE will allow candidates to take remotely proctored exams on their own computers at a location most convenient (home, office, etc.) during a designated time window. Through TBE, the CAS hopes to make their exams more relevant to real-life actuarial applications.

Justin Panther, senior manager for catastrophe modeling and analytics at Allstate Insurance Company, shared how catastrophe models are constructed. Panther also touched on emerging trends that could disrupt the catastrophe modeling industry. He defined “catastrophe” in the property insurance industry as a severe natural or man-made disaster with claims expected to reach at least $25 million. With an increase in the number of natural disasters occurring in 2017 as compared to prior years, Panther’s presentation on modeling catastrophes was extremely relevant. Climate change experts warn that rising sea levels will produce higher storm surges and more devastating floods in the future, which could further disrupt insurance companies’ catastrophe models.

A variety of breakthrough technologies are set to spur a fundamental transition in the insurance industry. Mark Farrell shared how wearable technology is affecting health insurers. Farrell is a senior lecturer and program director of actuarial science at Queen’s University Belfast in Northern Ireland. In addition, Farrell is a 2017-2018 Fulbright Scholar at Arizona State University. Through advancements in technology, there is increasing access to self-quantified behavior and biometric information about one’s personal health. For example, new biometric sensors and smartwatches can measure heart rate, blood pressure, oxygen, and glucose levels, while providing real-time data. This information has tremendous implications on health insurers with its ability to provide new ways to measure, control, and price risk. Wearable technology also gives insurers an opportunity to better engage with customers.

As a student, demonstrating professionalism can benefit your reputation, moral, and success. The same is true for professionals with many years of experience in the workplace. Continuing professional development is important because it ensures that you continue to be competent in your profession. Ester Becker found the perfect way to end the meeting: professionalism skits! This interactive session covered several topics including reviews of the code of conduct and actuarial standards of practice. The skits gave the attendees a chance to discuss actuarial professionalism.

Overall, the CADS meeting was highly informative with a wide variety of interesting topics. In addition to exposure to various topics in the P&C insurance world, students were also able to network with industry professionals during the breaks.

November 16, 2017
By Hailey Walters

A career in actuarial science is not just contingent on successful passage of exams; becoming a part of a supportive professional organization is just as crucial. For actuaries in the property and casualty (P&C) industry, this organization is the Casualty Actuarial Society (CAS), founded in 1914 to support actuaries and actuarial students in education, credentialing, and research. The CAS has only grown since its establishment, and today serves over 8,000 members all over the world.

Every year, the CAS hosts an annual meeting and provides its members with unlimited opportunities for learning, networking, and professional growth. This year’s meeting was held November 6-8 in Anaheim, California, and students from the Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) were invited to attend the Student Program. Faculty members Dr. Jelena Milovanovic and Dr. John Zicarelli accompanied the students, participating in various networking events and educational sessions over the three days.

The CAS Student Program is unique in that it is designed for college students interested in becoming a P&C actuary. Students began the day with an introduction to the P&C insurance industry and the actuarial profession, where they learned about both the traditional and unconventional roles played by actuaries of all kinds. Over the course of a day, the students also had the chance to meet and network with various mentors, credentialed actuaries who volunteered to tell of their experience. A well-organized “speed networking” session gave students the chance to interact with many different professionals working in a variety of fields, from insurance to consulting. Hearing the different perspectives was invaluable, as it highlighted the various career paths that are available.

Three GIS @ ASU students also had the privilege of presenting during the morning session of the student program. Brendan Sturm, Robert (Bo) Swoverland, and Zhihan (Jennifer) Zhang began their presentation by playing an insurance simulation involving marshmallow-and-spaghetti structures, which they put through hazards like an earthquake and a hurricane. This was designed to simulate a rate indication—the students were split into teams, and each team’s building symbolized one year of experience for a hypothetical company. Based on the value of the structures (i.e. the number of spaghetti sticks and marshmallows used) and the property damage, the presenters calculated the rate change that would be appropriate for the company.

Although the simulation used manually-selected dummy data, the process of working through a rate indication is one that all three presenters went through at various internships. This served as the foundation for the latter half of the session, which was designed to be a Q&A panel. Brendan, Bo, and Jennifer shared their experiences in health, life, and P&C internships with the students, answering everything from “How do you find an internship” to “What was the most interesting project you worked on.” The interactive setting gave the attending students a chance to ask questions to other students directly, which helped to engage and excite the crowd.

The Student Program was an incredible experience for all of the students who had the pleasure of attending. The students had access to exclusive facetime with the industry’s actuaries and got to ask an abundance of questions in a supportive environment. GIS @ ASU’s members enjoyed the entire experience and is eagerly awaiting next year’s meeting!

October 30, 2017
By Maja Stefanovic

On October 18, Gamma Iota Sigma Kappa Chapter at ASU (GIS @ ASU) members attended the Arizona Actuarial Club’s fall meeting. The Arizona Actuarial Club is a professional organization whose members come from various local insurance and consulting companies. The club is a valuable resource that helps grow the actuarial profession by offering local continuing education and networking opportunities. For this year’s fall meeting, professor Paul McNicholas from McMaster University in Canada visited Arizona to educate local industry professionals on cluster-weighted models and machine learning for insurance data.

As a Professor and Canada Research Chair in Computational Statistics in the Department of Mathematics and Statistics at McMaster University, McNicholas is involved in conducting research that focuses on computational statistics. Although Dr. McNicholas’ research focuses on the statistics behind clustering and classification, including cluster-weighted models, and not insurance specifically, his findings can be applied to various insurance concepts.

McNicholas started off his presentation by first explaining the definition of a cluster in his own words: “a cluster is a unimodal component within an appropriate finite mixture model,” where an appropriate mixture model is one with components that have the necessary parameterization to fit the data. For example, if the data contains skewed clusters, then the mixture model should have components that parameterize skewness. These models also can be used to deal with missing or censored information, which is a problem often faced by actuaries working with insufficient or incomplete data.

The potential of cluster weighted models for insurance data was illustrated using various data sets, showing a practical application of the theoretical ideas. This research was carried out with Dr. Petar Jevtic and graduate students from McMaster university. Dr. Jevtic recently joined ASU’s School of Mathematical and Statistical Sciences as an assistant professor specializing in both actuarial science and mathematical finance.

October 23, 2017
By Hailey Walters

On Tuesday, October 17th, for the second year in a row, Nationwide E&S/Specialty hosted one of Gamma Iota Sigma Kappa Chapter at ASU’s (GIS @ ASU) club meetings. The representatives from the company prepared a fun night of insurance-related activities and games. The event was a great chance for students to take a break from studying for exams, and the event was well-attended by actuarial science and risk management students alike.

The night began with a brief networking period, giving students the opportunity to socialize with both Nationwide’s representatives and other students in the programs. Nationwide currently has internships available for the spring and summer of 2018, so this networking session provided the representatives with the opportunity to meet and interact with potential interns. Shortly after networking, the students were split into groups of four and sent into one of three classrooms, each corresponding to a different game that Nationwide created.

About half of the teams began by playing “Towers of Insurance,” which simulated the pricing process. At the beginning, each group’s objective was to create the tallest and strongest structure they could using various objects: graham crackers, uncooked spaghetti, marshmallows, and paperclips. Once finished, each structure was priced based on the materials used and then inspected closely by other groups. Upon inspection, each group then acted as an insurance company and determined what they would charge to insure each structure. The lowest price for each structure was the policy purchased, and some groups ended up insuring more structures than others. The structures were then subjected to a series of perils: earthquake, hail, flood, and wind. Once the disasters were over, the insurance companies had to pay for the losses. The group with the highest net income in the end won the game!



Every group also played Nationwide’s version of “Pictionary” and “Insurance Against Humanity.” In Pictionary, the students took turns drawing items from a list of things most likely to be insured by an excess and surplus lines insurance company, and the members of their team had to guess each item being drawn. This activity introduced students to the myriad of programs offered by companies like Nationwide. Insurance Against Humanity was an enjoyable fill-in-the-blank card game in which the students chose from an assortment of terms to fill the blank of an insurance or Nationwide-related sentence. Each round’s winner was chosen by a different player who judged based on humor, wit, or logic.



Once all of the games had been played, scores were added up to determine which team had the highest score overall. The winning team consisted of Kinsey Turk, Katie Fricker, Robert (Bo) Swoverland, and Ainsley Ramsay (not pictured).



GIS @ ASU had an amazing time with Nationwide and the students enjoyed getting to know the representatives and other members throughout these games. The club is eagerly awaiting the next Nationwide visit!

September 21, 2017
By Maja Stefanovic and Zhihan Jennifer Zhang

On September 12, 2017, Mercer came to the GIS Kappa chapter at ASU, bringing not only information about the opportunities available at the company but also a fun activity for students – THE MERCER RACE!

Eight Mercer representatives kicked off the event by introducing the company and announcing the opening of several internship and full-time positions in Phoenix to approximately 40 GIS @ ASU chapter members. Amongst the Mercer representatives were several former ASU graduates, including Chris Dunker and Shea Ingram. Dunker’s internship at Mercer turned into a career half a decade ago, and for the last couple of years he has been coordinating the internship program at Mercer. Ingram is one of the former graduates of ASU’s actuarial science program, and his support for the program (as shown by his attendance at our events) is invaluable.

The Mercer representations opened the meeting by briefly introducing the company to our students. Although Mercer overall encompasses several lines of business, including health, wealth , and career strategy, the Phoenix office specifically operates within the government human services consulting sector, which works primarily on Medicaid programs. Mercer is also the world’s largest human resources consulting firm with more than 20,500 employees and operations in 130 countries around the world, making Mercer attractive to a wide variety of ASU students.

After the brief introduction of the company, The Mercer Race was on! Students were split into six different teams to compete in three challenges: mini-golf course, a selfie-stick exercise, and a Jenga. These challenges not only helped students get to know each other better, but also gave the company a chance to observe potential candidates in team-building settings. The event ended with dinner and networking at Postino’s, giving students an opportunity to network with Mercer employees.

ASU’s actuarial science program is fortunate to have Mercer’s support, as they are one of the biggest health consulting companies in the valley. After a successful Mercer’s campus visit, it is now up to the ASU students to impress Mercer recruiters at the first round interviews on campus on October 13. We hope that many our students will be accepted for Mercer’s summer 2018 internship positions, and we look forward to building our relationship with the company in the future.

September 11, 2017
By Zhihan Jennifer Zhang

To kick off the new school year, Gamma Iota Sigma’s Kappa chapter at ASU invited Allstate to host its first meeting on Tuesday, August 29. Almost 70 students attended, setting the record for the biggest GIS @ ASU meeting and reflecting the value of ASU’s burgeoning actuarial science program. This first meeting gave new members the opportunity to meet not only the officers of the club but also alumni and representatives from Allstate, the largest publicly-held property and casualty insurer in the US.

The evening’s activities were organized by Allstate’s Actuarial Talent Director Lynn Gehant and Senior Actuarial Assistant Katie Urso. After giving students an overview of Allstate’s actuarial program, Gehant and Urso set up a simulation to teach students basic insurance concepts like loss exposure, premiums, claims, deductibles, adverse selection, and underwriting techniques.

About a third of the students were sorted into four different “insurance companies” with the rest of the students acting as “consumers” who could buy policies from any company. These consumers “modeled” the probability of an auto accident by throwing tennis balls into a trash can, where a miss indicated a loss. The insurance companies observed this process and tried to set premiums to maximize their profit, paying back their insureds for any losses experienced. This simulation taught actuarial concepts in a very practical setting, and new members especially learned a lot from the experience.

ASU students were not the only ones participating in the event; GIS alumni Jeff Durham, Stephen Evilsizor, and Steven Locke also came to add their insight and mentor new students. Giving students the opportunity the engage with alumni is extremely important because alumni members can relate most closely with current students. Their advice and mentoring is invaluable, and the chapter is thankful that these former students were willing to take the time to meet the program’s newest freshmen class.

Of course, networking with Allstate’s representatives was highlight of the evening. Allstate is not only currently looking for its next cohort of summer interns but also hiring for their new location in Mesa, AZ. This experience gave prospective applicants a chance to ask questions about their program and simultaneously showcased ASU’s talented students to the company. GIS@ASU is very excited for Allstate’s expansion to Arizona, and we look forward to further building our relationship with the company!

August 18, 2017
By Zhihan Jennifer Zhang

Although Arizona State University’s (ASU) actuarial science program places great emphasis on teaching students how to become successful actuaries in a corporate setting, the program does not hesitate to promote individual research projects. Recently, the school sent two undergraduate students to the 52nd annual Actuarial Research Conference (ARC) in Atlanta, Georgia to present their Barrett thesis projects. The conference was a great opportunity for students to network with professionals from both the industry and academia as well as practice presenting research findings in front of an audience.

On the first day of the conference, Zhihan Jennifer Zhang, a senior in the actuarial science program, presented her research on loss reserving. The project was designed to be a real-world implementation of a 1999 article. Though the thesis project is still in-progress, the audience got a preview of preliminary result as well as some ideas for how the research could be applied in their own companies.

Julie Tang, a recent graduate from ASU, also presented her honors thesis project on continuing care retirement communities. The audience was impressed by the scope of the project, and, as the topic is less well-known, they were exposed to an interesting application of actuarial research.

ASU actuarial science coordinator Jelena Milovanovic presented in a session as well, working in conjunction with the Casualty Actuary Society to introduce ways in which degree programs can incorporate case studies into their curriculum. The presentation gave the professors in attendance a chance to discuss and coordinate potential future projects.

The students and professors also had the chance to attend various sessions. Several cutting-edge researchers presented their findings, and the conference attendees had the opportunity to follow up with these presenters.

The conference was a good learning experience for everyone who attended. ASU’s actuarial science program looks forward to sending more students to present their findings at the conference in the future.