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Most actuaries work for insurance companies and consulting companies that support the insurance industry. They are business professionals who \u201ccombine mathematical skills with problem-solving and communication skills to identify, analyze, quantify and mitigate risks,\u201d says Niedzielski. To become a credentialed actuary, an individual must pass a series of roughly ten rigorous exams. The UConn program helps students to prepare for several of these exams.<\/p>\n
UConn\u2019s program carries much prestige due to its proximity to Hartford, which many consider the insurance capital of the world. \u201cWe are also a stone\u2019s throw from New York City and Boston, so our reach to industry is fantastic,\u201d Niedzielski says.<\/p>\n
The UConn Actuarial Society (UAS), a completely student-run actuarial club, hosts a speaker series where industry professionals come weekly during the school year to inform students of opportunities and give them advice. The UAS is also heavily involved in our annual actuarial career fair, which regularly attracts 50 companies looking for summer actuarial interns and full-time actuarial students. This direct industry connection is a crucial ingredient in making UConn\u2019s program so accomplished. And with a job placement rate of 85-90% of U.S.-based graduates over the last several years, it\u2019s clear that industry values UConn graduates.<\/p>\n
The club also provides mentorship opportunities where newer students are paired with more experienced classmates to help them succeed. \u201cOne of my favorite aspects of our program is seeing how the students support each other. The care they show for each other is heartwarming\u201d says Niedzielski.<\/p>\n
Most of the professors and instructors in the program are credentialed actuaries who either work in the field or formerly worked in the field. \u201cWe bring that industry experience into the classroom. Students aren\u2019t just learning from a textbook, they\u2019re learning about the real world from currently practicing actuaries,\u201d says Niedzielski.<\/p>\n
\u201cWe are a unique body because we are, I call it, an applied actuarial research center,\u201d says Jay Vadiveloo, a professor in residence in the Department of Mathematics and Director of the Goldenson Center for Actuarial Research at UConn. UConn gets projects from industry, and students get the opportunity to work on real-life cases, he says.<\/p>\n
The Goldenson Center is open to all actuarial students, both graduate and undergraduate. Vadiveloo spent over 30 years working as an actuary in life insurance, and he uses his connections to find research opportunities for students. The hands-on work available for students at the Goldenson Center contributes to the prestige of the program.<\/p>\n
The Goldenson Center runs a case study competition once a year, open to any undergraduate student. Vadiveloo gets projects from industry partners, and students get the opportunity to work as teams and present their findings and recommendations to professionals from the companies.<\/p>\n