Actuarial Science Program Honored by Casualty Actuarial Society

The Casualty Actuarial Society has awarded the UConn Actuarial Science Program the 2019 CAS University Award, recognizing the innovative and exemplary ways it is preparing students for a career in the property and casualty insurance industry.

The Actuarial Science program, which serves more than 500 actuarial undergraduate and graduate students, is housed in the Department of Mathematics in the College of Liberal Arts and Sciences.

This is the second time the program has won the award; it was a 2016 winner and, after a three-year ineligibility period, has returned as the 2019 winner.

The program’s recent advances include expansions not only in the actuarial courses required, but in increasing requirements for programming and writing proficiency. In one course, students identify a publicly-traded company to follow over the course of the semester, and through instructor-moderated discussions, they gain a deeper understanding of the role that property and casualty insurance can play in managing risk.

Starting their sophomore year, actuarial students gain real-life experience through focused research and case studies that hone critical thinking and communication skills with the context of real-world business issues.  Industry partners contribute reality-based case studies that are incorporated into an actuarial science case studies course.

The program also sponsors an internship program in partnership with the State of Connecticut Department of Insurance. Interns receive course credit as they fulfill rotations.

“We are honored to be recognized by the Casualty Actuarial Society for our actuarial program, which has put added emphasis on our property and casualty curriculum, research and roles for students in the property and casualty industry,” said Jim Trimble, director of the UConn actuarial science program and lecturer in mathematics.

“We are grateful for the outstanding support that the Casualty Actuarial Society provides to colleges and universities in support of such programs.”

The Casualty Actuarial Society is the world’s only actuarial organization focused exclusively on property and casualty risks, serving more than 8,600 members worldwide who work for insurance companies, educational institutions, state insurance departments, federal government agencies, and independent consulting firms.

Two other universities were recognized as 2019 winners: Illinois State University and the University of Toronto. Winning schools will receive a $5,000 award to further enhance their programs, and will be recognized at the 2019 CAS Annual Meeting November 10-13, 2019 in Honolulu, Hawaii.

By: Combined Reports

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