Actuarial science program growing at UNI

he actuarial profession may seem like a road less traveled, and in some senses that is true. There are only about 20,000 actuaries in North America, but their small number belies their importance because their work influences the lives of so many of us.

Actuaries assess risks and solve difficult financial problems in the insurance field and in business and industry. They design insurance, financial and pension plans and ensure that they are maintained on a sound financial basis.

At UNI, more and more students have embarked on the challenging path to become an actuary. In the past several years, the number of students in the program, offered through the Department of Mathematics, has increased to about 25, according to Syed Kirmani, professor of mathematics, who coordinates the program.

For the last several years, students in the program have had the opportunity to do a summer internship with insurance companies and other firms. Frequently, the companies later offer their interns a regular position.

UNI students have been summer interns at companies such as Principal Financial Group in Des Moines, State Farm in Bloomington, Ill., CIGNA in Hartford, Conn., and Trustmark Insurance in Chicago, among others. In the summer of 1998, all seven of UNI's applicants received actuarial internships.

Being selected for an internship is easier if a student has passed one or more exams in the series of exams given by the Society of Actuaries (for students specializing in life insurance, health insurance, investment or pension services) or by the Casualty Actuarial Society (for those specializing in property and casualty insurance). Typically, students take two to three of the exams before they graduate.

John E. Bruha congratulates Matthew Keppler (center) on winning the first annual actuarial prize, named after the UNI emeritus professor of mathematics, while Ruth Bruha, Joel Haack, Mathematics Department head, and Syed Kirmani look on.

The Mathematics Department recently introduced a course in actuarial exam preparation, and in 1997, UNI became a site for Society of Actuaries exams. The department also offers the John E. Bruha Annual Actuarial Prize to a mathematics major planning to pursue a career in the actuarial profession. The first winner of the prize was Matthew Keppler, a 1998 UNI graduate, now employed by CONSECO, Inc., a financial services firm near Indianapolis.

The UNI Actuarial Club, begun this year, helps students prepare for actuarial exams, internships and careers through field trips, speakers and informational programs.

Judging from the honor roll of companies employing UNI actuarial alumni--Principal Financial Group of Des Moines, Hewitt Associates of Chicago, Milliman & Robertson of Berkfield, Wis., CIGNA of Hartford, Conn., State Farm of Bloomington, Ill., to name just a few--it wouldn't take an actuary to project that the program has a bright future.