Bryant students place third in national actuarial case competition
Program sponsored by Travelers Insurance gives students the opportunity to apply classroom principles to a real-world project.
A group of Bryant students recently captured third place in the first Actuarial Case Competition sponsored by Travelers Insurance. As part of a nationwide program, four Bryant students selected by Bryant�s Department of Mathematics spent a day at the company's corporate offices in Hartford, CT, researching an environmental issue that affects homeowners' insurance.
The team of Thomas D'Onofrio '10 (Ellington, CT), Sarah Linszner '09 (Billerica, MA), David Loehr '10 (North Kingstown, RI), and Lauren Prue '10 Griswold, CT) only learned about the environmental theme on the day of the competition. They decided to examine the "green" movement that is becoming popular among homeowners.
The students discovered that while environmentally-friendly homes are usually safer, they are more costly to repair when damaged. Because some green improvements are not covered by ordinary homeowner's insurance, the group created a plan that recommends that the insurance company create a new product with special features for green homes.
The competition also took place simultaneously at Travelers corporate headquarters in St. Paul, MN. After three hours of researching and preparing a presentation, the seven participating teams presented their findings via teleconference to a panel of judges in both locations.
Bryant's third-place finish, which included a $250 cash prize, was even more impressive because the Bryant team of four competed against bigger teams of six students from other schools.
Experiential Learning
D'Onofrio, an actuarial math major who aspires to work in the insurance industry, says the competition provided a good dress-rehearsal for his career goals.
"I was able to see some of the issues that are affecting the insurance industry," he says. "I was also exposed to the types of questions companies may ask their actuaries to solve."
Loehr, also an actuarial math major, agreed it was a great experience to take information they learned in the classroom and apply it to an actual scenario.
"The case competition gave me a better understanding of some of the work that actuaries do," he says. "I had always pictured actuaries crunching numbers in cubicles all day. I learned that they perform research, gather information and statistics, and decide how to respond to a changing world."
Jim Bishop, professor of mathematics, accompanies the team to Hartford. He says the competition was a good opportunity to see theory in action.
"It was great practical experience for the students to analyze risk and price it in the real world," he says. "This was a good lesson in understanding the world around us and not just mathematics."
The team of Thomas D'Onofrio '10 (Ellington, CT), Sarah Linszner '09 (Billerica, MA), David Loehr '10 (North Kingstown, RI), and Lauren Prue '10 Griswold, CT) only learned about the environmental theme on the day of the competition. They decided to examine the "green" movement that is becoming popular among homeowners.
The students discovered that while environmentally-friendly homes are usually safer, they are more costly to repair when damaged. Because some green improvements are not covered by ordinary homeowner's insurance, the group created a plan that recommends that the insurance company create a new product with special features for green homes.
The competition also took place simultaneously at Travelers corporate headquarters in St. Paul, MN. After three hours of researching and preparing a presentation, the seven participating teams presented their findings via teleconference to a panel of judges in both locations.
Bryant's third-place finish, which included a $250 cash prize, was even more impressive because the Bryant team of four competed against bigger teams of six students from other schools.
Experiential Learning
D'Onofrio, an actuarial math major who aspires to work in the insurance industry, says the competition provided a good dress-rehearsal for his career goals.
"I was able to see some of the issues that are affecting the insurance industry," he says. "I was also exposed to the types of questions companies may ask their actuaries to solve."
Loehr, also an actuarial math major, agreed it was a great experience to take information they learned in the classroom and apply it to an actual scenario.
"The case competition gave me a better understanding of some of the work that actuaries do," he says. "I had always pictured actuaries crunching numbers in cubicles all day. I learned that they perform research, gather information and statistics, and decide how to respond to a changing world."
Jim Bishop, professor of mathematics, accompanies the team to Hartford. He says the competition was a good opportunity to see theory in action.
"It was great practical experience for the students to analyze risk and price it in the real world," he says. "This was a good lesson in understanding the world around us and not just mathematics."
