UCSB AA PD HUB

The 2022 UCLA Case competition was my first experience in the actuarial field. I came in excited to apply my knowledge to a team effort. The task required each team of four students to pose as actuaries at a large life insurance company that had to do a reserving review for three lines of business. We were given fourteen thousand rows of insurance claims and we had to apply five reserving methods. With our findings, we determined which technique was best and which line of business to standardize.

When I saw the task my team was given, I was concerned as the material was based on an upper-division course (PSTAT 183) I had not taken yet. With the help of other upperclassmen, I began studying the new material so I could better understand what we were doing and why it mattered. The competition only gave us two weeks to finish the project and create a presentation for a board of judges. My team collaborated several hours each day during the process, and each member helped others with their shortcomings. We presented the work to the judges and we felt great. I couldn’t believe it when my team got the notification that we were selected as finalists. I was so proud of the team's effort.

We were given the chance to clean up our data and presentation, and a week later we presented again. But this time, we presented in front of more than twenty representatives from different insurance groups. We didn't win in the end, but I was honored to represent UCSB in the competition. Afterward, we were able to talk to the representatives and understand how we could have improved our project. I am excited to take PSTAT 183 next year, as I have experience in the material, and I understand the hard work that goes into reserving as an actuary.

This competition gave me the opportunity to see what a reserving actuary does, work in a team environment, and meet harsh deadlines. After the competition, I put the experience on my resume. I noticed that in all of the interviews that followed it was the main talking point. I finally was able to talk about something more than my previous jobs or current coursework. I feared I would not get an internship due to it being so late in the recruiting season, but I believe this case competition is what helped me get my summer internship with Blue Shield of California. Overall I think case competitions are the best way to get a feel for what an actuary does. They give you valuable experience and display that you are a proactive person.