TU team a finalist in worldwide actuarial case study competition

Student groups finished sixth, 17th in 2019 SOA Student Research Case Study Challenge

By Megan Bradshaw on June 13, 2019

Eureka Consulting team members — Eureka Consulting Services finished sixth among 63 worldwide competitors. From left to right: Mark DiBastiani, Yong Ma, Zixu Wang, Mark Cunningham and team leader Tyler Ung.

Team Lemon Squeezy placed 17th in the competition. From left to right: Tyler Halliwell, Wayna Fordyce, team leader Kasey Reising and James Moore.

Two teams of students from Towson University’s Jess & Mildred Fisher College of Science and Mathematics placed sixth and 17th in the 2019 SOA Student Research Case Study Challenge in early April.

Eureka Actuarial Consulting—Mark Cunningham, Mark DiBastiani, Yong Ma, Tyler Ung and Zixu Wang—placed in the top six, along with winners Drake University, second-place UNC Chapel Hill, Arizona State University and Lisbon School of Economics and Management (third-place tie), Boston University and Purdue University.

Team Lemon Squeezy—Jordan Browne, Wayna Fordyce, Tyler Halliwell, James Moore and Kasey Reising—were semifinalists. Other semifinalist universities were located in Australia, China, India, Canada, Indonesia and Portugal.

Over eight weeks at the start of the spring term, the students researched how to design an automobile insurance product for autonomous vehicles by conducting actuarial analysis, formulating solutions and giving their recommendations. Teams judged to have top submissions presented their case studies to the judges via audio/video conferences.

As part of its mission to help develop future actuaries, the SOA’s research department held the competition to provide an opportunity for students to apply their actuarial skills to a real-world problem.

TU's actuarial science and risk management (ASRM) program provides a solid background in mathematics, with additional courses in accounting, computer science, economics, finance and writing for business and industry. It also prepares students for the first five preliminary exams required to attain professional standing and admission to the Society of Actuaries.

The program has been recently recertified as a Center of Academic Excellence by that organization. It is the sole designee in Maryland and one of just 32 in the world.

Students can also join TU's ASRM Club. It works to promote the program to new students as well as provide academic support and networking opportunities to current members. Students are not required to be in the major to join.