College Students Attend Reinsurance Seminar

June 10, 2019

Bermuda College students joined 300 actuaries and technical staff at a reinsurance seminar last week to learn about the most relevant issues facing the property-casualty insurance and reinsurance industries.

The associate degree students – Jordan DeShields [Actuarial Science], Atiya Furqan [Actuarial Science], Nisha Smith [Business] and Ken-nie Trott [Business] – along with BC Mathematics Professor, Dr. Ali Arouzi, were guests of the Casualty Actuary Society [CAS] Seminar on Reinsurance held at the Fairmont Southampton.

Arguably the most intriguing aspect of the seminar for the students was being matched with mentors to discuss factors affecting the liability industry from an actuarial perspective. It was the first time BC students were invited to the CAS seminar, generally geared more towards university students interested in the reinsurance and actuary fields.

The students discovered a day in the life of an actuary, with either pricing or establishing reserves. They also learned various strategies on how to pass the requisite examinations to become an eventual Associate or Fellow of CAS.

Dr. Arouzi, who is a member of CAS, stated that his personal highlight was the account shared by one actuary of her experience with the exams. Through failure of some of them, she learned the key was allotting sufficient time for preparation.

“She said it was not because the exams were super hard,” Dr. Arouzi said. “It was merely the fact that she did not put enough time into the preparation for the exams. Once she put the necessary time into her studies, she passed them easily… On average she studied close to 300 hours for each exam. Her message to the students was that through hard work, they, too, can pass the exams and be successful.”

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