Bryant Actuarial Team Takes 2nd Place in Traveler’s Competition!

Every October, Traveler’s Insurance holds a national case competition in which teams of actuarial students from all over the country gather to compete for the best presentation.  Bryant students are invited every year, and this year the team came in second place!

This was an extremely impressive placing for Bryant’s actuarial students because of their level of experience.  The six students who competed are Molly Guinee, Nicholas Howard, William Kelley, Meghan Ryan, Jared Saunders, and Emma Wieduwilt.  As a team entirely composed of sophomores, they were particularly inexperienced in comparison to their competition.

Despite their level of experience, the students gave an excellent presentation that dealt with car insurance rate-making to compete against URI, WPI, Temple, UConn, and many more universities that represented the

Jim Bishop, the actuarial coordinator for the math department brought the group to Travelers where they stayed overnight, attended a lovely dinner, and did some networking.  The next day, the students were given a business problem dealing with car insurance rate-making, expected to find a solution, and give a presentation on it a few hours later.  The case focused on commercial auto insurance and the severity and frequency of bodily injury and property claims.  The group was required to analyze the data over time to determine the loss ratio in order to predict the claims for 2015.

“I found the competition to be a challenge, incorporating both the analytical component, as well as the executive decision-making side of the actuarial profession,” said Will Kelley.  He said the team worked to the last minute, using skills they learned in class, but relying on their intuition.

In the end, the group came to the consensus that their analysis and content could have been improved upon, but their high quality presentation skills due to Bryant’s emphasis on presenting was a large contributing factor as to why they were awarded second place.  Their presentation was very professional.  Will Kelley attributed their success to becoming accustomed to presenting in classes like GFOB.  He believes that this gave them the ability to impress the judges with their interpretation of the data.

Overall, the students found that the best part of the program was the fact that it gave them opportunities.  Will Kelley was encouraged to apply for the Travelers’ AALDP Internship program and is currently in the interviewing process.  The students were also afforded the opportunity to network with Travelers’ employees and other actuarial students.

“Having the opportunity to present in front of Travelers was very unique in that we could show off our talents and get our names and faces out there,” said Emma Wieduwilt.  “In the end, this opportunity has greatly benefited me as I have accepted an offer for Travelers’ summer Actuarial Internship.

Coming in second at this competition was a huge success for the actuarial department, and they plan to return next year with even more experience and preparations.

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