A team of University of St. Thomas students, including two sophomores and one first-year student, recently won the Actuarial Case Competition hosted virtually by the University of Texas – Dallas on Nov. 3. The students won $2,250 in prize money.
The winning team included Christian Eichers, Henry Brandt and Will Kroening. A second team from St. Thomas including Natalie Mumm, Thao Le Ho Phuong and Thomas Nguyenalso participated, but did not place. Mathematics and Actuarial Science Professor Kyle Falconbury guided the teams. The competition drew teams from all over the country with 15 teams in total. Teams were anonymous while presenting, minimizing potential for bias from judges.
A few weeks before the competition, the teams were given data and information regarding fake homeowners’ insurance and were challenged to design a recommended price for it. Decisions on how to do so included finding pricing for roofing and alarm systems. With this little information, it was difficult to create a project that would win.
“This experience mimics the types of analyses and presentations that are common in the actuarial field. Students would be doing this type of work in their internships or full-time employment,” Falconbury said. “These types of experiences hone their critical thinking and communication skills. Several classes required for their major also practice these skills.”
