Hi, my name is Kirk Peter and I am on the faculty in the Actuarial
Science department at the Wisconsin School of Business here at the
University of Wisconsin-Madison. One of the things I am responsible
for here at UW-Madison is a program to reach out to high schools in
an effort to expose more students to the actuarial profession.
Careers in engineering, computer science, economics or statistics are
commonly mentioned as career choices for those who are good at
math. We want to add actuarial science to the list. Actuaries are
those who quantify risk. The risk could relate to the cost of health
care, the cost of a hurricane, or the pricing of a life insurance
contract. The 2014 Jobs Rated Report ranked "Actuary" as the
number four job on their list of 200! Our goal is to make connections
with teachers and guidance counselors who can help us raise
awareness with students about a career as an actuary.
The actuarial science program at UW-Madison is one of the largest
and most respected actuarial programs in the United States. Our
actuarial program is in the Wisconsin School of Business and is
connected with one of the longest standing and most respected risk
management and insurance programs in the country. The Actuarial
Science Program at the Wisconsin School of Business was designated
as one of the 13 inaugural Centers of Actuarial Excellence (CAE) by
the Society of Actuaries, the largest actuarial professional
organization in the world.
We offer a wide variety of classes specific to actuarial science and risk
management. Our program draws on the expertise of our 5
credentialed actuaries (Edward (Jed) Frees, Kirk Peter, Marjorie
Rosenberg, Peng Shi and Greg Wanner) and 4 risk management
professors (Martin Halek, Ty Leverty, Joan Schmit and Justin
Sydnor), as well as adjunct lecturers. We believe our program is a
great choice for your students.
Below are a couple of items we thought might be of interest to you
and/or your students:
Annual Actuarial Science High School Senior Scholarship – Due
Sunday, March 1, 2015
Each year the actuarial science program at the Wisconsin School of
Business offers a scholarship competition for high school seniors who
intend to study actuarial science at the University of WisconsinMadison. The first place award of $2,000 per year for four years will
be given to a high school senior on the basis of mathematical aptitude
and expressed interest in an actuarial career. The scholarship is
renewable subject to satisfactory academic performance and
continued interest in actuarial science. There are also smaller nonrenewable scholarships that are awarded as a part of this
competition. The deadline for application is March 1, 2015. Your
students can obtain more information about the scholarship,
including an application, through this link.
Actuarial Awareness Night – Tuesday, March 10, 2015
Once a year we host an event at the Wisconsin School of Business to
help introduce high school students and teachers to the actuarial
profession. On Tuesday, March 10th from 6:00 until 7:00pm, we will
hold a presentation where students can learn more about both the
actuarial profession and the actuarial science program here at UWMadison. A current actuarial science student will also present to
share their UW-Madison experience with those who attend. If you
are within driving distance of Madison, this annual event is a great
way for your students to learn more about the profession and the
program at UW-Madison. Parents and teachers are invited to attend
with their students.
Probability and Statistics Modules: An Actuarial Perspective
We are happy to announce that we have worked in conjunction with
the Actuarial Foundation to create a set of modules specifically to be
used to supplement an AP statistics curriculum. From the
Foundations’ website:
The Actuarial Foundation is proud to launch the web version of an
exciting NEW curriculum resource aimed at engaging accelerated
math students while also introducing them to the core principles of
probability and statistics. Students take on the role of an actuary as
they help an insurance company estimate the risk of storm activity
and calculate potentially costly damages.
Probability & Statistics: Modular Learning Exercises cover:
• Basic Statistics Concepts
• The Normal Model
• Discrete Probability Distributions
• Correlation and Regression
Each module is classroom-ready with data, discussion questions,
practice exercises, worksheets and detailed instructions on using
graphing calculators.
Feedback from teachers using these modules as a part of their AP
stats class has been very positive and the price is right: FREE! You
can download the material here.
Additional Information
If you have any questions about our program or actuarial science,
you can start with our newly updated webpage.
Another good resource is a website jointly sponsored by the Society
of Actuaries and the Casualty Actuarial Society. This is a fantastic
resource for students who would like to learn more about the
actuarial profession:
http://beanactuary.com/
I am also happy to help with any questions you or your students
might have about our program. Please feel free to contact me at
kpeter@bus.wisc.edu