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٠ Brian Nyland ٠ Louis Posick, ASA ٠ Ashley Payne

University of Florida Presentation Presenters:. ٠ Brian Nyland ٠ Louis Posick, ASA ٠ Ashley Payne. Introduction Get To Know Allstate Workplace Division Advantages Of Working At Allstate Actuarial Career At Allstate Workplace Division Transitioning Into The Actuarial Career Exam Overview

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٠ Brian Nyland ٠ Louis Posick, ASA ٠ Ashley Payne

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  1. University of Florida PresentationPresenters: ٠ Brian Nyland ٠ Louis Posick, ASA ٠Ashley Payne

  2. Introduction Get To Know Allstate Workplace Division Advantages Of Working At Allstate Actuarial Career At Allstate Workplace Division Transitioning Into The Actuarial Career Exam Overview Question and Answer UF Presentation Agenda

  3. Get To Know Allstate Workplace Division • How Does Allstate Workplace Division Fit Into The Bigger Allstate Company? • Supplemental Insurance through Payroll Deduction • Types Of Products Available

  4. Allstate Workplace Division Products Types of Products Include • Disability • Accident • Cancer • Hospital Indemnity Medical Coverage • Term Life • UL • Group Life and Accident & Health

  5. Advantages of Working as an Actuary at Allstate Workplace Division Competitive Study Program Current Plan As of March 2006 • Company Study Hours • Competitive hours based on exam hours • Payment of Exam Fees, Study Materials & Preparation Seminars • Competitive Salary Increases Upon Passing

  6. Advantages of Working as an Actuary at Allstate Workplace Division Employees Are In Good Hands • Generous Benefits • Continued emphasis on employee satisfaction • An environment that promotes a high level of integrity

  7. Actuarial Career At Allstate Workplace Division Valuation • How much money must the insurance company set aside (reserve) so that we can afford to pay claims when they occur? • The answer depends on the required level of confidence (and who is asking) • STAT (Statutory Reporting) • TAX • GAAP (General Accepted Accounting Principles)

  8. Actuarial Career At Allstate Workplace Division Valuation • Manage Company Reserves For Insurance Liabilities • Perform Financial Modeling • Analyze & Explain Company Monthly Income • Recommend Product Profitability Improvements

  9. Actuarial Career At Allstate Workplace Division Product Development • Developing and Filing New Policies • Maintenance of In-Force Policies • Balance desires of agents with the needs of the policy holder while keeping the product profitable • Creative Statistics

  10. Transitioning Getting Experience In College Familiarity with Computers & Programs General Tips for the Business World Difference in Study Techniques Financial Incentives for Passing Exams

  11. Path to Actuary Preliminary Course Work • Validation by Educational Experience (VEE) • Applied Statistical Methods, Corporate Finance & Economics • Four Exams • Exam P: Probability • Exam FM: Financial Mathematics • Exam M: Actuarial Models • Exam C: Construction & Evaluation of Actuarial Models

  12. Path to Actuary ASA Requirements • Fundamentals of Actuarial Practice (FAP) • Modules 1-5 and Exam 1 • Modules 6-8 and Final Assessment • Associate Professionalism Course (APC)

  13. Path to Actuary FSA Requirements • Two Track Specific Examinations Exam DP Design & Pricing Exam CSP Company/Sponsor Perspective • “Several” Internet Based Modules • “Capstone” Module (seminar?) • Fellowship Admissions Course (FAC)

  14. Question and Answer

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