Pinnacle’s Commitment to Developing the Next Generation of Actuaries
Nicole McArdle

Pinnacle’s Commitment to Developing the Next Generation of Actuaries

Nicole McArdle May 05, 2016 Posted in: Blog Posts, General, Community Involvement
According to the U.S. Bureau of Labor Statistics, there are currently less than 27,000 accredited actuaries in the United States. But that number is expected to grow substantially over the next ten years. At Pinnacle Actuarial Resources, Inc. we’re committed to ensuring that actuarial students are fully engaged in the roles and responsibilities of accredited actuaries well before graduation. When I was an actuarial student at Illinois State University (ISU), I had the opportunity to benefit from the unique partnership between Pinnacle and ISU that provides students the chance to meet and work with professional actuaries throughout their college years.

As an ISU freshman I toured Pinnacle’s Bloomington headquarters and engaged one-on-one with actuarial consultants and analysts. My first taste of the actuarial world encouraged me to continue on my journey to becoming a professional actuary. As I advanced through my studies, I was invited to participate in the Pinnacle University (Pinnacle U) event. This educational program provides students with the opportunity to pair with Pinnacle analysts in researching and presenting on a topic of actuarial interest. My Pinnacle partner and I presented on autonomous vehicles and their potential impact on the insurance industry. This was a great opportunity for a student like me to gain valuable insight into the actuarial field and to research a real actuarial issue, especially one that is still such a popular topic. My Pinnacle U experience provided me with exposure to the Property & Casualty (P&C) consulting world and reinforced my desire to become an actuary. Throughout my university studies I attended presentations by Pinnacle actuaries to the ISU Actuarial Club on a variety of intriguing industry topics. I graduated with my degree in Actuarial Science in 2015 and joined Pinnacle a month later.

From my position as a Pinnacle Actuarial Analyst I am able to view the Pinnacle/ISU partnership from a completely different perspective. This past March I again participated in Pinnacle U, but this time it was from the other side. I found it not only to be a chance to further develop my research and presentation skills, but also a great occasion to work with the ISU actuarial students. Christina Henry, one of my Pinnacle peers, and I worked with our student to prepare a presentation on the Bornhuetter-Ferguson Method, a common reserving technique. The topic was unfamiliar to our student, and in responding to his questions we were able to view our research with a fresh perspective and better understanding. Attending the other Pinnacle U sessions was an equally beneficial learning experience for both students and professionals.

A group of ISU actuarial students recently visited our Bloomington office to learn more about Pinnacle and what it is like to work in the P&C consulting environment. Erich Brandt, a Consulting Actuary, invited me to give my Pinnacle U presentation with him. It later transitioned into a Q&A session that covered a wide range of student questions, from how to prepare for interviews to the types of projects we do and how we develop our valuable client relationships. I also spoke about my transition from ISU student to Pinnacle Actuarial Analyst and illustrated some of the differences between the two situations. Not long ago I, too, was an actuarial science student and appreciated every chance to learn more about the professional actuarial world. I am thrilled to now be able to give back through the Pinnacle/ISU partnership that helped guide me to where I am today.

Nicole McArdle

Nicole McArdle is an Actuarial Analyst with Pinnacle Actuarial Resources, Inc. in the Bloomington, Illinois office. She holds a Bachelor of Science degree in Actuarial Science from Illinois State University and has experience in assignments involving Loss Reserving, Loss Cost Projections and Group Captives. She is actively pursuing membership in the Casualty Actuarial Society (CAS) through the examination process.
 

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