Actulab Event Challenges Actuaries and Others

Actuaries, academics, and actuarial students were given a chance to demonstrate their talents at an unusual event backed by the Institute and a few insurance industry organizations.

Actulab, in collaboration with the CIA, the École d’actuariat of Université Laval, and a few insurance industry sponsors, invited actuaries and the academic community to the university last month.

There, three insurers challenged the participants’ talents to find potential solutions to property and casualty insurance problems. Acting singly or in teams, visitors were able to demonstrate their expertise to industry stakeholders.

Actulab is an organization set up to promote actuarial innovation, and it brings members of the profession together with students, academics, and others by asking them to solve practical problems facing the industry—the challenges at last month’s event involved home insurance in Alberta, car insurance ratings in Ontario, and car insurance promotions in Québec. Participants offer solutions in person or online to win prizes donated by sponsors; those who submitted the best answers to the three problems posed at Université Laval could each earn $1,000. Future events could focus on other areas of actuarial involvement.

For more on Actulab, visit its website (in French only).

CIA President Jacques Lafrance, left, presenting a cheque on behalf of the Institute to Actulab, represented by its founder, Frédérick Guillot. To the right is Denis Latulippe, director of the École d’actuariat of Université Laval.

Some of the actuaries and others who took part.

There was plenty of time for networking and socializing, a key aspect of the event.

Canadian Institute of Actuaries/Institut canadien des actuaires