SLIDE 1 Engaging Students with Actuarial Science and the MTFC
Webinar, July 11, 2017
SLIDE 2 www.mtfchallenge.org | A Program of The Actuarial Foundation 1. Introductions
- 2. What goes into an MTF Challenge submission?
- 3. Actuarial Science tools and tips - how do actuaries do it?
- 4. Tips to getting started in the Challenge
- 5. Finding a mentor for you or your students
- 6. Educator Math Grant Announcement
- 7. Registering your team(s)
- 8. What’s Next?
- 9. Q&A
Webinar Agenda
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Hosted by:
The Actuarial Foundation
Supported by:
Institute of Competition Sciences
Introductions
Outreach and Mentorship Committee
31 actuarial professionals and university professors volunteering to support students and educators.
Gold Sponsors:
Roy & Georgia Goldman
Bronze Sponsors:
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www.mtfchallenge.org | A Program of The Actuarial Foundation
What goes into an MTF Challenge submission?
Webinar Agenda
SLIDE 5 www.mtfchallenge.org | A Program of The Actuarial Foundation
Your MTF Challenge submission
Submissions include:
- 1. Executive Summary (Up to 2 pages max)
- 2. Transportation Industry Changes (Up to 10 pages max)
- 3. Insurance Industry Changes (Up to 10 pages max)
- 4. Society at Large Changes (Up to 5 pages max)
- 5. Conclusions and Recommendations (Up to 3 pages max)
SLIDE 6 www.mtfchallenge.org | A Program of The Actuarial Foundation Executive Summary (Up to 2 pages max)
A short narrative description of the rest of your report. It should include key findings/recommendations from your mathematical models. Think of answering these questions:
1. How did you create your mathematical model of each of the 3 required sectors? 2. What was the result of your mathematical analysis of the data in each of the 3 required sectors? 3. What specific changes did your models identify, and what recommendations would you make for us to manage any negative effects of those changes?
Your MTF Challenge submission
SLIDE 7 www.mtfchallenge.org | A Program of The Actuarial Foundation Transportation Industry Changes (Up to 10 pages max)
Start with the data on www.mtfchallenge.org/resources/transportation-industry-data/ to answer the questions in the challenge statement. Do not limit yourself to this data, and remember to include your math!
1. What is the difference between your expected industry growth with and without autonomous vehicles (in terms of sales, revenue, profit, and employment)? 2. Are there other ways the adoption of autonomous vehicles could impact the transportation industry? 3. Be specific and include all the data and mathematical calculations you made to determine your projections.
Your MTF Challenge submission
SLIDE 8 www.mtfchallenge.org | A Program of The Actuarial Foundation Insurance Industry Changes (Up to 10 pages max)
Start with the data on www.mtfchallenge.org/resources/insurance-industry-data/ to answer the questions in the challenge statement. Do not limit yourself to this data, and remember to include your math!
1. How would you expect insurance claims to change in the next 10 years without autonomous vehicles? 2. How would you expect autonomous vehicles to change the size or quantity of these expected claims? 3. What other effects could autonomous cars have on the insurance industry? 4. Be specific and include your math!
Your MTF Challenge submission
SLIDE 9 www.mtfchallenge.org | A Program of The Actuarial Foundation Society at Large Changes (Up to 5 pages max)
Start by selecting an area of society you think will change with autonomous vehicle
- adoption. Then research the data available online (start here for ideas:
https://www.mtfchallenge.org/resources/societal-impact-data/)
1. Explain how you expect this sector of society to change as autonomous vehicles are adopted. 2. Use and show your math! 3. Will the change be beneficial or a detriment to society? 4. How can we plan for this change?
Your MTF Challenge submission
SLIDE 10 www.mtfchallenge.org | A Program of The Actuarial Foundation Conclusions and Recommendations (Up to 3 pages max)
Review the information you gathered about each of the three sectors for the report and create statements on how you think we can best prepare for those changes.
1. Are the changes your models identified beneficial or detrimental to the industry? To society? 2. How can the companies, government, or communities best prepare for these changes? What do they need to do?
Your MTF Challenge submission
SLIDE 11
www.mtfchallenge.org | A Program of The Actuarial Foundation
Actuarial Science tools and tips.
How do actuaries do it? Webinar Agenda
SLIDE 12 www.mtfchallenge.org | A Program of The Actuarial Foundation Put math to work for your future!
- Actuaries use applied mathematics to help their companies, communities, and governments.
- Actuary is consistently rated as one of the best jobs in America.
- Actuaries earn great starting salaries that can double within the first five years.
- Actuarial jobs are always in high demand.
- Actuaries participate in high-level business decision-making and solve real problems in every
industry.
- Actuaries require top skills in Mathematics!
Actuarial Science tools and tips
SLIDE 13 www.mtfchallenge.org | A Program of The Actuarial Foundation
Actuarial Science tools and tips
Nate Worrell, FSA
Nate Worrell helps actuaries around the world model the future. He's on the actuarial support team for AXIS, an insurance modeling software from GGY, a Moody's Analytics company. He is a graduate of the University of
- St. Thomas, and currently lives in the Pacific Northwest
with his wife and kids. In addition to modeling the future, Nate also loves to write about it. This year is his fourth time competing in the Actuarial Speculative Fiction Contest.
Clark Slipher, FSA, MAAA
Clark is a retired Principal of Milliman, Inc. He worked at Milliman for 20 years as a health insurance consultant. Most recently, he served as the National Director of Milliman's health practice and was on the firm's Board of Directors for seven years. Clark graduated from Ball State University. Clark also served on the examination committee and health insurance task forces. As a recent retiree, Clark volunteers for the Red Cross and Milwaukee Rescue Mission (tutoring and mentoring on professional development).
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www.mtfchallenge.org | A Program of The Actuarial Foundation What do actuaries actually do? What different types of actuaries are there? How would an actuary approach this Challenge? Where would they start for the Transportation Section? For the Insurance Section? For the Society at Large Section? What other tips do you have for students taking on this Challenge?
Actuarial Science tools and tips
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Tips for Getting Started with MTFC
Webinar Agenda
SLIDE 16 www.mtfchallenge.org | A Program of The Actuarial Foundation
6 Tips for Getting Started
1
Do the background research.
Understanding what information is available and which questions to ask before students start writing can be critical to organizing a well thought-out and well-organized report.
2 3
Take it one step at a time.
Work on one section of the report at a time. Focus first on the Transportation section, then move on to insurance, and society. Or have students form teams of 3 and let one student take each section.
Use multiple sets of data.
Don’t rely on just one type of information to tell your story. Make sure you have multiple sets of data and showcase how they affect one another in your models.
SLIDE 17 www.mtfchallenge.org | A Program of The Actuarial Foundation
6 Tips for Getting Started
4
Dig Deep into the Data.
At first glance, many datasets may not tell you a lot. However, when you apply math to the data, and start to analyze it in more depth, you’ll see that many insights can be inferred from even simple datasets.
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Communicate & Collaborate.
Submissions can be the work of 1 to 3 students. Whether your students submit as a team or not, we encourage students to connect with friends
- n the projects, and help one another with interesting insights.
Use graphs and figures.
Don’t rely on pure text to tell your story. A picture really is worth a thousand words. Have strong graphs and figures to demonstrate the mathematical trends projected by your analysis of the data for each section of the report.
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Finding a Mentor
Webinar Agenda
SLIDE 19 www.mtfchallenge.org | A Program of The Actuarial Foundation
A simple 2 question form can get you an actuarial mentor for your class.
www.mtfchallenge.org/support/mentorship/ Finding a Mentor
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grant Announcement
Webinar Agenda
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Supporting Math Education across the country, The Actuarial Foundation has selected 4 High School Educators to receive its first round of MTFC Educator Math Grants!
SLIDE 22 www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Geoffrey Estes
Harrisonburg High School Harrisonburg, VA
To support connecting the MTF Challenge to an “ethical reasoning unit” which Mr. Estes uses with his robotics students after building robots that have basic driving sensors, and teaching them the mathematics behind these sensors.
SLIDE 23 www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Lori Woods
Danville High School Danville, IL
To support a class visit to Purdue University where her students will explore careers in mathematics and
- STEM. While there they will also visit Purdue’s
Discovery Park, which has extensively researched autonomous vehicles, to build the students’ background knowledge on the technology and support their participation in the MTF Challenge.
SLIDE 24 www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Madison Shipley
DSST Public Schools Denver, CO
To support a subscription to new Mathalicious lessons that will help her class address the Common Core Standards while challenging students to think critically about the world. The lessons will be used by Ms. Shipley’s students to help develop the skills necessary to participate in the MTF challenge.
SLIDE 25 www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Susan Baloun
Cochrane Fountain City High School Fountain City, WI
To support Ms. Baloun’s expansion of her school’s Math Team and to purchase statistical software (SPSS), a number of laptops for the team, graphing calculators (TI-84+CE) and other materials that will help the Math Team conduct the statistical analysis required in the MTF Challenge.
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Educator Math Grants
Thank you to all who applied
We hope all who applied will continue to participate in the MTF Challenge and look forward to finding new ways to support you and your work to engage students in applied math and actuarial science!
SLIDE 27
www.mtfchallenge.org | A Program of The Actuarial Foundation
Registering your team(s)
Webinar Agenda
SLIDE 28 www.mtfchallenge.org | A Program of The Actuarial Foundation MTF Challenge uses the ICS Team Registration & Submission Platform.
- Register multiple teams of students.
- Manage all teams from one master account, or allow
students to setup their own teams.
Registering Your Team(s)
https://www.competitionsciences.org/competitions/modeling-the-future-challenge/
SLIDE 29
www.mtfchallenge.org | A Program of The Actuarial Foundation
What’s Next?
Webinar Agenda
SLIDE 30 www.mtfchallenge.org | A Program of The Actuarial Foundation
Upcoming Milestones
- July 11, 2017 – Team Registration open.
- Sep 19, 2017 – 3rd webinar: Autonomous Vehicles & Actuarial Science.
- Oct 17, 2017 – 4th webinar: Completing Successful Submissions.
- Oct 28, 2017 – Student or team registration due & Submissions Open
- Nov 25, 2017 – Submissions due
- Dec 20, 2017 – Finalists announced
- Feb 25-26, 2018 – MTF Symposium, presentations, and final awards
What’s Next
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www.mtfchallenge.org | A Program of The Actuarial Foundation
Questions
Thank you for joining us! We look forward to helping you engage your students with the Modeling the Future Challenge.
Questions?
Contact:
challenge@mtfchallenge.org
