Forrest Preston
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What he does:
- Forrest works in the personal lines actuarial property pricing unit, which menas he prices homeowners insurance. His group is responsible for determining current and projected loss trends as well as premium trends. They then determine if the projected future premiums will cover their profit requirements. They are able to make recommendations on whether they can lower rates or become more competitive, or if they are rate inadequate and need to increase rates. They work with state insurance regulators, providing support to get their rate filings approved.
Math on the job:
- Forrest uses math on the job every day. The most obvious use of college math skills comes from the exam process. The first four exams are almost pure math, ranging from probability and loss models to financial mathematics. He uses analytical and problem solving skills learned in math classes when dealing with large sets of data and determining trends. He analyzes how potential changes to their rating systems affect their policy holders, and thus the company's bottom line.
Forrest's background:
- Forrest graduated with a Bachelor of Science in Mathematics and Economics in Spring, 2007.
- Forrest's father was the calculus teacher at his high school, so he had an early introduction to mathematics. He always enjoye math and competed in math contests growing up. The actuarial creer was recommended to him before he entered high school. While in high school, he became more serious about math and decided to attend the UW to major in math. While at UW, he served as President of the Actuary Club.
Advice for students:
- For those interested in the actuarial career, take probability and the first exam as early as possible. The more exams you pass in college the more competitive you will be as you start looking for jobs. Make sure you are getting a well-rounded education. Employers today are looking for graduates with exceptional analytical skills as well as business and communication skills. Make sure you take writing or communication classes. Take some classes with a business emphasis, such as finance or economics. And last, join the Actuary Club at UW because it is an invaluable resource for exam support and networking opportunities.