ARECA Actuarial Scholarship Information and Application

(Note: a Chinese version of this information is provided on the next page.)

OBJECTIVE
The objective of the ARECA Actuarial Scholarship is to further students’ interest in the property/casualty actuarial profession.

SCHOLARSHIP AWARDS
The ARECA Scholarship Program will award cash scholarships of USD $1000, $600, and $400 to three students for the current academic year (2017-18). The scholarships will be awarded based primarily on the quality of the submitted Scenario Essay.

It is the intent of ARECA to invite each of the three winning students to participate in an upcoming local ARECA meeting (or other actuarial event) during 2018, subject to our mutual ability to coordinate calendar and logistical constraints. In addition, at the sole discretion of ARECA, winning essays may be published online or in printed form.

ELIGIBILITY – To be considered for the scholarship, an applicant must:

• Currently (at the time of the application deadline) attend a college or university in the Asia Pacific region as a full-time undergraduate student;
• Have sat for at least one actuarial exam (from any internationally-recognized actuarial association) prior to the application deadline, but it is not required that you have passed the examination;
• Be a member of CAS Student Central (Join here for free: www.CASstudentcentral.org);
• Submit a Scenario Essay (see instructions below) by email, no later than the application deadline;
• Submit a completed ARECA Scholarship Application, using the Survey instrument below (click here for a sneak preview of the Application questions), no later than the application deadline; and
• Designate on the Application that you accept the provisions of the Copyright and Publication Agreement that is set forth in the Application.

THE SCENARIO ESSAY

A key element of this scholarship competition is the Scenario Essay. We have created seven different Scenarios for your consideration.  The Scenario topics are:

1.       Self-driving vehicles
2.       Drones
3.       Premium rate detariffication
4.       Solvency regulation
5.       Bike-sharing
6.       Typhoon damage
7.       Peer-to-peer motor insurance

Click here for a summary description (in Chinese and English) of the seven different scenarios.  Click here for additional data, assumptions and background reading for some of the Scenario topics.

As a part of the Scholarship Application process, you must prepare and submit (by email) one Scenario Essay, on any one of the Scenarios of your choosing. We expect that you will research the topic as needed, conduct some thinking and analysis, and write a paper (approximately 5 pages) with your analysis and recommendations.  You also may submit a spreadsheet documenting your analysis, if you wish, but your written paper will be the primary basis on which you will be evaluated.

Your essay may build on information, ideas, and other intellectual property from various sources -- but your essay must include appropriate acknowledgements and references to any such sources.  Failure to respect and acknowledge the work of others is grounds for immediate disqualification.  We are not seeking a compilation of other peoples’ ideas; your essay should demonstrate your own understanding and analysis of the Scenario.

Your Scenario Essay may be completed in English or Chinese, at your discretion.

Please submit your Scenario Essay directly to Michael Chou, CAS International Relationship Manager, at mchou@casact.org

Please submit your Scenario Essay from the same email address that you list in your Application form, as we will be using your email address administratively as a link between the Essay and the Application.

ADDITIONAL RULES
Your application and Scenario Essay may be submitted in English or Chinese, at your discretion.

Your completed application, including the Scenario Essay, is due by JANUARY 31, 2018. Applications that are late or incomplete will be disqualified without any consideration to partial information received.

• Please complete your Application on-line using the survey instrument below. Click here for a sneak peek at the Application questions.
• Submit your Scenario Essay, in electronic format, via email to Michael Chou: mchou@casact.org

Please submit your Scenario Essay from the same email address that you list in your Application form, as we will be using your email address administratively as a link between the Essay and the Application.


Submit all inquiries and Scenario Essays in electronic format to:
Michael Chou
mchou@casact.org

The Scholarship Committee may contact a small number of the top applicants to conduct a telephone (or Skype) interview.

A current official transcript may be required from selected candidates; we will contact you if we require an official transcript.

The award decision will be made no later than March 31, 2018.  The decision of the Scholarship Committee is final.

It is the intent of ARECA and the CAS to publish the winning Scenario Essays, with attribution to the author of each. Please see the Copyright and Publication agreement in the application form.

 Application materials, including the essay, will not be returned to you.

ABOUT ARECA
Asia Region Casualty Actuaries (ARECA), based in Asia Pacific, is a Regional Affiliate of the Casualty Actuarial Society (“CAS”). ARECA is one of 18 CAS Regional Affiliates providing high-quality education opportunities to CAS members, candidates, students and other risk professionals across the world.

ABOUT THE CAS
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. Founded in 1914, the CAS is the world’s only actuarial organization focused exclusively on property and casualty risks and serves over 8,000 members worldwide. Professionals educated by the CAS empower business and government to make well-informed strategic, financial and operational decisions. Learn more at www.casact.org.

ABOUT AXIS
AXIS is part of the AXIS Capital group of companies, which includes global insurers and reinsurers providing clients and distribution partners with a broad range of specialized risk transfer products and services.  AXIS generously has provided the funding for the 2018 ARECA Scholarship. Learn more at www.axiscapital.com.