Vincent MOK

BSc in Risk Management Science
Reinsurance Group of America

I was honoured to have the opportunity to work for the Reinsurance Group of America as an actuarial intern in the product development team. This reinsurance company provides new business solutions to clients. During my internship, I assisted my team with new business development initiatives, which provided me with valuable experience.

First, my major task as an intern was to provide actuarial support for product development initiatives. I calculated the incidence rate of the new benefit that we proposed and produced the distribution for the insured across different issue ages. Then, I used the incidence rate to determine the net amount at risk and maximum limit of the quotation and to draft the pricing document for the quotation team. I also was able to develop a prototype for a new insurance product targeted at young professionals, which was the biggest challenge that I faced during my internship. I had to determine the needs of young professionals and suggest a solution for them. It took me almost a month to set up the product features and pricing direction for the team. In addition, I conducted research on modelling new business ideas and helped the local pricing team to validate assumptions regarding critical illness. Last, but not least, our team members gave me a lot of support throughout my internship, and I was pleased to work with them.

The RMSC programme has equipped me with solid knowledge of statistics, actuarial science, and finance, which played an important role in my ability to gain this internship opportunity as survival functions, probability theory, and the time value of money are frequently used in pricing. Therefore, I am grateful to be a student at RMSC, which provided me with strong support during my internship journey.

Sabrina SO

BSc in Risk Management Science
University of Toronto, Canada

During my exchange study in University of Toronto, I studied in Surveying modeling, probability and different distribution in Statistic and linear algebra in Mathematics. I also participating in various activities organized by different societies in the university, in which, I met lots of friends from all over the world and they enriched my exchange life a lot.

Apart from my study, this exchange experience helped me to be more independent and developed a clearer vision about my future and life goal. During the exchange, I lived in a town house with 3 roommates. Everyone has her own style of living and we need to learn to accommodate each other’s’ habit in order to live together. This strengthened my emotion and my cares towards others which is very important in ones’ personal development.
As a year 4 student, I also feel very frustrated about the future career path. The exchange period provided me a relax environment to experience more, learn more, meet more people. Under the relaxing, self-motivated and self-managed exchange life, I understand more about myself and discover the targets that I am longing for. Now, I have a clear goal that I work hard for.

I hope to express my sincere gratitude to the support from department and the sponsorship for my exchange study. This exchange does not merely give me a chance to explore more about the world, it also helps to equip me with more god personalities and strengths when encountering hardship. It enriches my life and enriches others’ life at the same time. During the exchange, I give advice and help to others. One day in the future, I will give what I receive to other student so that they can also gain a precious experience in their life time as what I can get now.