Asper-Science Case team places first at Munich Re Cup
UM team wins North American actuarial competition
On March 12, UM students added another case competition win by placing first at the Munich Re Cup, an actuarial business case competition open to students in the Canada and United States. The competition provides a chance for students to develop and apply their analytical, presentation, and problem-solving skills to real-world business problems. First place also receives a $13,000 cheque.
Asper students Yash Katyara, Hui Lin Cheong, Kevin Wong, and Faculty of Science student, Celia Dang competed against teams from University of Toronto, University of Waterloo, Georgia State University and Temple University. The competition challenged teams to answer how a life insurance company would cope with COVID-19, in relation to changing premium rates, sales projections, and altering risk assessment methods to replace changing traditional fluid testing approach.
“I feel incredibly lucky to participate in the competition with three amazing teammates that were filled with charisma and determination. We were able to support each other in times of confusion and doubts due to our urge of acquiring new experience,” said Asper team member, Kevin Wong. “Nevertheless, I believe that we won this competition due to our willingness and discipline to accept critique, mistakes and advice from our amazing Actuarial Club, alumni, and faculty coach – Hong Li.”
The team was assisted by competition coach, Warren Centre for Actuarial Studies professor, Dr. Hong Li.
“I am proud of the team’s performance. The team worked incredibly hard. I could see substantial improvements from each mock presentation,” said Dr. Li. “I am really happy that they won the competition. They deserve it!”