Election Messages
Timothy Rozar, FSA 2004, MAAA 2001, CERA 2008 (endorsed)
RGA Reinsurance Company
Senior Vice President and Chief of Staff to the CEO
Chesterfield, MO
Questionnaire | Candidate Page | Video Message
Message One
I am incredibly proud to be an actuary and an endorsed candidate for President-Elect and Vice Chair of the SOA. My time as a volunteer with the SOA has been among the most rewarding of my career, offering me countless opportunities to collaborate with, learn from, and be inspired by so many of my fellow SOA members. This is an exciting time for our profession, and as I look up and down this year’s ballot at all the candidates for President-Elect, Board of Directors, and section councils, I see a very bright future for the SOA.
For those of you who don’t know me, I am currently Senior Vice President and Chief of Staff at Reinsurance Group of America (RGA) and serve as a member of RGA’s Executive Committee, leading the enterprise strategy, communications, and environmental, social and governance (ESG) teams. I previously served as founder and CEO of RGAX, an Insurtech accelerator and innovation lab, and as RGA’s Global Head of Research and Data Analytics. With the SOA, I have served as a member of the Board of Directors, as chair of the Product Development Section council and the Insurtech Task Force, and as a member of the Technology Section Council, the Research Executive Committee, and many other committees and project oversight groups.
Today I am writing to ask for your vote, but first you deserve to hear about how my background and experience have prepared me to address some of the biggest issues and opportunities facing the SOA.
Strategy Development and Execution
While on the SOA Board, I served on the subcommittee that led the development of the new strategic plan – a plan that will expand the opportunities for actuaries and ensure that the SOA and its members are well positioned for the future. I also chaired the Issues Advisory Council, the Board committee responsible for strategy, which led an effort to institutionalize strategic environmental scanning and generative governance to identify and respond to emerging trends. In my role as Chief of Staff at RGA, I oversee the enterprise strategy function that is responsible for developing and executing our strategic plan, and my educational background includes an MBA from Washington University’s Olin Business School where I focused on strategy, organizational behavior, and corporate governance.
Research
The SOA’s mission statement starts with the words “through education and research,” which highlights the importance of the SOA’s role as a trusted, independent, data-driven provider of research content. I served as the SOA Board liaison for research, and have served on the Research Executive Committee, the Committee on Life Insurance Research, and several research project oversight groups. At RGA, I was the first Global Head of Research and Data Analytics and was responsible for publishing and presenting original research on topics including predictive analytics, post-level term, data-driven underwriting, technology, innovation, and behavioral science.
International Growth
As an executive at a global life and health reinsurance company, I have led multi-national teams and worked directly with clients and colleagues in many international markets. This experience has helped me better appreciate the differences in culture, regulation, and consumer expectations that influence actuarial work around the world. In my travels, I have had the honor of presenting to the Actuarial Society of Hong Kong, the Institute of Actuaries of Japan, and the International Actuarial Association as well as to actuarial groups in China, South Korea, Malaysia, Australia, South Africa, the U.K., and throughout continental Europe and the Americas.
Emerging Areas of Strategic Importance
Data science, technology, and innovation are rapidly changing the paradigm of actuarial work. Actuaries have an important role to play in the innovation ecosystem, but we must respond quickly as the pace of change in this area is accelerating. My background in these areas includes launching and leading RGA’s Global Data Analytics team and serving as the first CEO of RGAX. As a volunteer, I chaired the InsurTech task force and served on the Technology Section Council and the Responsible Use of Data Advisory Panel.
These experiences have helped me develop the perspective, judgment, and strategic vision to lead the SOA. As President of the SOA, I will work with SOA staff and my fellow Board members to execute the strategic plan of the SOA, with a particular focus on the following goals:
Increasing the demand for SOA credentials by candidates and employers
The SOA facilitates a two-sided marketplace between employers and actuaries/candidates. To succeed and grow, the SOA must ensure that there is steady demand from both sides – demand from candidates for SOA designations and demand from employers for the knowledge, skills, professionalism, and rigor that actuaries credentialed by the SOA bring to the industry. Maintaining this demand will mean improving the marketing of the SOA credential to prospective candidates and employers and ensuring that actuaries of the future are prepared with both the technical skills and the business and communication skills they need to compete in an increasingly competitive marketplace.
Improving the focus and impact of SOA research
The research content developed and curated by the SOA is a unique and valuable asset that strengthens our brand and delivers trusted insight to actuaries, regulators, and other stakeholders. The SOA Research Institute has done an excellent job in recent years, including throughout the COVID-19 pandemic, in expanding the relevance and breadth of research, but more can be done to improve the scalability of research production, the timeliness of the research development cycle, and the reach and impact of research output.
Ensuring the long-term sustainability of the SOA’s financial and governance models
The SOA’s financial resources enable us to deliver on our education and research mission and respond to the evolving needs of our members. However, a years-long downward trend in the number of first-time exam takers and a pandemic-accelerated shift toward virtual and hybrid meetings make it more important than ever to better align the SOA’s revenue models with its costs. We also must improve the efficiency and effectiveness of our governance structure so that we can respond more quickly to emerging trends and better incorporate member input into the organization’s strategic initiatives and decision-making process.
Expanding the value created for members outside of North America
While we must maintain focused commitment to the needs of U.S. and Canadian members who represent the largest portion of our membership, we must also continue to expand our outreach and programs to meet the needs of members in China, Greater Asia, Latin America, and elsewhere, who account for much of our membership growth. Our approach will likely look different in each market, and it will require building lasting relationships with local actuarial organizations, universities, and clubs to determine where the SOA can provide unique value at scale.
Making real progress on diversity, equity, and inclusion within the actuarial profession
New ideas and perspectives enrich each of us as individuals and strengthen our profession, so we must strive as a profession to make more substantive and measurable progress on DEI. I am fully committed to supporting scalable programs that will expand awareness and opportunity among historically underrepresented populations and improve the equity and inclusiveness of our membership. I come to this topic with a great deal of humility, so I will also be listening to anyone with suggestions or ideas on how to move the needle. There is no easy or a quick fix, but it is vital to the long-term resilience of our profession.
Thank you for taking the time to review my qualifications and my priorities as President-Elect and Vice Chair of the SOA. I welcome you to send me any questions or ideas you have at timothy.rozar.soa@gmail.com.
Message Two
As the SOA Election season winds down, I first want to thank Sharon, Christine, and all the candidates for Board of Directors and Section Councils for the commitment that you have demonstrated to our profession through your willingness to volunteer and serve in leadership positions in the SOA. This spirit of volunteerism is vital to the success of the organization and gives me a great deal of optimism about our shared future.
I also want to thank everyone who has already voted and encourage those of you who haven’t to do so by the September 9 deadline. Last year, only 18% of eligible members cast a vote which in my opinion is unacceptably low for a volunteer-led membership organization. I have heard from some people that they don’t vote because they don’t know any of the candidates, which is understandable. To help overcome this, each of the candidates for President-Elect and Board have provided extensive information about their qualifications and goals as a leader which can be found on their candidate pages on the SOA Elections website, including their election message, questionnaire responses, and brief video message. I encourage you to review this information, make an informed decision, and exercise your right to vote.
If you have any questions about any of the information I have provided on my campaign page or would like to engage directly with me about any of the issues that are important to you, I encourage you to reach out to me directly at timothy.rozar.soa@gmail.com. I offer below a summary of my background and leadership priorities:
Professional Background
- Currently Chief of Staff to the CEO and a member of the Executive Committee at Reinsurance Group of America leading the enterprise strategy, communications, and ESG teams
- Previously founder and CEO of RGAX, an innovation lab and InsurTech accelerator
- Previously Global Head of Research and Data analytics at RGA
Volunteer Background
- Board of Directors
- Board Issues Advisory Council Chair and member of Long-Term Growth Strategy Subcommittee
- Product Development Section Council, Chair
- Research Executive Committee
- InsurTech Task Force, Chair
- Technology Section Council
- Ethical and Responsible Use of Data Advisory Board
- Committee on Life Insurance Research
- Louis Actuaries Club, President
- United Way of Greater St. Louis Board of Directors
- Junior Achievement of Greater St. Louis Board of Directors
- Maryville University National Leadership Council
Leadership Priorities
- Increasing the demand for SOA credentials by candidates and employers
- Improving the focus and impact of SOA research
- Expanding the value created for members outside of North America
- Ensuring the long-term sustainability of the SOA’s financial and governance models
- Making real progress on diversity, equity, and inclusion within the actuarial profession
Thank you for your consideration as you cast your vote.