2023 President-Elect and Vice Chair Candidate
Dave Dillon, FSA 2004, MAAA 2002
SVP & Principal, Lewis & Ellis, Inc., Dallas, TX
Instructor, School of Risk Science, Georgia State University
Introduction
As I prepare to undertake the esteemed role of President of the Society of Actuaries (SOA), I offer not merely my academic knowledge and practical expertise, but also an unwavering commitment and extensive, hands-on experience as an actuarial volunteer. This journey with the SOA, which began 15 years ago, saw me serving in numerous committee leadership positions, as well as diligently fulfilling my role on the Board of Directors from 2018 to 2021. During that period, I played the part of a 'nerdy', yet innovative, actuary who contributed significantly towards the formulation of SOA's strategic blueprint and long-term growth strategy. Now, with renewed vigor, I am excited to witness the growth and fruition of these efforts.
In my forthcoming role, I am prepared to guide our organization as we explore new frontiers, harnessing innovative tactics to expand and strengthen the influence of actuaries. This effort will necessitate engaging with a diverse community, allowing us to address societal concerns in fresh and unique ways. It is our mission to shape our actuaries into business leaders, effectively utilizing data, technology, and prudent judgment to devise responsible risk solutions. This involves providing them with requisite education and facilitating global research to aid them in navigating the myriad opportunities and challenges that they may encounter.
Over the years, I have served as a recognizable ambassador for the SOA, endeavoring to educate the public about the integral role that actuaries play. You may recognize me from media interviews where I discussed healthcare reform on behalf of the SOA, listened to my contributions to the SOA's health insurance podcast series, or even participated in our strategic health initiative targeting both SOA and non-SOA audiences.
In this rapidly evolving financial landscape, I believe that we must maintain a cutting-edge approach to our actuarial practice. Emerging technological concepts, such as Blockchain and InsurTech, may currently seem remote, but they hold the potential to fundamentally transform our profession. Hence, I consider it our collective duty to ensure that all our actuaries are informed, equipped with the necessary knowledge and perspective to confront diverse financial and societal challenges.
Those who have collaborated with me are familiar with the unique blend of enthusiasm, creativity, curiosity, and dedication that I bring to my work. My volunteerism with the SOA is a testament to my passion for this organization, and it is with this same passion, coupled with a hint of nerdiness and a profound sense of responsibility, that I eagerly look forward to serving our members and making a lasting impact. I am thrilled to undertake this journey with each one of you and am excited to see what we can achieve together!
Brief Description of Current Work
For nearly a quarter of a century at Lewis & Ellis, I've been navigating the twists and turns of the healthcare and health insurance sectors. I've been the go-to person for insurance companies, assisting with product development, valuation, and more. I've also put my forecasting hat on for state insurance departments, helping with rate reviews, financial analyses, and audits. And let's not forget the rollercoaster that followed the 2010 Affordable Care Act - I've been a steadfast guide, helping 23 states navigate the upheaval.
My volunteering journey has also been exceedingly rewarding. In 2022, I was honored with the Society of Actuaries' Presidential Award for my contributions. (More about my volunteering escapades later.) For now, let me tell you that working alongside SOA volunteers and staff, all fervently committed to advancing our profession, has been nothing short of inspirational. The camaraderie, shared passion, and friendships made along the way, make it all worthwhile. My engagement doesn't stop at SOA, as I serve on several American Academy of Actuaries committees.
In 2022, I had the joy of embracing a new role - teaching a Health Insurance class at Georgia State University's Actuarial Science program. This has allowed me to help budding actuarial talent while refining my communication, organization, and leadership skills. Sharing my knowledge with a diverse student body has instilled an immense sense of purpose and satisfaction within me. The nerd in me thrives on this, and I wouldn't have it any other way.
Primary Area(s) of Practice
Health
Specializations: Financial Reporting, Health Insurance-Commercial; Health Insurance–Public Systems; Product Pricing/Development; Regulatory; Valuation/Reserving.
Bio
As a consulting actuary, I've channeled my passion for numbers and problem-solving into a career centered around supporting insurance companies, state insurance departments, and others navigating the health insurance maze. From the Affordable Care Act to Voluntary Benefits and financial solvency, I've dived into the deep end of healthcare and health insurance. Over the years, I've cracked the complex actuarial code, guiding clients through an ever-evolving industry landscape filled with challenges.
However, my actuarial journey is not just about my role as a consultant. I've been a devoted 'scholar on a mission' to establish my presence as a distinguished thought leader within the industry. Since 2017, I have made over 50 appearances in national media outlets, providing expert commentary on issues related to national healthcare reform. You can frequently catch me sharing insights at speaking gigs or penning thoughts for publications, contributing to the buzzing dialogue on actuarial science and healthcare policy.
It all started with a love for numbers, earning me a Bachelor's degree in Mathematics from Oklahoma State University, which then led me to a Master's degree in Statistics and Actuarial Science from the University of Iowa. The journey has been thrilling, and there's still plenty more to come!
I began volunteering with the SOA in 2008, aiming to promote and advance the profession in every way I could. Here’s a summary of my volunteer work:
- Serving as an SOA Board of Director (2018-2021)
- Serving on the SOA Health Section Council (2015-2016) and Research Committee (2014-2018)
- Co-chairing the SOA HSC Educational Podcast Series (since 2015)
- Chairing the Commercial Healthcare Strategic Initiative (2017-2018)
- Coordinating 45+ sessions at SOA events, with four receiving Outstanding Session Awards
- Acting as an SOA media liaison on health insurance issues (since 2017)
- Participating in 3 SOA Health Research Project Oversight Groups
- Serving on the American Academy of Actuaries' Health Financial Reporting Committee (since 2017), Individual and Small Group Markets Committee (since 2019), and as an instructor for the Life and Health Qualification Seminar (since 2021)
- Joining the National Math Foundation Board in 2019
- Receiving the Volunteer of the Year Award (2017) and the Presidential Award (2022) attests to my commitment and passion for the SOA.
- As an SOA Board member, I contributed to developing and implementing the SOA's strategic plan and long-term growth strategy.
Additional Info
As we look ahead, my unwavering commitment to raising the bar for the actuarial profession stands as a testament to my dedication to serving the SOA Board and our global community of members. I'm determined to keep pushing the envelope, making a difference in every way possible.
Mark your calendars – the voting opens on September 6 and continues until September 27. (Keep an eye out for those results on October 2-3.) I would be honored to have your vote. Equally important though, I encourage you to weigh up all the candidates and make your voice heard. Your opinion is a valuable contribution to the conversation, and it matters to me and our entire organization.
Thank you for taking a moment to get to know me and my candidacy a bit better. If you'd like more information or simply want to share your thoughts: I'm all ears. Feel free to drop me an email at ddillon@lewisellis.com or ping me a message on LinkedIn.