Behind the Scenes of the 2024 Actuarial Teaching Conference (ATC): Insights from the Planning Committee
By Zhixin Wu and Xing (Clara) Wang
Expanding Horizons, November 2024
As members of the planning committee for the 2024 Actuarial Teaching Conference (ATC), we are excited to share the story behind this year’s event. Organizing a successful conference is no small feat—it requires careful planning, strategic networking and navigation of unforeseen challenges. Here’s an inside look at how we approached these critical aspects and the feedback we received from attendees.
Behind-the-Scenes Planning and Execution
The planning process for the 2024 ATC began nearly half a year in advance. A diverse planning committee comprising university professors, industry experts and Society of Actuaries (SOA) staff. After the time and location of the conference was confirmed, we reviewed schedules and feedback from past actuarial teaching and other related conferences and identified key themes and trends in actuarial education that would resonate with the current education environment and actuarial market. We decided to continue to offer concurrent sessions to allow inclusion of more presentation topics. Also, we aimed to make this year’s conference more engaging and interactive by introducing a new session format of roundtable discussions.
To structure the agenda, we chose topics highly relevant to the participants, such as enrollment and recruiting, student behavior and academic integrity, artificial intelligence (AI), and experiential learning. With the conference themes and structure in place, potential speakers and session chairs were contacted. We aimed for a mix of experienced professionals and fresh voices who could provide valuable insights and foster meaningful discussions. Moreover, we contacted speakers to ensure their content aligned with the conference’s goals and flowed smoothly into the roundtable discussions.
Challenges
Planning ATC involves several critical decisions that can significantly impact its success. Three of the most challenging aspects of planning were selecting and grouping presentation topics, organizing concurrent sessions and ensuring effective social interactions among attendees.
Choosing Topics
Choosing the topics for conference sessions is a fundamental challenge. The topics must be timely, relevant and engaging to resonate with a diverse audience of actuarial educators. One of the main difficulties was balancing the need to cover a wide range of interests while also focusing on emerging trends and pressing issues in actuarial education. We needed to identify topics that would appeal to both experienced educators and newcomers and cater to different programs within the actuarial field. Moreover, we had to ensure that the topics were not redundant, avoiding overlap while maintaining coherence across sessions.
To tackle this challenge, we analyzed potential attendees and their interest in various topics, including new areas like artificial intelligence, traditional themes like enrollment and recruiting, and more specialized topics like experiential learning. Additionally, we reviewed the schedule and feedback from previous conferences to identify recurring interests and gaps. Our planning committee then used this result to curate a balanced mix of topics addressing the latest trends and foundational themes. We also included roundtable discussions that allowed attendees to dive deeper into high-interest issues, providing more flexibility and choice in how they engaged with the content.
Scheduling Concurrent Sessions
Concurrent sessions allow for various topics to be covered simultaneously, but they also introduce the complexity of scheduling. Another primary challenge was ensuring participants did not have to sacrifice one vital session to attend another. With diverse interests among attendees, we had to schedule sessions strategically so that participants could maximize their exposure to topics of interest without feeling overwhelmed or missing out.
To address this challenge, we carefully analyzed the participants’ interests to identify topics that attracted similar groups of participants. We then grouped sessions based on themes, creating concurrent sessions that minimized direct competition between trendy topics. For example, we paired sessions on technical advancements with those on pedagogical strategies so educators interested in both areas could plan their schedules accordingly. We also staggered the timing of popular sessions, allowing attendees to switch between tracks if they wanted to participate in multiple topics.
Increasing Efficient Networking
A key objective of the 2024 ATC was to foster efficient networking among attendees. To achieve this, we integrated several innovative elements into the conference design.
First, the new roundtable discussions were strategically scheduled after related presentations or panels to encourage continued dialogue on high-interest topics. Each session offered participants a choice between two topics, enabling them to connect with peers who shared their specific interests. This format encouraged organic networking by providing a more intimate setting for discussions, idea-sharing and collaboration.
Second, we leveraged email and other social media to facilitate networking before, during and after the event. These platforms allowed attendees to view session details, contact conference attendees and participate in group chats focused on specific topics. They also extended networking opportunities beyond the physical boundaries of the conference, enabling attendees to stay connected and engaged.
Highlights from Breakout Sessions
What was new in this year’s ATC were the three 30- to 40-minute roundtable discussions spread across the two-day conference. This innovation provided an organized way for conference attendees to network, brainstorm ideas and engage in deep discussions on topics that the planning committee identified as being of high interest to most participants. For each session, attendees could choose between two topics, with the roundtable discussions strategically scheduled to follow related presentations or panel discussions. This structure allowed conference attendees to continue exploring topics with presenters, fostering a more comprehensive and interactive learning experience.
The roundtable discussions cover a range of pertinent topics. Session 1 offered a choice between enrollment and recruiting or student behavior and academic integrity. Session 2 focused on either building relationships with students or experiential learning. Finally, session 3 addressed artificial intelligence or small actuarial science program networking. Among these, enrollment and recruiting and artificial intelligence emerged as the most popular topics, reflecting current priorities and challenges in actuarial education.
Roundtable Discussion: Enrollment and Recruiting
The Enrollment and Recruiting roundtable saw active participation from Emily Rafferty, the director of Business Insights, Strategy & Innovation, who attentively listened to the concerns of actuarial program directors and documented their feedback. Many directors expressed apprehension about recent declines in enrollment and the challenges of recruiting students to their programs. These issues stem from an overall decline in university enrollment and increased competition from fields such as data science and business analytics, which are attracting potential actuarial students.
In response to these challenges, actuarial professors brainstormed innovative recruitment strategies. One key idea was to emphasize the social impact of the actuarial profession in promotional materials. This approach aims to highlight that being an actuary is not just about high salaries and work-life balance; it is also about making a meaningful contribution to society by helping people mitigate everyday risks. This message may resonate more strongly with socially conscious high school students.
Another suggestion focused on enhancing promotional efforts. Participants proposed that the SOA could adopt more engaging approaches to showcase its offerings to the academic community. This could involve updating promotional materials and distributing them at high school open houses, during prospective students’ campus visits or at program showcases.
To support smaller programs with limited resources, it was suggested that the SOA consider providing free registration for actuarial faculty to attend key SOA conferences, such as the ImpAct Conference. This approach has proven successful for other organizations in increasing faculty participation and engagement.
Lastly, the development and provision of free case studies and project materials for faculty members to use in their courses was proposed. This initiative would support educators and ensure that students work with relevant, up-to-date materials aligned with SOA standards, thereby enhancing the quality of actuarial education across institutions. (The SOA currently offers discounted registration for SOA conferences to academics, as explained on the website.)
Roundtable Discussion: Artificial Intelligence
The Artificial Intelligence roundtable discussions proved to be a fertile ground for exploring the integration of AI into actuarial education. Educators engaged in thoughtful dialogue about current trends and potential applications of AI in their field. They recognized that AI is not just a tool to be studied, but a powerful asset that can enhance the learning experience and prepare students for the evolving landscape of actuarial work.
One promising application is the use of AI in creating realistic, complex scenarios for case studies and simulations. AI can generate diverse datasets and market conditions, allowing students to practice their skills in a wide range of situations that closely mimic real-world challenges. This approach would better prepare students for the complexities they’ll face in their future careers.
Educators also discussed the potential of AI in assessment and feedback. AI-powered systems could provide rapid, detailed feedback on assignments, helping students understand their mistakes and learn from them more quickly. This would free up instructors’ time for more in-depth, conceptual discussions with students.
However, the roundtable participants also acknowledged the need for a balanced approach. While embracing AI’s potential, they emphasized the importance of maintaining human oversight and ensuring that students develop critical thinking skills that go beyond reliance on AI tools. They proposed integrating ethics courses that specifically address the implications of AI in actuarial work, ensuring that future actuaries can navigate the ethical considerations of AI use in their profession.
The educators concluded that incorporating AI into actuarial education is not just about teaching students to use new tools, but about preparing them for a future where AI will be an integral part of actuarial practice. By thoughtfully integrating AI into curricula, actuarial programs can equip students with the skills and knowledge they need to thrive in an increasingly technology-driven field.
Feedback from Attendees
The feedback from this year’s attendees was overwhelmingly positive. Many attendees praised the roundtable discussions for creating a welcoming and interactive atmosphere.
One participant noted, “The roundtable format was fantastic! It allowed for genuine conversations and meaningful connections that went beyond typical networking events.”
Another said, “I found the topics incredibly timely, especially the session on Artificial Intelligence. It’s something we all need to think about, and the discussions were very thought-provoking.”
A third attendee liked the overall format: “The conference was exceptionally well-organized. From the sessions to the networking events, everything ran smoothly, keeping everyone connected.”
And a representative from a smaller actuarial program stated, “It was refreshing to see the focus on supporting smaller programs. The discussions on enrollment strategies were very helpful, and I left with actionable ideas to implement back home.”
Conclusion and Key Takeaways
The ATC proved to be a resounding success. From the post-conference survey, 100% of respondents found it a valuable experience. Attendees particularly appreciated the opportunities for collaboration, idea exchange and networking with fellow actuarial professors. Learning about trends in actuarial enrollment and sharing best practices were also highlighted as key benefits.
A standout feature of this year’s conference was the introduction of roundtable discussions during scheduled break times. These sessions were well received by most participants, providing a focused setting for in-depth conversations on specific topics. The success of this format has led the SOA to commit to continuing roundtable discussions at future ATCs.
The success of the 2024 ATC can be attributed to meticulous planning, strategic networking efforts and adaptability in the face of challenges. Our team learned the importance of flexibility, early preparation and maintaining open communication among all stakeholders. By incorporating new elements, such as roundtable discussions and enhanced networking opportunities, we were able to create a dynamic, engaging and memorable experience for all attendees.
As we look toward future conferences, we are committed to building on this year’s successes. The planning committee is already exploring new ways to innovate and engage with and provide value to participants. Our goal remains to ensure that the ATC continues to be a premier platform for actuarial educators and professionals to learn, connect and grow.
Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries, the editors, or the respective authors’ employers.
Zhixin Wu, Ph.D., ASA, MAAA, is a professor of Business Analytics and holds the Ian M. Rolland Endowed Chair of Mathematical Sciences at DePauw University. Zhixin can be reached at zhixinwu@depauw.edu.
Xing (Clara) Wang, Ph.D., ASA, is an associate professor in the Department of Mathematics at Illinois State University. Xing can be reached at xwang70@ilstu.edu.