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Professional Development:
New-Hire Training and Rotations
Jill Petker
VP and Actuary, National Market
Liberty Mutual Group
CAS Annual Meeting 11/11/02
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New Hire Training
• Goals
CAS Annual Meeting
• Syllabus
• Instructional Methods
• Other Training
• Evaluation
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Goals
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• Introduction to Insurance and Actuarial
concepts and analyses.
• Foster a sense of excitement and curiosity.
• Foster a sense of peer group.
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Syllabus
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Insurance as Risk Sharing
Coverages, Industry Structure
Loss Development, Reserving
Ratemaking, Rating Plans
Reinsurance
Financial Reporting
Underwriting, Claims, Loss Prevention
Liberty’s Strategic Business Units
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Instructional Methods
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Self-study reading.
Practice exercises.
Guided Intra/Internet research.
Classroom discussion.
– Live excel worksheets.
– Guest speakers!
• Field trip.
• Presentations by trainees.
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Other Training
• Complemented by on-the-job training
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• Other skills through other courses:
– Business writing
– Presentations
– SAS programming
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Evaluation
• Participant reaction
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• Testing
• Application
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Rotations
• Goal: Breadth of experience.
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• Required through (roughly) ACAS level.
• Term is generally 1 ½ - 2 ½ years.
• Three considerations:
– Experience needed to fill out background.
– Where we have openings.
– Rotators’ preferences.
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