Celebrating The Modeling The Future Challenge On Giving Tuesday

SCHAUMBURG, Ill., Nov.
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SCHAUMBURG, Ill., Nov. 24, 2020 /PRNewswire/ -- The Actuarial Foundation is proud to participate in Giving Tuesday, the global movement celebrating generosity on December 1, 2020. The Foundation will observe this significant day by hosting a virtual happy hour that brings our friends and supporters together to share news of our Modeling the Future Challenge program and its recent successes. It is only with the help of our donors and volunteers that the 2020-2021 Challenge has hit a record number of registrations.  

Here are a few examples of what our supporters of the Challenge helped us accomplish this year:

  • Over 200 teams from 25 states have registered.
  • We developed a real-world-inspired actuarial process framework that helps students develop the core structure of how to identify, analyze and manage risks.
  • We mobilized a comprehensive social media campaign to bring more awareness of the Challenge and how teachers, students, actuaries, and math professionals can get involved.

The Modeling the Future Challenge (MTFC) is a national competition giving high school students the opportunity to develop and present their own mathematical models describing how a new technology or industry might change the future. For the 2020-2021 Challenge, the topic is an open theme, allowing students to pick a topic that is relevant and interesting to them. We provide them with some suggested data sources, but they also are encouraged to research on their own and to sift through data just as actuaries do.

"The use of real data to build models and work out a reasonable assumption to current world concerns was engaging to my students," said B. Silver, Kalani High School teacher. "Having their work reviewed by actual actuaries was extremely important to the project."

R.S.V.P. for our virtual happy hour on December 1 as we celebrate our best year yet for the Modeling the Future Challenge. We will feature program volunteers as well as Josh Neubert, CEO of the Institute of Competition Sciences, who will give insight into the scenario phases and the actuarial process and how they set the Challenge apart from other competitions. At the end, we will feature a panel of students and teachers who will share their experiences of how the Challenge has shaped them both individually and academically.

In addition to all our volunteers, friends, and supporters who helped make this the best year yet for the Challenge, we are grateful to our sponsors, Roy Goldman, Ph.D., FSA, MAAA, CERA and Rick and Beth Jones who together will generously match gifts for the 2020-2021 Modeling the Future Challenge up to a total of $5,000. R.S.V.P. today.

About The Actuarial Foundation

The Actuarial Foundation, a 501(c)(3) organization, is the only philanthropic institution for the actuarial profession in the United States. The mission of the Foundation is to enhance math education and financial literacy through the talents and resources of actuaries. The Foundation's vision is an educated public in pursuit of a secure financial future. Further information is available at: actuarialfoundation.org

CONTACT:

Holly MonahanThe Actuarial Foundation(847) 706-3659 Holly.Monahan@actfnd.org

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SOURCE The Actuarial Foundation