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​Team Nanyang places second in international case-study competition

Published on: 29-Nov-2018

Team Nanyang competed against more than 70 teams from all over the world and clinched the second place in the Societies of Actuaries (SOA) Student Research Case Study Challenge held in May 2018. 

SOA, world’s largest actuarial professional organisation, is dedicated to advancing education and research for the actuarial profession. The SOA Student Research Case Study Challenge provides students the opportunity to apply their actuarial skills on a real world problem.

Victory for Team Nanyang: (from left to right) Jeremy Lim, Yang Yuan, Xu Yan Bin and Tan Yong Jia Glenn. 

Team Nanyang is an odd combination comprising Maths undergraduate, Xu Yan Bin, and three NBS undergraduates, Jeremy Lim (Year 4 BUS, Actuarial Science), Yang Yuan (Year 4 ACBS, Actuarial Science) and Tan Yong Jia Glenn (Year 4 ACBS, Actuarial Science). 

The only non-NBS member of the group, Yan Bin, found out about this case competition through his family. Interested to give the competition a try, he approached Jeremy whom he knew from before. Jeremy then roped in Glenn and Yang Yuan, and Team Nanyang was formed.

Bonded by their common passion for actuarial science, the team spent eight weeks working together on the highly competitive challenge. The team was tasked to review the sustainability of a country’s long-term care social insurance system – researching the situation, conducting actuarial analysis, formulated solutions, and presenting policy recommendations that ensure citizens’ future long-term care needs are met.

Adding to the challenge was the clash with the team’s final examinations. “We were informed that we got into the finals at the start of our final exams and the final presentation was at the end of our final exams. So we had to manage our time well,” said Yang Yuan

Thankfully for the team, they had a good mentor in Asst Prof Zhu Wenjun. “She was always willing to help. We would approach her when we faced certain technical issues and she gave us very good advice. She also reviewed our submission and provided us with valuable recommendations. Right before the final presentation, we had a rehearsal with her and she gave us feedback on how to further refine our work,” shared Yang Yuan and Jeremy.

The case study challenge was a meaningful experience for Team Nanyang. “This case study challenge felt like another internship experience, where we worked on real cases. We were able to apply what we learnt in class and the topic (long-term care) was also very special, we don’t usually get a chance to work on such topics.” 

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