School of Science, Engineering and Health Hosts Actuarial Science Forum

Participants at the IFOA engagement pose for a group photo

By Timothy Oiro

Actuaries are professionals who employ mathematical and statistical skills to solve financial and economic problems.  They evaluate risks that are likely to occur and devise ways to mitigate them when they certainly occur. Actuaries play a vital role in the insurance and finance industries by pricing insurance policies and projecting future claims to ensure financial stability and solvency.

[October 27, 2025] The School of Science, Engineering and Health in partnership with the Institute and Faculty of Actuaries (IFOA), the Daystar University Student Actuarial Association (DUASA), the Actuarial Society of Kenya (TASK), and Actuarial Students Society of Kenya (ASSK) to host a forum for Actuarial students.

The event, which was held at Daystar University Nairobi Campus, witnessed a convergence of actuarial students from different universities across the country who came together to share ideas on how to navigate their profession while studying and thereafter. The conference provided an opportunity for actuaries to interact one-on-one with key industry players who are already practicing. 

The main highlight was the keynote address by former President of the Institute and Faculty of Actuaries (IFOA), Ms. Kalpana Shah, who shared from her professional journey.

She stated that at the beginning she didn't have a clear career plan when she decided to pursue mathematics at the university. After taking a couple of jobs in the UK, she eventually transitioned into the insurance sector.

"All your experiences in life will help you in the future. Don’t miss out on an opportunity because logic has taken over but rather take the risk," she advised.

Ms. Shah recounted her career growth, “I went on to work at Willis Towers Watson where I became Chief Actuary, and later proceeded to become a Non-Executive Director." In this latter role, her function was to oversee strategies through Risk Committees and Audit Committees.

She concluded her remarks by emphasizing the important role of the IFOA as an organization with a global representation of 15,408 students, which is committed to equipping actuaries with the necessary skills to respond effectively to the rapidly changing world.

The second session entailed a panel discussion moderated by Mrs. Kalpana Shah, which focused on the challenges and the experiences of working abroad. The Group Actuary at ICEA Lion, Mr. Anthony Muturi, noted that his main challenge was culture shock when he relocated from USA to Japan, particularly the language barrier.  He noted that he had no option but to acclimatize and appreciate his colleagues from a different culture. Mr. Muturi encouraged participants to brace themselves and be open-minded to different cultures in their careers.

Mr. Asaph Ngecha, FIA-Group Actuary-Britam, stressed the importance of personal branding as an individual. “You are a cultural ambassador of your country, and how you present yourself matters,” he said, stating that actuaries should endeavor to portray exemplary character in their professional career. He concluded his remarks by encouraging participants to invest their time in deepening their learning curve in their profession.

Mrs. Cecilia Augustine (FIA-Head of Medical at ZEP-RE) acknowledged the importance of perseverance, hard work and consistency in the profession. Underscoring that it took her 10 years to earn the Fellow of the Institute in the Faculty of Actuary, she encouraged the participants not to give up but to work hard and maintain professionalism in their career.

The conference ended on a high note, leaving the participants and aspiring actuaries to soldier on in their career paths, despite the challenges they may encounter.

DUASA, as stated in its mission, is committed to equipping its members with relevant skills, preparing them for the professional market through academia and  co-curricular exposure in the actuarial profession.