1. Diversity in the Actuarial Profession CAS Spring Meeting May 2002

2. By Race/Ethnicity (1998) Inadequate Diversity in the U.S. Actuarial Profession

3. By Race/Ethnicity (1998)

4. By Gender Inadequate Diversity in the U.S. Actuarial Profession

5. Projection of U.S. Population by Race/Ethnicity, 2005-2070 Source: U.S. Census Bureau

6. The Allstate Experience Understanding the Problem Company Acknowledgement and Support of Initiative Initial Suggestions from CAS/SoA Joint Committee on Minority Recruiting Internal and External Activities THE ALLSTATE EXPERIENCE

7. Program initiated and owned by Human Resources Harold Washington College Scholarship Program –Allstate Foundation financial commitment –Supporting efforts by National Association of Junior Colleges and INROADS –Financial commitment: Includes tuition, books and housing –Allstate’s support commitment: Actuary advisor appointed to work with head of math department One actuary mentor per student Guaranteed internship –Student requirements: GPA of 3.0 math, 2.5 non-math Student in good standing Complete degree in maximum of 6 years Early Actions, 1995-1997

8. Current Initiatives M INORITY A CTUARIAL R ECRUITING T EAM (MART) Goal:Expose minorities to actuarial career possibilities while in high school and college. Established 1997 Actuarial department ownership of initiative Team comprised of: –Casualty actuaries –Life actuaries –Human Resources Allstate Foundation financial support

9. Minority Actuarial Recruiting Team MART Initiatives Career Fairs Summer Programs “Adopt a High School” Minority Student Scholarship Program F I N A N C I A L S U P P O R T

10. MART Initiatives Career Fairs PARTICIPATION AND SUPPORT CAS/SoA Committees on Career Encouragement Local high school career fairs University career fairs

11. Three components –Financial Support –Expertise –Involvement Howard University Illinois State University Other possibilities include Florida A&M, Georgia State University, etc. MART Initiatives Summer Programs

12. VISION MART Initiatives “Adopt a High School” STRATEGY To develop and implement a “Recruiting and Career Awareness” program to improve the representation of African American, Hispanic and Native American actuaries by undertaking activities to target audiences that include education and marketing of the career and relationship development with students and faculty. Create a diverse actuarial work force at Allstate.

13. Relationship with 15 high schools 2001 presented to over 500 high school students, faculty and parents Nearly 70% of students were African American or Hispanic -- 60% were female Developed and distributed “actuarial career packages” to students Partnered with Illinois State University and Howard University MART Initiatives “Adopt a High School”

14. NEXT STEPS Hold an actuarial open house for students, faculty and parents Refine communication process with high school teachers and administrators Develop an ongoing communication and tracking process of students Continue to partner with selected universities MART Initiatives “Adopt a High School”

15. SCHOLARSHIP PROGRAM Four year award at the rate of $4,000/year funded by annual request Additional funding provided by partner universities –University of Illinois Four new awards each year Internships are a key component of the program Rigorous eligibility requirements -- both to gain access and maintain scholarship MART Initiatives Minority Student Scholarship Program

16. UNIVERSITY OF ILLINOIS 12 scholarships awarded –11 African American students –1 Hispanic student 4 current scholarship students –2 Seniors –1 Junior –1 Sophomores MART Initiatives Minority Student Scholarship Program

17. WHAT WORKS Actuarial department commitment and ownership Corporate financial support Involvement from actuarial staff –Mentors, tutors, speakers, etc. Exam support “Real” internships Academic rigor Must maintain ongoing relationships with students and faculty Allstate’s Learnings