DePauw Stories

When Izzy Wilson ’26 began developing her college plans, actuarial science wasn’t on her radar. “I went into my senior year of high school with the expectation that I would be double-majoring in math and econ,” she recalls. “That’s what I thought I would be doing with my college career.”

But an interaction with her high school AP statistics teacher planted an idea she hadn’t previously considered. “She pulled me aside one day and was like, ‘Izzy, you’re really good at math. You’re super interested in statistics. I think you should look into actuarial science.”

Although Wilson wasn’t immediately sold on the suggestion, it did prompt her to reach out to DePauw’s Zhixin Wu, professor of business analytics and Ian M. Rolland Professor of Mathematical Sciences. At first, Wilson was just looking to gather information about the university’s actuarial science program. But once she arrived on campus and had a chance to take her first course in the program, she was hooked.

“I met with Professor Wu pretty quickly, and I realized that actuarial science might be for me,” she says. “I just kept taking more classes, and the more I learned about the career, the more it felt like the right place to be.”

Wilson hasn’t looked back since. Now as a senior, she’s grateful for how her introduction to this unexpected discipline has shaped her college experience. Not only has it has created opportunities to exercise leadership on campus — such as serving as the president of the DePauw Actuarial Student Organization (DASO) and joining the professional fraternity Gamma Iota Sigma (GIS) — but it has also placed her within a growing community of DePauw students who have found an academic home in a program that didn’t even exist two decades ago.

A Program on the Rise

Actuarial science is an interdisciplinary field that draws on mathematics, statistics, finance and economics to evaluate and manage risk. At its core, it combines quantitative methods with business insight to understand the financial impact of uncertain future events. Actuaries use probability models and statistical analysis not only to measure uncertainty but also to design strategies that help organizations and individuals manage risk effectively. Because of this, actuarial science is deeply connected to the broader practice of risk management, where data-driven analysis guides sound decision-making in the face of uncertainty.

Although actuarial science is a highly demanding course of study that requires multiple exams before one can achieve professional certification, it nevertheless offers a rewarding path toward careers in insurance, financial services or other industries that rely on risk evaluation and management.

“I’ve told my students, ‘If you want an easy career, this is not the one for you,’” says Wu. “There are so many requirements and high standards. But this is a career in which you can increase your position and your salary on your own efforts. You need to look at the long run. The growth here is long-term.”

When Wu first introduced actuarial science to DePauw’s curricular offerings in 2008, it was in the form of two courses that were geared toward helping students prepare for the exams aspiring actuaries must pass. By 2013, those courses had grown into a full-fledged major. And in 2023, an introductory risk management and insurance course was added to the curriculum. Combined with the risk management components already embedded in the existing courses, this addition created a comprehensive foundation that now defines the Actuarial Science and Risk Management (ASRM) program within the Department of Mathematical Sciences.

The resulting growth has been exponential. “We started with only one student in 2013,” recalls Wu. “Right now, we have about 30.” During that time, the program has also rapidly elevated its profile and credibility within the industry. It is currently recognized by the Society of Actuaries (SOA) with the Universities and Colleges with Actuarial Programs: Advanced Curriculum (UCAP-AC) status, and it recently achieved the Silver Level in the Casualty Actuarial Society (CAS) University Recognition Program, a testament to its academic rigor and alignment with industry standards. The program has also launched an official off-campus study partnership with the University of New South Wales (UNSW) School of Risk & Actuarial Studies in Sydney, Australia. This collaboration opens exciting global learning opportunities for DePauw students to study at one of the world’s leading actuarial programs, experience an international academic environment and strengthen their professional preparation.

For students, the growth of the ASRM program has presented a unique opportunity to stretch themselves in the classroom while taking significant strides toward a promising career.

“I’ve always been drawn to the intersection of mathematics, finance and real-world decision making,” says Darcy Tran ’26, a double-major in economics and actuarial science and risk management from Vietnam. “I wanted a field that is both intellectually challenging and impactful, and actuarial science perfectly combines the two.”

During her junior year, Tran was part of a team mentored by Wu that finished as runner-up in the highly competitive Spencer Global Student Risk Management Challenge. It was the first time a DePauw team had participated in the competition, its immediate success serving as confirmation of DePauw’s status among the nation’s leading actuarial programs. DePauw was the only liberal arts university to have a team advance to the final round of eight.

For Tran, whose recent summer internship at Reinsurance Group of America resulted in a return offer of employment, opportunities like this are all part of a well-rounded academic experience that has helped her begin to realize her full potential.

“My favorite part is how the major constantly challenges me to grow intellectually,” she says. “At first, math and statistics felt intimidating. But as I progressed, I discovered how rewarding it is to apply these tools to real-world problems. The program has not only pushed me academically but also taught me discipline, time management and persistence — especially when preparing for actuarial exams.”

More Than a Teacher

The growth of the ASRM program, however, hasn’t come easily. As DePauw’s sole actuarial faculty member, Wu has worked tirelessly to build the program into what it is today, taking on a full range of responsibilities.

“I do multiple jobs,” she explains. “Not only am I teaching, but I am also doing research with students, advising, networking, building connections in the industry, managing the guest speaker series, leading resume workshops and interview preparation — all kinds of stuff.”

Wu sees her role as comprehensive in scope. In addition to laying the academic foundation students need to thrive, she also invests her time into the countless details that will help them stand out to employers. Whether it’s teaching the finer points of workplace etiquette, helping an international student perfect their English or following up with an intern during the summer to offer encouragement and support, Wu’s commitment to her students leaves a lasting impression.

“It takes a lot of time, commitment and passion,” she says. “Only if you really care about your students’ success will you do this type of work. What makes our program special are our close faculty mentoring, strong industry connections with companies and excellent job and internship placements.”

In 2024, Wu’s devotion earned her the distinction of DePauw’s G. Bromley Oxnam Endowed Award for Service in 2024. But perhaps more importantly, it has earned her the respect and admiration of the students who look up to her.

“I’ve been very fortunate to work with Professor Wu, who has been incredibly supportive and accessible,” says Tran. “Her mentorship reflects what I value most about DePauw: professors are not just teachers, but true mentors who are invested in students’ success.”

Izzy Wilson agrees. After recently completing an internship at the prominent international firm Milliman, she has since landed a return offer after graduation. She’s quick to give credit to her professor and mentor for all the help along the way.

“Probably the thing I talk about the most is the level of adviser support,” says Izzy Wilson. “I can't say enough good things about Professor Wu. I would not be in the place that I am today if I hadn't had her support inside and outside of the classroom.”

Wu’s efforts are paying off. In two of the past three years, the program has seen a 100 percent job placement rate for senior actuarial science and risk management majors. And as these students enter the workforce and begin their careers, the companies hiring them are quickly taking note of the exceptional work ethic and talent they bring. Their success has earned DePauw an increasingly positive reputation throughout the industry.

“So many companies had no idea we had an actuarial science program at DePauw,” says Wu. “But in the past few years, they have hired our students and seen them do very well in their internships or full-time jobs. Now they realize that we have a very strong program — even if we are a small liberal arts college.”

Learn more about actuarial science and risk management and DePauw’s School of Business and Leadership.