The purpose of UConn Actuarial Society is to encourage, establish, and enhance the professionalism of students in the Risk Management, Insurance, and Actuarial Science majors. Our goal is to prepare our members for quality employment opportunities in the risk management, insurance, and actuarial fields. As a student-run organization, we strive to build a sense of community and cohesion among members while improving their career opportunities through increased knowledge of the industry. In addition, we aim to prepare our members to interact comfortably with industry leaders, and form contacts that will serve them throughout their career.
In the beginning of the 2019-2020 Academic Year, UConn Actuarial Society took the place of a long-standing fraternal organization that UConn’s Actuarial Science students had been apart of for many years. Before this, the community of students was formed under the organization Gamma Iota Sigma, functioning as a chapter of a national fraternity. It was decided that it would be to the benefit of the many members of the organization at UConn if the transition was made into a individual society established by the current members of the fraternity. The functionality and benefits of the society have not changed, and the activities and involvement of our members remains strong to this day. This transition has had few impacts on the working capabilities of the society, and has allowed for higher involvement and engagement as the dues for UConn Actuarial Society have significantly decreased. Gamma Iota Sigma still holds a dear place in the heart of our current members and alumni and we are appreciative to that fraternity in it’s great dedication to furthering the actuarial field since 1966.
The idea of a national scholastic insurance fraternity actually started to become a reality when the Griffith Foundation for Insurance Education filed for incorporation in 1965. The following year, the OSU Insurance Society, which started at The Ohio State University in the early 1960’s, petitioned and was chartered as the first Gamma Iota Sigma Chapter, thereafter called Alpha Chapter. There’s the beginning of what has now grown into a nucleus of over 40 chapters located from California to Washington, D.C., and from Minnesota to Florida. A Grand Chapter or Executive Committee of Gamma Iota Sigma was formed from the original fraternity planning committee, appointed by the Griffith Foundation.
Our University of Connecticut-Storrs Gamma Iota Sigma Xi Chapter was chartered on February 12, 1978. The goal of the Xi Chapter and now the Actuarial Society here at UConn is to act as a professional and social medium for bringing together Actuarial Science majors. Members are united in their efforts toward the profession as well as in being college students.