It did not take Dr. Tianxiang (Tim) Shi long to start something in the UNL College of Business Administration. After joining the actuarial science faculty as an assistant professor in 2013, he made an immediate impact with his research and teaching.
“My first year at CBA was awesome. My colleagues in the actuarial science and finance departments are so supportive of each other it made for a smooth transition,” Shi said. “I would expect nothing less from a school honored by the Society of Actuaries as a Center of Actuarial Excellence.”
He came to CBA from the University of Waterloo in Ontario, Canada where he earned his Ph.D. in actuarial science in 2013. While at Waterloo, he we was named a prestigious James C. Hickman Scholar awarded by the Society of Actuaries from 2011-13.
Shi’s paper with colleagues Dr. David Landriault, associate professor of statistics and actuarial science at the University of Waterloo, and Dr. Wei Wei, assistant professor of mathematical sciences at the University of Wisconsin-Milwaukee, recently earned an individual grant from the Actuarial Foundation. Their paper, “Economical Capital and its Optimal Allocations in the Joint-Insolvency Risk Model,” was one of 11 papers awarded a $15,000 grant in 2014.
“It was very exciting to receive this grant,” he said. “The application process was very competitive because so many foundations had their budgets cut. It was a great honor to be recognized for this significant research in risk theory.”
Shi realizes the importance of sharing his knowledge and expertise with the future professionals in the field of actuarial science. This led the faculty to examine the curriculum offered at CBA to better prepare students for successful careers in the field. As a result, he will be speaking at the Critical Studies in Accounting, Economics and Finance (CSAF) Annual Meeting in Kansas City on September 8-9 about the challenges of developing a new course, Introduction to Property and Casualty Actuarial Science.
“Capital allocation and insolvency management are very important topics to insurance companies. In fact, we developed a new course to discuss these topics. Receiving this knowledge as a student will give them an advantage when they enter the work force,” he explained.
Shi is ready to start his second year at CBA. He hopes to instill the importance of research in the actuarial science students he teaches.
“In the future, I would like to see our students actively involved in actuarial research. That’s something I want to challenge our students to do more,” he said.