New gift supports actuarial science at ASU

The School of Mathematical and Statistical Sciences at Arizona State University has received a gift provided by Blue Cross Blue Shield of Arizona to support the school’s new actuarial science program.

The Phoenix-based insurance company has established the Blue Cross Blue Shield of Arizona Actuarial Science Scholarship. The company contributed $30,000 to endow the scholarship to support a School of Mathematical and Statistical Sciences student specializing in actuarial science.

The scholarship is the first at the School of Mathematical and Statistical Sciences that specifically benefits actuarial science majors. The school’s new actuarial science program, which is accepting students for fall 2014, will train qualified graduates to earn professional actuarial credentials, thus enhancing the workforce for insurance companies and other organizations. ASU offers the only undergraduate actuarial degree program in Arizona, and one of only a few such programs in the inter-mountain west.

Housed at the School of Mathematical and Statistical Sciences, the bachelor of science in actuarial science program was established to give students a strong background in mathematics, statistics and business. Students must pass a series of exams to become certified actuaries. The first several exams can and should be attempted during their undergraduate studies. The remaining exams can be completed while on the job.

“We’re proud to establish this scholarship in support of the School of Mathematical and Statistical Sciences and its students,” said Sandy Gibson, executive vice president and former chief actuary at Blue Cross Blue Shield of Arizona, who began her actuarial science career at ASU. A member of the new ASU Actuarial Advisory Board, Gibson added, “By providing support for the students in this new actuarial science degree at ASU, we are investing in the development and growth of the next generation of actuaries.”

Al Boggess, director of the school, said the gift “will help qualified undergraduates pursue this new degree which will prepare them for one of the most lucrative careers in the country. I sincerely thank Blue Cross Blue Shield of Arizona for their generosity.”

The first Blue Cross Blue Shield of Arizona Actuarial Science Scholarship of $1,000 will be awarded this fall to a full-time undergraduate actuarial science student at the junior or senior level. Recipients will be known as the Blue Cross Blue Shield of Arizona Actuarial Scholars.

Blue Cross Blue Shield of Arizona, an independent licensee of the Blue Cross and Blue Shield Association, is the largest Arizona-based health insurance company. The not-for-profit company was founded in 1939 and provides health insurance products, services or networks to more than 1.2 million individuals.

The School of Mathematical and Statistical Sciences is an academic unit in the College of Liberal Arts and Sciences.