Vega Kapoor
MMATH GRADUATE, ACTUARIAL SCIENCE
Predicting what’s next without a crystal ball
MATH
Vega Kapoor
MMATH GRADUATE, ACTUARIAL SCIENCE
Predicting what’s next without a crystal ball
Her career was off to a promising start. As an actuarial analyst with global consulting firm, Deloitte, Vega Kapoor was putting her education — a bachelor’s degree in Mathematics and MBA — to good use. She loved the work and the opportunity to deepen her skill set.
But something was missing.
“I was pretty happy with what I was giving to my company,” Vega says. “But I still felt that I needed some expert advice on the topics that I was applying. All my actuarial knowledge to that point had been self-studied. I needed someone to mentor me in the field.”
Five years prior, during her undergrad, someone had planted the seed about the University of Waterloo. “That ‘Waterloo’ word has always stuck in my mind. The Faculty of Mathematics is considered to be number-one in the world, and I wanted to learn from the best.”
A supported journey to Canada
Born and raised in India, Vega’s move to Waterloo to pursue the Master of Mathematics in Actuarial Science was a big transition — not only to a foreign culture during the pandemic, but also back to full-time studies after working for two years in a professional role.
Immigration consulting from the Student Success Office eased the process, and she was able to settle in well thanks to “immense support” from her professors, classmates and the international peer community at Waterloo.
Thinking outside the book in Actuarial Sciences
Vega describes the field of actuarial science as a blend of probability, statistics, mathematics, economics and accounting — a little bit of everything that companies need to consider when managing risk.
“In a funny way, I consider actuaries to be future tellers without crystal balls, but backed with numbers,” she says.
And she honed her ability to predict the future through a master’s research project under the supervision of Professor David Landriault. Focusing on auto insurance, the research explored the use of generalized linear modelling (GLM), a complex set of tools used to calculate insurance premiums based on a wide range of variables. In the case of car insurance, GLM factors in things like a driver’s age, how fast they drive, how many kilometres they travel and more, to tailor the premium they pay.
During the peak of the pandemic when there were fewer cars on the road, auto insurers provided rebates to policyholders whose driving habits had changed. Those and other changes in the market have increased demand for pay-per-use auto insurance — an area that Vega’s research explored.
While she enjoys the technical and risk management aspects of actuarial sciences, one of the most satisfying parts of studying at Waterloo was the opportunity to develop a well-rounded skill set, address real-world challenges and make a positive impact, even if it’s behind the scenes.
“At the back end, we as actuaries can make a difference for somebody’s insurance product — give them proper claims, charge them fair premiums — and, at the same time, manage risk and create fair results for the company. We’re able to indirectly do something good for society.”
Creative thinking meets technical acumen
In her free time, Vega keeps busy with creative projects like knitting and embroidery — “anything but being on my laptop.”
Despite the focus on numbers and logic in her studies, her creative side comes into play when she’s designing presentations, figuring out how to weave technical ideas into a story and finding innovative solutions to clients’ problems.
Looking to the future, she sees herself completing her actuarial exams and returning to a consulting role in the insurance industry, this time equipped with deeper skills and knowledge to expand her impact.
A supported journey to Canada
Born and raised in India, Vega’s move to Waterloo to pursue the Master of Mathematics in Actuarial Science was a big transition — not only to a foreign culture during the pandemic, but also back to full-time studies after working for two years in a professional role.
Immigration consulting from the Student Success Office eased the process, and she was able to settle in well thanks to “immense support” from her professors, classmates and the international peer community at Waterloo.
Thinking outside the book in Actuarial Sciences
Vega describes the field of actuarial science as a blend of probability, statistics, mathematics, economics and accounting — a little bit of everything that companies need to consider when managing risk.
“In a funny way, I consider actuaries to be future tellers without crystal balls, but backed with numbers,” she says.
And she honed her ability to predict the future through a master’s research project under the supervision of Professor David Landriault. Focusing on auto insurance, the research explored the use of generalized linear modelling (GLM), a complex set of tools used to calculate insurance premiums based on a wide range of variables. In the case of car insurance, GLM factors in things like a driver’s age, how fast they drive, how many kilometres they travel and more, to tailor the premium they pay.
During the peak of the pandemic when there were fewer cars on the road, auto insurers provided rebates to policyholders whose driving habits had changed. Those and other changes in the market have increased demand for pay-per-use auto insurance — an area that Vega’s research explored.
While she enjoys the technical and risk management aspects of actuarial sciences, one of the most satisfying parts of studying at Waterloo was the opportunity to develop a well-rounded skill set, address real-world challenges and make a positive impact, even if it’s behind the scenes.
“At the back end, we as actuaries can make a difference for somebody’s insurance product — give them proper claims, charge them fair premiums — and, at the same time, manage risk and create fair results for the company. We’re able to indirectly do something good for society.”
Creative thinking meets technical acumen
In her free time, Vega keeps busy with creative projects like knitting and embroidery — “anything but being on my laptop.”
Despite the focus on numbers and logic in her studies, her creative side comes into play when she’s designing presentations, figuring out how to weave technical ideas into a story and finding innovative solutions to clients’ problems.
Looking to the future, she sees herself completing her actuarial exams and returning to a consulting role in the insurance industry, this time equipped with deeper skills and knowledge to expand her impact.