Timothy L. Rozar, FSA 2004, CERA, MAAA, FLMI, MBA
Reinsurance Group of America
Chief of Staff to the CEO
Brief Description of the type of work you currently do:
Strategy development and execution
Primary Area of Practice:
Other Areas of Practice/Interests:
Reinsurance, Research, Strategy
Why do you want to be on the Board?
My service on the Board for the past 3 years has been among the most rewarding times of my professional career. I feel that our profession is at an exciting crossroads with many important strategic challenges and opportunities to address. I would be honored to have the opportunity to continue serving the SOA as we address these issues to help position the profession for success for the next generation.
Ethics and Transparency
Ethics and transparency are essential to professional practice and service on the board. How will your own ethics and views on transparency influence your decisions and actions as a member of the SOA board?
Trust and transparency are the cornerstone of the insurance industry and the actuarial profession. The actuarial profession has long been held in high esteem for our independence, our adherence to ethical standards of practice, and our evidence-based approaches to problem solving. As actuaries continue to expand their capabilities into new and emerging areas including advanced data analytics, new technologies, and genetics, it is imperative for actuaries to rely on these standards to serve both as responsible leaders and as ethical stewards of the proper use of these tools. I have long been involved in the advancement of innovation and data science in actuarial practice, but have also been very vocal about the need for keeping the consumer’s best interest at the center of all we do. I will continue to bring this approach to the board as we wrestle with key decisions on the future of actuarial education, research and innovation.
Collaborative working relationships are essential to the governance function of the SOA Board of Directors, especially as board members work with each other, volunteers, and staff to advance the direction of the SOA. We need both leaders and team members. Describe a situation from either your professional or volunteer experiences that demonstrated where you can be effective in each of these roles.
I have been very fortunate throughout my career to both lead and be a part of great teams. Among the best experiences I have had, however, has been as a member of the SOA Board during the past 3 years. During this time, we have worked through some of the most impactful decisions in the history of the organization including overhauling the organization of the research function, responding to the rapid rise of InsurTech and considering a combination with another actuarial organization. In addition, we have changed the way in which we identify, prioritize and respond to emerging environmental trends. Over the past 3 years, the Board has been actively engaged, highly professional, and very collegial. In short, it has been both meaningful and fun. I have learned from experienced actuaries as well as from actuaries who have different perspectives or backgrounds than me. I have had the opportunity to spearhead the SOA’s strategy in response to InsurTech, chaired the Issues Advisory Committee that implemented the new environmental scanning and generative discussion processes to organization, and am currently part of the team that is leading the effort to develop a long-term growth strategy to ensure that the organization is sustainable in the face of many external challenges over the long run. I strive to be respectful of my colleagues, to both seek and provide constructive feedback, and to challenge us to achieve far more than we could on our own.
Board members need to exhibit curiosity and a desire to learn about areas that may potentially impact the SOA and the profession. How will you apply that knowledge as an elected Board Member?
I am a lifelong learner with a restless curiosity. I try to stay current within the industry and beyond by monitoring emerging trends, participating in conferences and extensive reading. I think that my biggest strength is in strategically connecting dots that may not seem obvious. I have had the good fortune of traveling around the world in my job to experience work and life in different cultures and to learn from colleagues from diverse backgrounds and perspectives.
Respectful and prudent use of resources is an important function of all board members. Explain how you have demonstrated this characteristic in either your work or volunteer experiences and how it will carry over to your role on the SOA Board.
During my board service I have learned that the organization does not lack in ambition, but we are often constrained by the time of the staff and volunteers. It is important for a board member to help the organization focus on the priorities that are most aligned with advancing our strategic goals and keeping a fiduciary eye on the utilization of these resources. During our exploration of combining with the CAS, it was critical to ensure that the staff had the resources they needed to keep the SOA activities running as needed while also de-prioritizing some initiatives that could be delayed until after the combination discussions had been completed.
Provide a brief description of your professional background and the type of work you have performed and explain how these experiences have prepared you as an Elected Board Member and qualify you in carrying out the strategic direction of the SOA.
My current role is Chief of Staff at Reinsurance Group of America, a global life and health reinsurance company. In this role, I serve on the Executive Committee and am responsible for development and execution of our corporate strategy in support of our CEO. This role is the culmination of many years working in various leadership, innovation and strategy roles throughout the organization which provides me with a broad perspective across many global markets and product lines. Prior to my current role, I was the founder and CEO of RGAX, an innovation accelerator and business unit focused on launching and scaling new business innovations. In that role, I had an opportunity to become involved in the InsurTech ecosystem as we forged partnerships and investments in early stage companies looking to bring new innovations to the insurance industry. Prior to that, I was the Global Head of Research and Data Analytics for RGA, responsible for launching and scaling our data science and predictive analytics practice as well as leading our biometric research, strategic research, innovation, and experience study teams. I have previously led many industry research projects, primarily analyzing the value of new underwriting tools and the experience of unique cohorts of business.
Volunteer and Governance Experience
Describe how your volunteer, personal and governance experiences would strengthen your contributions to the SOA Board, the organization, and strategic plan execution.
In addition to my past 3 years on the SOA board, I have also previously served as the chair of the SOA’s Product Development Section Council and as a member of the SOA Technology Section Council and the Committee on Life Insurance Research. I am also a past president of the St. Louis Actuaries Club. I currently serve on the board of directors of United Way of Greater St. Louis and Junior Achievement of Greater St. Louis and on the advisory board of the Longer Life Foundation. Each of these experiences has provided me with a different opportunity to learn from passionate volunteers to advance the various organizational missions