Board Member Candidate Questionnaire

Andy Wieduwilt, FSA, MAAA

AI / Technology

Describe your experience understanding, applying, and/or overseeing technology, particularly AI, data, and analytics to support strategy, operations, and decision-making, including how you consider technology’s limitations, risks, and impacts on business models, workforce needs, governance, and long-term growth. 

Through my leadership over the past five years, we have formally established a Data & Analytics area. Though originally modeled off of our P&C area with years of previous experience, we have continued to evolve to best meet our needs. This area is composed of both actuaries and data/technology analysts with assistance from data scientists. The blend of these roles gives me a unique viewpoint into how actuaries can work in a broader data analytics field.

The initial work of this team was to establish predictive models that could assist in the accelerated underwriting space. Over time, our models have been refreshed and now have enough data and experience to predict actual mortality events.

This team has also been instrumental in moving our legacy data into a cloud-based environment whereby it can be more readily leveraged and enable our models and advanced reporting abilities. These models and insights have led to business decisions and strategies to improve the customer experience, better match price to risk, and save our company money.

This area is actively advancing with new technology, and very recently we established AI pods to tackle some of our largest operational issues. AI technology has been deployed to facilitate easy inquiries from underwriters of our Underwriting Manual to improve efficiency and consistency. Such tools are now being used to summarize cases and improve claims processes. While broader than just actuarial, actuaries have been instrumental in developing such AI tools to help our company. These will help fuel long term growth.

Governance is a key aspect of data and analytics. We have a robust internal process to ensure data stewardship and model risk governance. This balance is necessary with all usage.

Board Experience and Readiness

Describe your prior nonprofit or corporate board experience and how you approach the board’s governance role (strategic oversight and mission stewardship), including how you distinguish governance from management and how you uphold fiduciary duties (care, loyalty, and obedience) in acting in the best interests of the organization. 

I have participated in several boards over the years, which gives me past experience and learnings to leverage.

First, I was a board member of the Illinois Life & Health Insurance Council (ILHIC) from 2016–2025 and was chair from 2021–2023. I helped provide strategic direction and oversight of the President of the organization. We developed a strategic plan including mission and vision of the organization, which had been lacking. In addition, during my chair tenure we established a committee structure (i.e., Executive, Finance, Membership Recruiting, Policy Position, etc.) to help provide strategic direction at a functional level. Finally, we redesigned our dues approach to financially right-size the organization. Upon my departure, we had improved the overall financial position, developed a north star plan for the future, increased membership, and developed key relationships and messaging with impacted constituents.

Second, I have been on two Advisory Boards at Illinois State University—Actuarial Department (2013–2023) and Katie School of Insurance & Risk (2023–now). My roles have been to operate from a strategic perspective, not influence or run the day-to-day. We provide oversight and insights from a business lens to help the college improve and best position students for future employment based on the changing environment.

Finally, I present internally to various State Farm boards for which I also operate as an Officer. I believe Boards provide key oversight and ask probing questions as to how the company intends to meet future needs and financial obligations. Acting in a fiduciary nature is critical and puts the needs of the organization first. A board should not dictate the daily management of staff leadership.

Corporate Leadership

Describe your senior leadership experience in corporate and/or not-for-profit environments, including examples of leading people, guiding decision-making, managing complexity, and providing strategic direction while upholding strong governance standards. 

I currently lead our Actuarial, Data & Analytics, General Underwriting/Claims, and Alliances teams with a staff of over 250 individuals, including 50+ actuaries. Through my role, I report directly to our SVP who oversees our Life, Health, and Investment Planning Services companies. In partnership with our SVP and my VP peer, I have annual responsibility to establish strategic direction and plans for the upcoming three-year period across all aspects of the companies. This actively involves staying in tune with current industry trends, external influences, and a rapidly changing business environment. Upon completion, I am actively involved in communicating with our 2,400 associates and actively manage to achieve our plans and objectives. I have to actively work with other areas (e.g., Marketing, Agency, Investments, Finance, HR, etc.) to prioritize and influence to achieve our objectives.

In addition to senior leadership at State Farm, I have had leadership experience externally. As previously mentioned, I have held board and advisory roles at Illinois Life & Health Insurance Council (ILHIC) and Illinois State University. In addition, I have been a member of the American Council of Life Insurers (ACLI) Life Insurance committee from 2018 until today with chair responsibility from 2022–2024. This is an industry group for federal and state lobbying positions on key issues.

Financial Oversight

Describe your experience providing financial oversight in a corporate setting, including your ability to understand and scrutinize key financial documents and reports, identify financial risks, develop mitigation strategies, and ensure regulatory compliance. 

Operating in a chief actuary role, I work closely with our Appointed Actuary and Finance teams. I participate in the quarterly financial process and am called upon to provide perspective from a Life Company standpoint to our CEO and CFO. We also have many financial reporting controls, and I represent all of Financial Services on an internal committee. Annually we are required to audit, test and complete all our financial controls with sign off to appropriate parties.

Also, I work closely with our team to identify financial risks and develop mitigating strategies. I sit on our Enterprise Economic and Capital Committee, which analyzes future risks across all aspects of the business and provides sensitivity testing. Our actuaries are instrumental in running such models which help in managing our business. For example, during the period of low interest rates in the early 2020's, we leveraged such reports to change rates/dividends and adjust our product offerings. Also, during this time, we established a more formal ALM committee whereby the actuarial and investment departments could more actively work together in managing our business.

Global

Describe your international experience (e.g., multinational corporations or significant projects abroad) and how your understanding of global markets, cross-cultural communication, and international business practices would contribute to SOA’s strategic positioning and international relationships. 

I have limited international experience. We used to have a Canadian organization, but we have since sold that company and only operate now within the U.S. I was responsible from a Life standpoint in the negotiations and selling of our Canadian Life business.

I do stay very active in understanding global issues and trends as I believe the world is closely tied together and trends in one area are likely to impact others. I will keep a broad perspective on all aspects from an actuarial perspective and what would be best for all members.

Not-for-Profit

Describe how, through your involvement with not-for-profit organizations, including the SOA, you balance mission-driven objectives with strategic success and operational sustainability especially in volunteer recruitment/coordination and incorporating diverse points of view. 

As previously mentioned, I was a board member of the Illinois Life & Health Insurance Council (ILHIC) with chair responsibilities for two years. This is a non-profit organization with the mission to best represent our industry and customers through state lobbying efforts. Through my leadership, we officially established our mission, vision, and belief system as to how we will operate moving forward. This helped refine our approach and provided a north star in our efforts.

In addition, the organization was having financial declines upon the transition of their leadership, and through a partnership with the new president, we were able to establish a new fair dues formula and approach to change the financial direction and make viable for years to come with expansion as necessary.

Member recruitment was critical to the organization, and we developed a formal board committee along such lines. Through our efforts, we were able to increase our membership, including through new carriers and constituents into the organization.

This organization also needed to be nimble given the rapid changes and efforts in state legislative efforts. For example, we saw a large influx of health insurance related bills which led to a shift towards more active position development within that marketplace.

Professional Education and Development

Describe your experience developing professional education programs for actuaries or other professionals—for example, in a university, employer, professional association, or SOA setting. Include examples where you designed, led, or managed learning programs, curricula, mentoring frameworks, or structured development pathways and how your approach was informed by how professionals learn. 

We have had a very formal education program at State Farm throughout my tenure. We review annually, look to have a competitive program industrywide, and evolve with any SOA program changes. We have a good track record of student success with most achieving their FSA designation.

I have also participated on an Advisory Board for Illinois State University (ISU) Actuarial Department. We helped provide oversight of the program and provided insights into business needs for students. This evolved beyond just actuarial classes as we also expressed desires for students to participate in communication and data classes as these were extremely important for top actuarial students. ISU also became a Center for Actuarial Excellence during my tenure.

At our company, we also have a mentoring program. I actively participate in mentoring leaders and associates across the organization. Succession planning and skill development are very important in leading organizations and ensuring future success.

Outside of formal actuarial training, I provided guidance for our Data & Analytics area to create and implement a data science program which our actuaries could complete. This was very helpful in broadening our actuarial abilities and being able to work with data scientists in various efforts.

Risk Management

Describe your risk management experience, including how you have identified and evaluated organizational risks (including reputational risks) and assessed or implemented appropriate risk mitigation measures.

Through my past experiences, I have participated on our Enterprise Economic Capital Committee, Model Risk Management Committee, Financial Council, Risk Council, Compliance Committee and ALM Council.

Each of those groups had an eye towards risk and developing risk lists and dashboards. Annually, we would review our top risks both on an inherent and residual basis after mitigation strategies. For our top risks, we would have deeper conversations and continue to watch throughout the year.

Actuaries are important in developing, analyzing, quantifying, and mitigating such risks. Our work led to actions when necessary to help improve our financials or risk posture.

Strategic Planning

Describe your involvement in strategic planning (including in a corporate environment), and how you have helped formulate vision, establish priorities, and allocate resources to support long-term success and effective organizational positioning. 

Through my senior leadership role, I have helped develop and lead our annual strategic plan for the past decade. This strategic plan encompasses all areas of our Life, Health and Investment Planning Services companies. We annually review our Mission, Vision, Beliefs, Strategy, Strategic Initiatives and KPIs. While the overall strategic mission/vision may change minimally each year, we need to be more active in establishing our strategic initiatives in a rapidly changing world. 

For example, AI is impacting all aspects of our business, so we've developed more formal AI plans. This includes the actual efforts themselves, establishing an AI team, and looking at employee skill sets for the future. This will help direct our development program for existing and new employees.

Finally, I'm responsible for communication to all our employees. This involves sharing our strategic plans, providing internal and external perspectives, and helping associates see themselves in our future direction. Continued communication is important as it's not a one and done activity. Also, we need to continue to share throughout the year our actual performance and what, if anything, may need to change.