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The Department of Statistics and Actuarial Science proudly celebrates the remarkable first-place victory by a team of its students, Team Factuarial, in the prestigious 2025 Society of Actuaries (SOA) Research Institute Student Research Case Study Challenge. Team Factuarial members include Math/BBA double-degree students Ki Yan Chan and William Zhang and software engineering student Kevin Jiang, along with faculty advisor Dr. Ben Feng from the Statistics and Actuarial Science Department. The annual challenge invites students to apply their actuarial expertise to real-world business problems, conducting analyses, developing models, and presenting recommendations to a panel of judges from the SOA Research Institute. Competing against 278 students in 68 teams from 42 universities across 17 countries and six continents, Team Factuarial secured the top honour and a grant prize in 2025.

Ki Yan, Kevin, and Weidong shared that "this experience taught us that before building anything complex or creative, it's essential to first consolidate the fundamentals. Throughout the challenge, we found ourselves consistently going back to core actuarial principles—whether it was building models, evaluating assumptions, or communicating our findings. We’re thankful for the generous support from our faculty advisor, Dr. Feng, the guidance from climate policy experts, and the support of the actuarial community at ��ݮ��Ƶ. This recognition means a lot to us, and we see it as a reflection of the incredible people and supportive environment we have learned from."

Dr. Feng praised the team’s performance, saying, “with exceptional ingenuity, rigorous analysis, and seamless collaboration, Team Factuarial tackled complex actuarial challenges with confidence and creativity. Their outstanding performance is a testament to their brilliance and commitment, inspiring pride across our department. Congratulations to Team Factuarial for this well-earned achievement!”

Reflecting on the program’s role, Dr. Feng added, “The Actuarial Science program at the University of ��ݮ��Ƶ is dedicated to fostering and supporting student innovation. Team Factuarial’s success highlights the vibrant, empowering environment we cultivate, where students are encouraged to push the boundaries of actuarial science and emerge as leaders in the field.”