In this episode, I interview Mallika Bender, the Diversity, Equity & Inclusion Staff Actuary at the Casualty Actuarial Society (CAS). Mallika’s journey into the insurance world was somewhat serendipitous. Always excelling at math, she majored in statistics and loved “how numbers could explain the world around us”. Her path became clear when she bought a book about careers for math majors, and “actuary” stood out as a perfect match for her skills and interests. Mallika shares how her volunteer work and passion for DEI evolved into a full-time role at CAS, allowing her to focus on increasing diversity within the actuarial profession and addressing racial and algorithmic bias in insurance pricing.

Mallika dives into the specifics of her work, discussing the major research and collaboration efforts she leads at CAS. One of her proudest achievements is the series of research papers on bias in insurance, with four already completed and five more expected this year. These papers are crucial for fostering safe spaces where actuaries can discuss and address these important issues. Mallika believes that every actuary brings unique experiences to their work, and leveraging these diverse perspectives can significantly enhance the industry. She hopes for a future where the actuarial profession thinks wider and deeper, informed by a variety of perspectives. This episode sheds light on how DEI can be applied beyond talent and pipeline issues, directly influencing the products and services offered to insurance customers.