With an undergraduate enrollment of just 78 students in fall 2024, the actuarial science program is among the smaller offerings at the Ivy College of Business. Despite enrollment numbers, the program finds itself included in College Transition’s 2024 rankings of the 38 best colleges for actuarial science and boasts a 100 percent job placement rate of graduates.
“Iowa State University’s actuarial science program symbolizes the mission of a land-grant university and the college – training the future workforce for the insurance industry,” said Rahul Parsa, teaching professor in finance and director of the program. “The insurance industry is also the second-largest industry in the state, and Des Moines is the country’s second-biggest insurance center. So, the program is helping a key business sector of the state and the country’s economy.”
Despite its economic importance, actuarial science tends to be a foreign concept to many. In simple terms, it applies math to a business setting, using statistical methods to analyze and manage risk within insurance companies. Students in the major need to host a strong affinity for mathematics and a passion for the field, two qualities easily found in Jack Turcotte, a sophomore studying actuarial science and finance.
Born and raised in West Des Moines, Iowa, Turcotte found enjoyment in the world of mathematics from a young age. After taking a liking to statistics in high school, his teacher introduced him to the actuarial profession. While not completely sure if actuarial science was the right path for him, Turcotte decided to give it a shot at Iowa State, which is a decision he reflects on fondly.
“It is a delight to have him in class. Jack possesses what every actuarial student must have – discipline, organization, and hard work. Getting two internships by sophomore year is a testament to his character and work ethic. I see a great future for Jack.”
— Rahul Parsa, director of the actuarial science program
“Iowa State’s beautiful campus blew me away from the beginning,” said Turcotte. “Ever since I visited, I knew it was the place for me.”
His experience with Ivy’s actuarial science program has been challenging and exciting. Turcotte attributes this enjoyable experience partly to the incredible professors involved in the program, like Parsa.
“There is never a dull moment with Dr. Parsa,” said Turcotte. “He is hilarious, and we always have a great time. He is also incredibly knowledgeable on the field and always a tremendous help, so you get the best of both worlds.”
Professors like Parsa are a big reason why Ivy consistently has a meaningful impact on student success. Taking advantage of this support network is another way Turcotte has been excelling at Ivy.
“It is a delight to have him in class. Jack possesses what every actuarial student must have – discipline, organization, and hard work,” said Parsa. “Getting two internships by sophomore year is a testament to his character and work ethic. I see a great future for Jack.”
Getting involved
Outside of the program, Turcotte has utilized Ivy’s resources and services to make the most of his time at Ivy.
“My Academic Advisor Erica Petersen has completely transformed my experience at Ivy,” said Turcotte. “Not only is she incredible at her job, but she is also an amazing person.”
One way in which Petersen helped guide Turcotte early in his collegiate journey was by introducing him to the many different leadership and involvement opportunities that Ivy has to offer, which Turcotte was pleasantly surprised by.
While only in his second year at Iowa State, Turcotte has wasted no time building an impressive resume of involvement.
- Delta Sigma Pi – member.
- Sigma Chi International Fraternity – founding member.
- Gerdin Leaders Academy – graduate.
- Actuarial Science Club – treasurer.
- Ivy Business Learning Teams – peer mentor.
- Kairos Student Ministry – member.
- Baking Club – member.
He also participated in seven intramurals during his freshman year, which he noted as an absolute blast and a great help in building his social network.
One involvement that had a special impact on Turcotte is his involvement in the Mu Psi Chapter of Delta Sigma Pi, which was recently named the National Winner for the Most Improved Collegiate Chapter of Delta Sigma Pi.
“Joining my professional business fraternity has significantly boosted my professional development skills,” said Turcotte. “Surrounding myself with highly motivated, ambitious future business leaders has helped me tremendously.”
Another involvement that has been a tremendous aid to Turcotte’s progression in his academics is the Actuarial Science Club.
“The Actuarial Science Club has significantly helped me understand the path that I must take and how to succeed,” said Turcotte. “As treasurer of the Actuarial Science Club, I manage the club budget and oversee the finances. While the field experience is great, my favorite part of the involvement is meeting new people within the major.”
Outside of the classroom, Turcotte started early on his professional path. Last summer, he joined the Iowa Department of Insurance and Financial Services in Des Moines, Iowa, for the Insure Your Future internship, a program targeted at underclassmen interested in the insurance industry.
In the same time period, Turcotte interned with Continental Western Group (a Berkley Company) in Urbandale, Iowa, as an underwriting intern.
“Underwriters and actuaries work hand in hand, and I was fortunate to see both sides,” said Turcotte. “I got a great chance to better understand the industry I am passionate about.”
Through involvement and utilizing Ivy’s network and services, Turcotte has created an enjoyable and productive collegiate experience for himself thus far. With aspirations to one day find himself in an executive position at a Fortune 500 company, Turcotte’s passion for putting himself in the best academic and professional position possible continues to burn bright.
This summer, Turcotte will work as an intern with Principal Financial Group, an opportunity he is incredibly excited about. He also plans to grow his professional network within the financial industry.
To connect with Jack Turcotte or follow his collegiate and professional journey, visit his LinkedIn profile.
