Morgan Bugbee loves CAS research! He started volunteering in 2007 when he earned his FCAS designation and has continued ever since. After serving on the now-defunct Dynamic Risk Modeling Committee, he later became chair of the CAS Ratemaking Working Group.
Bugbee, who also holds a CSPA from The CAS Institute, earned a bachelor of music in performance studies and bachelor of arts in mathematics at Northwestern University. After 17 years at Farmers Insurance, he joined the insurtech scene. A native of Montana and a resident of Los Angeles, Bugbee is the director of data science at Quanata LLC, an internal startup of State Farm Insurance.
“As my appetite for reviewing research papers grew, I also became a reviewer for Variance and am now one of its associate editors,” he said. “Engaging in CAS research has been a driving force behind my professional growth and increasing passion for research over the years.” He also serves on the Board of the Southern California Casualty Actuarial Club.
Being involved with CAS research has multi-fold advantages, he said. “It has not only allowed me to contribute to the advancement of our field, but has also propelled my own education, affording me a front-row seat to the latest developments and innovations in actuarial methods.” This unique vantage point, he added, has been incredibly enriching, fueling his desire to lead and shape the direction of CAS research.
Bugbee became vice president-research & development in November 2023 to expand CAS research in new ways (see our cover story). “I am enthusiastic about the opportunity to leverage my experience and passion to lead our research initiatives, ensuring that we continue to push the boundaries of actuarial science and provide valuable insights to our members and the broader industry,” he added.
When Bugbee is not thinking about research, doing his paid job or encouraging his middle school children towards math and science, he can be found grilling picanha (also known as beef sirloin cap) and baking pão de queijo (Brazilian cheese bread balls) on the weekends. Beyond the Brazillian culinary influence, he also makes Asian food including kalbi and yang rou chuan (Chinese cumin lamb kabobs) or, for a spur of the moment dessert, he makes tang yuan (black sesame rice ball soup). To offset his cooking hobby, he lifts weights in his home gym.
Inspiring others to also become leaders, he sees leadership as fundamentally about taking initiative. “Volunteering to lead a task force, offering up ideas and suggestions when the question arises; if you do these consistently enough, then you’re leading.” Of course, he notes, leaders also deliver what they have promised. ●