Slope Software’s cloud-based actuarial platform will offer students a chance to experience real-world applications before graduation.
Slope Software, a cloud-based actuarial software-as-a-service provider, announced on Thursday that it has formed a partnership with the Actuarial Science Program at Florida State University (FSU).
Beginning with the Fall 2020 semester, some Actuarial Science students at FSU will use the SLOPE platform to complete a financial analysis investigation and integrate their conclusions with their coursework.
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“All majors have a writing component for their capstone course,” said Steve Paris, PhD, Coordinator of Actuarial Science. “This capstone project will allow students to see a real-world application, and practice communicating their results in a way that’s similar to what they might encounter early in their career.”
Traditionally, this kind of university/industry partnership has been limited due to the traditionally high barriers in using actuarial software. Those barriers have included significant hardware minimums and non-intuitive interfaces, leading to slow learning curves.
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As a result, many actuarial science students graduate without practical experience using software they may later apply in their career.
Such limits mean students are often very well versed in the theory, but not the application, of actuarial science. That reduces the chance of contributing value to their employers early, as they may spend a significant amount of time just learning how to use software.
In contrast, the no-code editor, drag-and-drop functionality, and integrated business intelligence module make working with SLOPE very intuitive. Users can achieve incredible speed-to-value, which will be essential for students with a fixed schedule.
Andy Smith, CEO of Slope, said, “It’s amazing how quickly we can have them using the same technology that Fortune 500 companies do.
“We’ve had people understand what they need to do within a couple of hours, compared to weeks or months of training required for some other systems,” Smith said. “That’s just going to make it so easy for these students to produce insights in their project without a lot of down time.”
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As a result of this partnership, FSU’s Actuarial Science graduates will have the opportunity for first-hand project experience with a typical business case they may encounter in the workplace.
During the project, students will investigate a business question using financial products such as life insurance or annuities that are on the market today. Such projects actively position students for quick contributions to their new employers.
The partnership will continue as Slope and FSU refine the project and feedback mechanisms.
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