When Insurance Companies Need Answers, They Call LCM Alum Nathaniel Yankelev

“If we don’t do our job right, insurance companies will not be able to insure their customers,” said Yankelev, who graduated as LCM’s 2012 valedictorian. He credits his alma mater with preparing him for a career that’s both intellectually stimulating and offers a solid work-life balance.

Yankelev’s journey began at Chofetz Chaim in Cherry Hill, New Jersey, where he completed high school. He chose to attend LCM for college. “I felt LCM was the best option for me,” he recalled. “I had a lot of good friends, loved my rebbe, and appreciated the serious amount of time we spent each day learning. The student body was of such high caliber. I wanted a place that was a blend of learning and exposure to different secular topics, and LCM was that place.”

“Plus, I liked that LCM had a beautiful campus in a nice neighborhood, with plenty of great kosher restaurants nearby.”

Yankelev’s exposure to actuarial science happened almost by chance. He initially planned to major in finance, but a fellow student introduced him to actuarial science, and it didn’t take long for him to recognize a perfect fit. “Actuarial science is so merit-based,” he explained. “You do well on the exams, and you’re rewarded. You are recognized for your contributions and problem-solving abilities. It’s a very interesting field; you deal with engaging questions and constantly learn new skills, whether it’s programming languages or statistical modeling.”

His professors at LCM were equally invested in his success. One professor, Dr. Moshe Snow, became a mentor, helping him secure his first internship. “Dr. Snow went out of his way to connect me with people in the industry,” Yankelev said. “He introduced me to my first opportunity at Milliman Consulting, which opened the door for everything that came afterward.” During his time at LCM, Yankelev passed three actuarial exams. “I liked being able to take the coursework that lay the groundwork for studying for them,’ he said.

After graduating, Yankelev’s career quickly advanced. He moved to Passaic, New Jersey, and began working at ISO, a data provider in the property and casualty insurance industry. He started in a pricing role, analyzing specialty insurance lines, and later transitioned to financial analysis, where he prepared state-of-the-industry analyses and expense allocation recommendations for many lines of business, and got the opportunity to lead his first team as a manager.

When his team was moved to Poland, Yankelev transferred to his current role, where he evaluates changes to rating factors proposed by other staff actuaries. “We’re basically a second set of eyes,” he said. He’s also responsible for addressing regulator and customer questions and for product improvement. “I look at what we have and ask: how can we make this better?” Part of this process involves learning new technologies like SQL, Python, and R, as well as data science techniques such as cluster analysis. For him, the most thrilling aspect of the job is product enhancement. “There’s always something new,” he said. “Whether it’s a new technology, data concept, or a novel statistical approach, there’s always a way to improve.”

In addition to tech, Yankelev explained that actuaries need to also read up on the latest insurance news developments. As an example, he explained  the risks posed by PFAS—a class of synthetic chemicals that might become the “new asbestos” due to potential health hazards. “We’re scrambling to understand these risks and to make sure the insurance industry can weather them.”

“Insurance isn’t boring at all,” Yankelev continued. “There are so many different types of insurance, and no one person can master the entire field. There’s always something new to learn, whether through innovations, new papers, or fresh industry challenges. It’s incredibly engaging, and another great reason to be an actuary.”

An additional benefit of his job is a steady work-life balance, which allows him time for family and continued learning. He learns the Daf Yomi and spends much time daily on a Daf Yomi memorization/review program called Zichru—which he described as “mnemonics on steroids.”

In both his learning and career, Yankelev jokes that he aims for the stars. “If you aim for the stars, you probably won’t reach them,” he laughed. “But at least you’ll get pretty far.”