St. Thomas sophomore Sarah Rumon plans to start a chapter of the national academic fraternity, Gamma Iota Sigma, at the university by February 2015.

Rumon, an actuarial science and statistics major, explained that the purpose of Gamma Iota Sigma is to prepare students for careers in insurance, risk management and actuarial science. Chapters of the national organization at universities across the country host events to teach their members professional skills and help them network in the insurance industry.

“I’m hoping that this will bring the soft skills like professional development to students, because to be successful in your career, you can’t only be good at your job – just crunching the numbers – you have to know how to communicate with other parts of the business,” Rumon said.

Actuarial science professor Thorsten Moenig agreed that the fraternity would bring a new perspective to St. Thomas students.

“We have a math and actuarial science club that is very much focused on ‘What does an actuary do?’ So we bring in speakers, we talk about passing the exams – tips and tricks for that,” Moenig said. “The part that I thought was missing was getting the broader insurance community involved.”

Moenig said an actuary’s job is no longer to just sit in a cubicle.

“As an actuary, you will be working in an insurance or in a consulting environment where there are other players as well,” Moenig said. “And you need to be able to communicate with these players.”

Rumon decided to organize a chapter of the fraternity at St. Thomas, so she traveled to a Gamma Iota Sigma leadership conference in Philadelphia in August to “seal the deal.”

“Everybody I met was really passionate about the insurance industry and were on their way to becoming successful professionals, and that’s something that I’d like to see at St. Thomas,” Rumon said.

About 20 students are working to gain recognition as a student-run chapter and university club in preparation to be officially chartered next semester.

“I think it is safe to say that everyone involved in this effort is excited to establish a local chapter and benefit from the opportunities for learning, networking and developing as young professionals,” junior Ashley Sutton, one of the students helping Rumon charter the organization, said.

Freshman Mike Kagan, who is also involved in getting the organization on its feet, said he believes Gamma Iota Sigma could benefit many different students.

“Anyone who wants to gain exposure to the actuarial science field or the insurance industry in general would greatly benefit from this chapter,” Kagan said.

Rumon agreed, saying that after the chapter gets off the ground, she hopes to recruit from the Opus College of Business and the actuarial science department.

Lauren Schaffran can be reached at scha7492@stthomas.edu.