Derek Thada graduated in spring 2020 as a statistics and applied mathematics double major. He arrived at Iowa State University knowing he wanted to study mathematics. He added statistics during his first semester due to the strong overlap in the courses and growing interest in data-focused coursework. Thada now works as an actuary and became a Fellow of the Casualty Actuarial Society (FCAS) in fall 2025.
Thada initially wasn’t certain whether he would pursue a career in industry or academia in his future endeavors, but credits Iowa State with providing a “wide range of experiences that allowed me to explore those different avenues and decide which one worked best for me.”
These experiences started with Thada's first statistics course (STAT 3010) with Professor Ulrike Genschel. He highlighted the following courses and professors as instrumental in building his confidence to pursue and complete all 10 actuarial exams, which he achieved in summer 2025:
- STAT 3410 (Introduction to the Theory of Probability and Statistics I) with Associate Teaching Professor Kevin Kasper (Thada also thought this course was fun.)
- STAT 3420 (Introduction to the Theory of Probability and Statistics II) with Professor Vivekananda Roy
- STAT 4820 (Regression for Social and Behavioral Research) with Teaching Professor Laura Ziegler
- STAT 4215 (Time Series Data Analysis) with Distinguished Professor William Meeker (now Distinguished Professor Emeritus)
- STAT 4279 (Statistical Computing for Data Analysis) with Professor Ulrike Genschel and STAT 4840 (Computer Processing of Scientific Data) with Professor Haley Jeppson (former graduate student)
Beyond preparation for actuarial exams, Thada also appreciated STAT 2020 (Career Development in Math and Statistics). This course helped him learn about different companies and careers specific to statistics and mathematics. Finally, courses on regression analysis and variable selection provided crucial knowledge that Thada leveraged for his actuarial exams.
When reflecting on coursework, Thada’s biggest piece of advice for students is to attend office hours, as it helps you to build relationships with faculty. These relationships help you to get answers to questions and can lead to letters of recommendation and scholarships.
During his time as a Cyclone, Thada received the Herta and Hebert T. David Scholarship in Statistics, the Dean’s High Impact Award for Undergraduate Research, and the Wallace E. Barron All-University Senior Award.
Outside the classroom, Thada also found community as a member of Iowa State’s student radio station. He co-hosted a weekly sports talk show with friends and provided play-by-play broadcasting for Iowa State men’s basketball and football. He continued this interest after college and now provides radio broadcasting for his local high school’s sports teams.
Thada also gained experience in statistics research, working with Professor Olga Chyzh, who had a dual appointment with statistics and political science. As an undergraduate researcher, he was able to present his research at two Iowa State symposiums and one national conference; these experiences were highly beneficial during job interviews. He credits this work with teaching him how to translate complex statistical concepts into clear, approachable explanations for a broad audience, a skill that continues to serve him in his career.
In addition to research experience, Thada completed two summer internships at Kingland and Federated Insurance. Following his internship with Federated, he accepted a full-time job offer, which he began after graduation.
By June, Thada will have worked as an actuary at Federated for six years. He started his career as a reserving actuary before transitioning to a pricing role, where he has remained. He has priced a wide range of lines, but the majority of his experience is in commercial auto insurance. In his position, Thada leads state rate filings, refines pricing models, analyzes company data to identify emerging trends, and generatres forward-looking forecasts to support strategic decision-making.
Thada also became a supervisor in summer 2025. In this role, he trains and mentors employees. He appreciates the teaching nature of this position and takes pride in developing future actuaries.
Thada summarizes about his experience as a statistics and applied mathematics major, “I think it’s a good community for peers and friendships and a good department for being exposed to what it takes to make that next step in starting a career after college.”