WINNER ANNOUNCEMENT: MIWAY’S 2023 ACTUARIAL HACKATHON PROVES THE EFFICACY OF CREATIVE RECRUITMENT DRIVES

In a rapidly evolving business landscape, creativity and innovation have emerged as key drivers for corporate success. To meet the demands of a competitive marketplace, many forward-thinking companies have shifted their recruitment strategies, placing a greater emphasis on attracting and cultivating diverse skill sets, and unconventional thinking. MiWay’s third Actuarial Hackathon, aimed at identifying prospects who can turn complex situations into extraordinary solutions, has brought a fresh perspective to the realm of graduate recruitment.

The MiWay Actuarial Hackathon – an invitation-only, one-week modelling marathon took place last week and saw participants apply their minds to developing the best pricing strategy based on a provided dataset. This year’s constituent comprised 3rd year and Honours students, across the fields of actuarial science, data science and related fields.

Taariq Mowzer, BSc in Pure Mathematics (Honours) student from the University of Cape Town clinched first place, winning a cash prize of R20 000. Taariq Mowzer, alongside second and third-prize winners, Luke Mackeand and Jan du Plessis received their awards during a celebratory prize-giving session at the culmination of the event.

Congratulating Taariq Mowzer on his win was Christiaan Marais, Head of Actuarial at MiWay, who sees the Hackathon as an ideal platform for identifying individuals with a knack for problem-solving, unorthodox thinking, and the ability to generate innovative ideas that can drive growth.

“Similar to previous years, the 2023 Actuarial Hackathon provided participants with the opportunity to apply the theoretical knowledge from their studies to a real-life practical application and get a glimpse into the life of a short-term insurance pricing actuary.

As part of the experience, participants had the opportunity to interface with experienced actuaries and gain a practical demonstration of MiWay’s hybrid working model. For these participants, the Hackathon provided a window into the working world and allowed them to sense-check their thinking with team members who had the opportunity to share their insights and transfer knowledge.”

The Hackathon took the form of a conventional work week, starting on Monday 03 July, with participants being able to work on the solution from 08h00 to 17h00 every day, with daily check-ins with MiWay’s current team of actuaries who checked their progress and answered questions.

Participants had the option to work onsite at MiWay’s office in Kosmosdal or virtually, which was facilitated by MS Teams meetings.

“The Hackathon was a formidable challenge. Having to design an end-to-end premium pricing model is no small task, let alone developing one in a single week. However, it was incredibly rewarding to see the skills that I learned throughout my higher education equipped me to tackle the Hackathon.

A great boon in this competition was being able to interact with the MiWay actuarial team. Speaking to actuaries in the industry was an invaluable experience. I wish to thank MiWay for this amazing opportunity, which has been the first step in what I believe will be a lucrative career,” said Taariq Mowzer.

Creative recruitment drives such as MiWay’s Actuarial Hackathon have emerged as a powerful tool for attracting and cultivating innovative talent, diversifying perspectives, and fostering a culture of creativity within organisations. As this trend continues to gain momentum, it will reshape the corporate landscape, enabling companies to unlock new levels of innovation and drive sustainable growth in an increasingly competitive world.