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Center of Actuarial Excellence Actuarial Science at Illinois State University
Our faculty are engaged in cutting edge research, funded by various external agencies, and published in books and top-level journals.

Actuarial Faculty

Dr. Krzysztof Ostaszewski, FSA, CERA, FSAS, CFA, MAAA
Actuarial Program Director

Our program director, Dr. Krzysztof Ostaszewski, received his Ph.D. in Mathematics from the University of Washington. He is a Fellow of the Society of Actuaries, Chartered Enterprise Risk Analyst, Fellow of the Singapore Actuarial Society, Member of the American Academy of Actuaries, and a Chartered Financial Analyst. In the period 2011-2013,, hewas also the Research Director for Life Insurance and Pensions at the Geneva Association. He has taught actuarial science, mathematics, and investments at New England Actuarial Seminars, Olin School of Business at the Washington University in St. Louis, University of Ulm in Germany, EM Lyon Business School in France, University of Louisville, University of California at Davis, University of Warsaw in Poland, Technical University of Lodz in Poland, and Chulalongkorn University in Thailand. He was a research visitor to many universities worldwide, e.g., University of Ulm in Germany, University of Sao Paulo in Brazil, Universite Catholique de Louvaine-la-Neuve in Belgium, Fudan University and Shanghai Second Polytechnic University in China. He has published research papers in actuarial science, mathematics, economics and finance in leading journals, such as American Economic Review, Journal of Risk and Insurance, Insurance: Mathematics and Economics, Journal of Business, North American Actuarial Journal, Geneva Papers on Risk and Insurance, and Proceedings of the American Mathematical Society, as well as research monographs with Elsevier, Society of Actuaries, and American Mathematical Society. He was the 1995 Fulbright Research Fellow in actuarial science and a Fulbright Specialist in 2003-2004, and is also a Fulbright Specialist currently. He worked as an actuary at The Hartford and Providian Capital Management (now part of Aegon USA). Dr. Ostaszewski received numerous awards for his research, including the 2005 Mehr Award of the American Risk and Insurance Association, the 2004 Hardigree Award of the Western Risk and Insurance Association, and the 1999 Best Research Paper award from the Kentucky Economic Association.

Dr. Ranee Thiagarajah, ASA, MAAA

Dr. Ranee Thiagarajah holds a Ph.D. in Statistics from the University of Windsor and is an Associate of the Society of Actuaries. She has previously taught actuarial science and statistics at the University of Windsor, University of Waterloo, Concordia University, and the University of Iowa. She also holds a Master degree in actuarial science from the University of Iowa. She worked as an actuary at Swiss Re and Lincoln National insurance companies. She has published numerous research papers in actuarial science and statistics.

Dr. Nan Zhu, FSA

Dr. Nan Zhu holds a Ph.D. in Actuarial Science from the Georgia State University and is an Associate of the Society of Actuaries. He has previously taught at Georgia State University. His doctorial studies were supported by a prestigious grant from the Geneva Association. He has published research papers in actuarial science.




Dr. Ostaszewski, Dr. Thiagarajah, and Dr. Zhu work directly in the Actuarial Program in the Department of Mathematics. Other actuaries involved in our program are: