Modeling the Future Challenge
The Modeling the Future Challenge offers high school students a thrilling opportunity to engage in real-world competition that integrates math modeling, data analysis, and risk management.
Interested in the competition?
Competition Overview
13-19 years old (Junior and Senior)
Eligibility
Free
Entry fee
November 19, 2023
Submission deadline
March 20, 2024
Finalist annoucement
Competition Details
1. Introduction
The Modeling the Future Challenge offers high school students a thrilling opportunity to engage in real-world competition that integrates math modeling, data analysis, and risk management. Participants undertake research projects utilizing real-world data to analyze risks and provide recommendations to companies, industry groups, governments, or organizations.
2. Eligibility
To be eligible to join the competition, students must be current juniors or seniors in high school in the United States or its territories (no younger than 13 years old and no older than 19 years old by August 1st, 2023). Some special exceptions will be made for sophomore-level students taking advanced junior or senior-level mathematics classes. Only students who currently reside and go to school in the United States or one of its territories are eligible to win awards from the Modeling the Future Challenge.
3. Rules
Teams can include one to five students. Each team must have an adult “coach” noted on the submission.
4. Results
Finalists will be announced on March 20, 2024
5. Prizes
Students will split parts of the $60,000 worth of scholarship prizes
Timeline
- Registration Opens & Launch Webinar: August 28, 2023
- Scenario Phase Workshop: September 14, 2023
- Registration Closes: November 19, 2023
- Scenario Phase Submissions Due: December 3, 2023
- Semifinalist Announcement: December 14, 2023
- Project Phase Workshop: December 18, 2023
- Project Intro Videos Due: January 31, 2024
- Project Visual Highlight Due: February 29, 2024
- Project Reports Due: March 3, 2024
- Finalist Announcement: March 20, 2024
- Final Videos & Papers Due: April 7, 2023
- National Symposium: April 29 – May 3, 2024
Phases
1. Phase One
Student teams are given a scenario description, data-set, and series of up to 30 questions to evaluate the team’s expertise in five areas: Statistics and Probability Fundamentals, Projecting Trends, Modeling Data, Analyzing Risks, and Making critical thinking recommendations
Teams must complete two requirements to pass the Scenario Phase: (1) score well enough on the scenario questions, and (2) submit a Project Proposal identifying a topic and problem statement for your project.
Teams passing the Scenario Phase will be recognized as Modeling the Future Challenge Semi-Finalists and move on to the Project Phase of the Challenge where you will conduct your own actuarial research project. As part of the Semi-Finalist award package, teams will be matched with an actuary mentor who will guide you through the critical steps of the “Actuarial Process” used to complete your project report.
2. Phase Two: Projects
Once your team has qualified, you will be entered into the main Project Phase of the Challenge. Each qualified team is matched with an actuarial mentor to provide high-level guidance on their project. Mentors meet virtually with teams twice during the project period.
To complete your project, you will work through four high-level steps: Problem Identification, Data Identification, Mathematical Modeling, Risk Analysis, and Recommendations
3. Phase Three: Presentation
Teams selected as finalists will have additional time to update their project report and to prepare a live presentation for the Modeling the Future Challenge Symposium. At the Symposium you will meet other like-minded students, mix with professional actuaries, explore the exciting host city, and compete for the final MTFC scholarship awards!
