Max Nkgare
Emmanuel Max Nkgare is eager to take things a step further. As a teenager in his home country of Botswana, he grew interested in the intricate systems that engineers create and oversee, but soon realized that engineering would not offer what he wanted from a career. His research into professions that could combine his love for math, capacity to process complex data, and interest in economic markets led him to actuarial science, which quickly became his passion.
After earning his bachelor’s in actuarial science from Pennsylvania State University, Nkgare gained experience as an actuarial analyst at an insurance company in Botswana. Working in the industry allowed Nkgare to expand his fluency in actuarial models and provided numerous opportunities to activate what he learned in his undergraduate program. Where many may find contentment, Nkgare wanted more and sought to push his skills further.
“I wanted to go deeper in an academic environment,” he said.
Though loved ones tried to dissuade him from pursuing a graduate degree, Nkgare knew earning a master’s would open doors to new challenges. The Master of Actuarial Science program at Georgia State’s Robinson College of Business stood out to him because of the academic department’s high research productivity rankings and Center for Actuarial Excellence designation.
The program gave Nkgare the space to complicate and deepen what he had learned as an on-the-ground professional. For example, in Stefanos Orfanos’ Loss Modeling and Ratemaking course, he explored case studies, examined insurance claims, and built an understanding of the decisions behind what—and how much—the responsible party pays.
“I had worked with different models in the industry, but at Robinson, I worked with models with the intention of interrogating and understanding them.” he said. “We also built new models, which was very enlightening. That’s exactly what I do in my new role as an actuarial assistant at New York Life Insurance Company.”
Nkgare stands with Noah Grudowski, a senior actuarial analyst with Blue Cross Blue Shield of Illinois, who guest spoke at an ARMA meeting.
Nkgare wanted more than course material from the program. He became president of the Actuarial and Risk Management Association (ARMA), a student organization dedicated to offering professional development opportunities to members.
“[At ARMA] dinners, I sat across the table from industry leaders who I built relationships with and still am in contact with today,” he said. “I never envisioned myself doing something like that.”
Nkgare was named Outstanding Risk Management and Insurance Graduate Student of the Year for 2024 and joined New York Life in January. In his position, he focuses on investment strategy and pushes himself to the limit through investigating consumer behavior, macroeconomics, and other market forces.
“My role draws heavily on the material I learned at Robinson,” Nkgare said. “We’re trying to not only model a specific behavior of the market but also understand how people interact with the market.”
As Nkgare grows into his job and plans his ascent into a decision-making position, he wants to give back to the industry that has helped him excel by investing in the next generation of actuaries, possibly as a college instructor.
“I want to help students from underserved communities understand what actuaries do and perhaps teach within the Master of Actuarial Science program,” he said.