Meet Evelyn Lai, Actuarial Analyst

Evelyn Lai is an Actuarial Analyst for pricing at At-Bay, where she works under the risk function to deliver pricing initiatives and strategies. 

Evelyn’s role has a large scope and currently focuses on building internal pricing raters to assist in the launch of new products, pricing updates for existing products to improve profitability and competitiveness, and streamlining processes to increase overall efficiency. She joined At-Bay as an Actuarial Analyst in June 2021 after interning in the summer of 2020.

Described by her manager as “the ultimate team player,” Evelyn is never afraid to share her ideas to improve processes and add value to the business. She’s recognized as a go-to person for actuarial pricing questions across the business.

We spoke with Evelyn to learn more about her background and what it’s like working at At-Bay.

1. What’s one skill that you have developed over your career that helps you shine at At-Bay?

My willingness to learn and explore new ideas has helped me shine in my role. Although it may seem very simple, this attitude has contributed to my success because At-Bay gives me the opportunity to innovate processes and apply my learning in creative ways. 

Cyber is a new and evolving line of specialty insurance, so you can’t just apply typical assumptions when assessing risk. More traditional lines of insurance, like health and life, have decades’ worth of data informing decisions, but cyber is more exploratory. You have to be open-minded, curious, and willing to start from scratch.

2. How did you find your way into the insurance industry?

I graduated with a BS in Actuarial Sciences from the University of Illinois Urbana-Champaign, which prepared me to work in a variety of industries, including consulting, finance, and insurance.

From the beginning of my studies, I had a fascination with insurance because it’s familiar. Almost every person has some form of insurance, whether it’s health, life, auto, home, or a more specialized line. But even though it’s so common, it’s still a curiosity. I always wondered, ‘How do you price insurance? How do companies know how much to charge for different coverages?’

I decided that I wanted to become the person who makes insurance pricing decisions. When I began to focus on insurance, I found myself drawn to specialty lines like travel and cyber. I spent time in college doing undergraduate research in cyber risk, which provided me with a deep understanding of this non-traditional line of business and eased my transition into the cyber security insurance industry. That’s how I ended up at At-Bay!

3. What has surprised you the most since joining At-Bay?

When I first joined as an intern, the company was small — only around 30 or 40 employees total — and I was drawn to the horizontal collaboration and high energy levels of the team.

When I took a full-time position one year later, At-Bay had already grown a lot, and it’s grown even more since then. What has surprised me the most is how the company has been able to maintain its approachable personality and collaborative environment while adding so many new people. The team’s structure continues to feel open and welcoming, and everyone — from entry-level employees to department heads — is always willing to share their time and knowledge.

4. What’s your favorite part of your workday?

One of the actuarial team’s goals is to automate as many actuarial processes as possible. This isn’t part of a traditional actuarial role, but it’s fulfilling because it presents a new challenge every day.

At At-Bay, I get to work on complex, impactful projects every day. My work makes a meaningful contribution to the success of the company, and I thrive in this dynamic, always-exciting environment.

5. Who is your pop-culture avatar?

My pop-culture avatar is Moana. I relate to her because she’s very adventurous and she isn’t afraid to take on a challenge. 

For me, deciding to work in a startup environment was the adventurous path when I could have instead taken a more traditional path in actuarial science. Every day at At-Bay I take on fresh challenges and learn new things, and my decision to take the professional path less traveled reflects who I am.

At-Bay is hiring! Check out our careers page to learn more and explore current job openings.

About At-Bay

At-Bay is the InsurSec provider for the digital age. By combining world-class technology with industry-leading insurance and security expertise, At-Bay was designed from the ground up to empower businesses of every size to meet cyber risk head on. Our InsurSec approach provides end-to-end protection for modern businesses. It’s a force multiplier that includes security, threat intelligence, and human experts to close the SMB cybersecurity gap — all as part of their insurance policy.