When you work in the benefits business, you’re focused on big numbers. How do we get the most people the protections they need? What’s changing in the relationships between employees and employers? What’s the latest in office-versus-remote work? What health trends are emerging? We ask these questions constantly. We want to understand the macro trends shaping our industry—and the risks that come with them.
The Actuary’s Perspective
I’m an actuary by training. Analyzing data and identifying trends is, quite literally, my job. But behind all the analysis, statistics, and financial modeling are real people with real stories.
When people ask what I do, I tell them I work in insurance—then quickly add that the products I work with truly help people. Ours isn’t the kind of insurance that fights policyholders for every dollar.
I don’t usually lead with “I’m an actuary” (an actu-what?), and I don’t always mention that I work in employee benefits—though we often get there. What I do say, and mean, is that I’m proud to work in this business.
We help people when they’re down. We provide safety nets and help them get healthy after a setback. I believe deeply in what we do—and I’m happy to share that with anyone who will listen.
When Data Meets Humanity
In my work, I tend to look at big-picture trends—forces moving the economy or shaping the employee benefits industry. But sometimes, individual stories get lost in the data.
I was reminded of that recently when I posted on LinkedIn about a study linking GLP-1 drugs to reduced cancer rates. It was a hopeful story. Shortly after, I received a message from an old colleague and friend who had just buried his brother, lost far too young to pancreatic cancer.
He wrote:
“Matt; just saw your comment on cancer. While one would/Should be hopeful; not all cancers can be ‘beatable to a pulp’… So while hopeful words and thoughts are positive, they are not always effective…. Sorry if I sound too strident; but cancer sucks….big time.”
Oof.
My post had been innocuous—just sharing encouraging research. But when you’ve just lost someone you love, statistics mean nothing.
Balancing Risk and Compassion
Much of my career has been spent making sense of large data sets. It’s easy to lose sight of the human element when you’re immersed in numbers. In our industry, we often have to look at population-level data to assess risk. In fact, we’re explicitly prohibited from accessing individual health information.
Still, we can’t forget why we’re here: to help people—individuals—get through some of the hardest moments of their lives. Many in our field see that firsthand every day.
After decades in this business, I can say it’s full of good people trying to do the right thing. We’re tasked with helping our organizations make responsible financial decisions while serving human needs. Balancing those two goals—financial discipline and compassion—isn’t easy, but it’s essential.
The Purpose Behind the Numbers
By making sound financial decisions and taking disciplined risks, we preserve the stability of our industry. That stability funds the very protections employers and employees rely on. Understanding macro trends is what allows us to take those risks responsibly.
At the same time, we must never lose sight of the “why.” Behind every claim, every data point, every premium calculation—there’s a person facing one of the hardest times in their life. They deserve our empathy and our full support.
A Personal Reminder
When my friend shared his message, I wrote back:
“I am so sorry to hear this. Cancer certainly doesn’t give a #### about who you are…
No apologies needed for any of the words you are using. It has got to be hard to read anything about cancer and not think of how personal it has gotten for you and your family. Scientific discovery and advancement doesn’t mean ####.
Wishing your family peace wherever it can show up.”
Providing financial protection is, at its core, a business about people. It’s about showing up for them when they need it most.
