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MILLIMAN SOCIAL IMPACT

We're in this together.

Building a better future

Health and financial well-being have no borders. That’s why we’re committed through our work and partnerships to addressing issues that have a global impact.

Our employees are driving innovation in climate resiliency, breaking barriers for underrepresented people in our industry, and partnering with the United Nations Global Compact. As we strive to protect the health and financial well-being of people everywhere, we remain committed to our mission.

OUR COMMITMENT

Three Pillars: Our commitment for creating social impact

A spirit of social responsibility has permeated Milliman’s DNA since its founding in 1947. Three pillars represent our commitment:

Our Work

In our client work, we live our mission at its core through projects to design crop insurance that protects Ethiopian farmers from loss of income, closing the inequality gap for women in retirement planning, and developing better coverage for flood insurance.

Our People

We nurture and celebrate our employees through activities, education, mentoring programs, and Employee Resource Groups that promote diversity and inclusion. These efforts help employees grow in their careers and build their connections within our organization. We’re also committed to increasing underrepresented people in our industry through scholarship programs and sponsorships of the International Association of Black Actuaries and the Organization of Latino Actuaries.

Our World

We contribute to our communities through volunteer activities with the Milliman Giving Fund, provide funding for global relief efforts such as our Global Coronavirus Support 2020, and address climate change through the Milliman Climate Resilience Initiative.

POLICY

Social impact & sustainability statement and policies

Discover how we set a standard for ethical and sustainable business practices, innovation that transforms communities, philanthropic pursuits, and diversity and inclusion.

Report

Milliman 2021 Social Impact Report

Learn how we continue to create global change by addressing racial disparities, solving climate challenges, and developing microinsurance products.

Report

Milliman’s statement on diversity, equity, and inclusion

Understand our approach to DE&I initiatives within the firm.

Scholarships

Increasing diversity through education

Actuary of Tomorrow — Stuart A. Robertson Memorial Scholarship

Stuart A. Robertson, FSA, MAAA (1918-2005) co-founded Milliman & Robertson (now Milliman, Inc.) along with Wendell Milliman. The Actuary of Tomorrow — Stuart A. Robertson Memorial Scholarship was established to honor his dedication to excellence and recognize his tremendously positive influence on the professional lives of many colleagues. The scholarship of up to $10,000 recognizes and encourages the academic achievements of undergraduate students pursuing a career in actuarial science.

Application period: November – June

International Association of Black Actuaries Scholarship

Milliman is a sponsor of the IABA at the Corporate Advisory Council (CAC) level since 2019. This includes a seat on the CAC, participation in the IABA’s annual meeting and career fair, and an annual $5k Milliman-named scholarship and internship to a qualified Black student at the undergraduate and graduate level who is interested in pursuing an actuarial career.

Application period: January

Milliman Opportunity Scholarship

We assist students from ethnic groups and races that are underrepresented in the fields of actuarial science, data science, computer science, economics, programming, mathematics, statistics, data analytics, or finance. Recipients must have demonstrated academic excellence and plan to pursue a career in actuarial science or related fields. Since 2017, we have awarded $5,000 scholarships to more than 100 students attending colleges and universities across the United States, Australia, and South Africa.

Annual application period: March – April

Organization of Latino Actuaries

Milliman is a platinum sponsor of the Organization of Latino Actuaries (OLA) since 2019. This includes participation in the OLA annual meeting and recruiting event, and $5K to the OLA general scholarship fund which awards academic scholarships to Latine students interested in the actuarial profession.

Application period: December – April

Wendell Milliman Scholarship

The Wendell Milliman scholarship is open to dependent children of non-shareholder employees of Milliman. Selected applicants will receive a scholarship of up to $7,500. Students must be attending an accredited two- or four-year public or private college or university full-time at the undergraduate level. Applicants must be majoring or intend to major in mathematics, computer science, business, finance, economics, actuarial science, or health sciences.

Application period: February – March

PARTNERSHIPS/GIVING FUND

Creating transformation

United Nations Global Compact

In 2019, Milliman amplified its commitment to social responsibility. We signed on to the United Nations Global Compact, committing to the United Nations Sustainable Development Goals (UNSDGs) that aim to end poverty, protect the planet, and ensure prosperity for all. The UNSDGs are a natural extension of Milliman’s mission to protect the health and financial well-being of people everywhere.

Milliman Giving Fund

Our giving is largely directed by our employees, who bring the same passion, strategic thinking, and entrepreneurial spirit to our philanthropy as they do to our clients. Through volunteering and financial gifts, employees and alumni support global signature projects that contribute to healthcare, education, and economic development. The Milliman Giving Fund was established in 2018 to support firmwide charitable efforts that bring transformational results.

Opportunity International – Opportunity Zone

Milliman is partnering with Opportunity International (OI) to fuel the economic transformation of thousands of parents and children living in poverty. In 2019, Milliman awarded a grant of $250,000, renewable for up to three years to fund an Opportunity Zone program in Mityana, Uganda.

The program combines two high-impact education and rural finance programs to create a zone where more jobs, higher incomes for parents, and quality education for children accelerate the pace in which families and communities can build a better future.

OI will offer substantial new loan funding for small businesses and schools from its partner bank, the Opportunity Bank of Uganda. The project also includes volunteer opportunities for Milliman employees with specific marketing, financial, IT, and risk management skills.

Since 1971, OI has provided business loans and training to more than 15 million families to help them escape extreme poverty. OI’s mission and work aligns with both Milliman’s mission and themes, specifically in community and economic development.

The Actuarial Foundation – Math Motivators

Milliman partners with The Actuarial Foundation to support Math Motivators—a free tutoring program that closes the math achievement gap. The program pairs lower-income middle school and high school students with actuaries and college students majoring in actuarial science, mathematics, or math education.

In 2018, the Milliman Giving Fund made a $750,000 grant to fund Math Motivators’ expansion across the United States over a three-year period. This project meets our goal of assisting underserved populations in STEM studies.

In addition to financial contributions, Milliman employees volunteer in Seattle, Chicago, Hartford, New York City, Milwaukee, Minneapolis/St. Paul, and Portland, Maine. The program operated in 22 schools in nine cities in the 2018-19 school year, and it’s on track to expand to additional cities in 2020.

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