What is MTFC Quest Track?

Welcome to the inaugural season of the Modeling the Future Challenge’s Quest Track! A “quest” in the simplest sense, it is a search for something and involves an adventurous journey in order to get there. What are teams searching for this spring in the MTFC Quest? Risk.

Before teams think that they are being tasked to develop a compulsion for dangerous situations.- their quest is to search for risks in order to help themselves and others develop strategies to avoid the undesirable consequences that make something a risk. Where is the adventurous journey, you ask? (After all, it is a math and insurance modeling competition, right?) In the Modeling the Future Challenge Quest, teams are given the tools through each of the different mission scenarios to “run the ops” of The Actuarial Process. Through structured scenarios and prompts, teams will build familiarity with the process and skills, respond to specific prompts for each mission, and extend the Quest to a topic of their own choice in compiling Quest Reports.

The goal for teams completing Quest track is for them to gain valuable skills and familiarity with The Actuarial Process that will enable them to participate in the 2023-24 Modeling the Future Challenge. Geared with these skills, teams will be equipped to tackle the open-ended risk modeling project in the Challenge Track under the guidance of the actuarial mentors and compete for the $55,000 in scholarships available in the MTFC Challenge Track!

Structure of Quest Track

Quest Track is designed as a six-mission asynchronous set of written materials that includes written and video “lessons”, prompts for applying the skills learned in each mission, and extension tasks for tackling open-
ended projects. The launch and suggested timeline follow the Challenge Track of the MTFC to allow teams to work on the same timetable as their Challenge Track colleagues.

January 20
Registration Closes

Learn more about how to register below.

January 23-27
Mission 1 - Risk & Why it Matters

Explore Risk Mitigation concepts as a filmmaker planning an
independent film.

Jan 30 - Feb 3
Mission 2 - Insurance Concepts

Delve into the world of premiums and deductibles in planning the
next smartphone launch.

February 6-10
Mission 3 - Data Identification & Analysis

With so much data, the mission will be to know how to find and
where to start with analyzing data using an agricultural scenario.

February 13-17
Mission 4 - Math Modeling

Math models vary greatly - learn some basic types using auto
insurance scenarios for reference.

February 20-24
Mission 5 - Risk Analysis

This mission will equip teams to assess and conduct a risk analysis
from the perspective of a mining developer.

Feb 27 - Mar 3
Mission 6 - Recommendations

The ultimate goal of a mission is to be able to make informed
recommendations - teams will accomplish this mission using a home
ownership scenario.

April 7
Final Quest Reports Due

Teams have "buffer time" to catch up
or compile Final Quest Reports.

April 25-27
National Symposium

Quest Track Best in Show Awards are announced at
the virtual MTFC National Symposium and Quest
Teams are recognized with completion certificates.

How to Register Your Team

The Modeling the Future Challenge Quest Track uses the ICS Portal to host team registration, submissions, and evaluations. If you participated in a previous Modeling the Future Challenge, you can use the same user account information from the past competition. If you do not already have an account on the ICS Portal, you will first need to create one before registering your MTFC team. Schools may register as many teams as they like, any adult (18+) may be a coach, and coaches may have as many teams as they like. Students may only be on one team.

Once you have registered your team, you can also add members to the team, and setup your team coach, view the Challenge Scenarios, and submit your Phase One files. Once your Scenario Response and Project Proposal are submitted, they will be reviewed and if approved, your team will be invited to the Project Phase of the competition!