Zhe “Gigi” Li
Zhe “Gigi” Li, a 2025 Rising Actuary Award recipient, often credits the “great people” around her for shaping her growth. A health actuary, she began her career in health care pricing and rate filing before becoming a senior manager at EY. Today, she leads actuarial and financial reporting audits and serves as an Appointed Actuary for several clients. In this Q&A, she describes, among other things, how her Academy membership and volunteer work have deepened her expertise, expanded her professional community, and allowed her to contribute meaningfully to the standards that guide the profession.
What led you to become an actuary, and what attracted you to the profession?
I was a finance major in college. My first internship was in the claims operations department at a health insurance company, where I met some actuarial interns and got my first glimpse into the profession. Quite frankly, their internship projects sounded way more interesting and challenging than mine. Later, I was fortunate to get an actuarial internship at the same company, where I met some of the best managers and colleagues. I’m so grateful for that opportunity—it introduced me to a profession that I truly enjoy.
Describe a time when your professionalism training has helped you in your career.
Professionalism is an inseparable part of my daily work. As an actuarial auditor, I must consistently maintain integrity and adherence to the actuarial standards of practice [ASOPs] and relevant GAAP and STAT regulatory requirements. Especially when my findings challenge a client’s methodology or assumptions, my professionalism training has helped me stay grounded in those moments. My training has been especially valuable when preparing and signing Statements of Actuarial Opinion. I hold myself to high standards and frequently return to the ASOPs for guidance to ensure that my procedures are compliant, well supported, professionally sound, and appropriately documented.
Tell us about a time when your actuarial expertise influenced an important decision in your workplace.
I’ll take a slightly different take on this question. One of the moments I felt my actuarial expertise truly made an impact was serving on the ASOP No. 28 (Statements of Actuarial Opinion Regarding Health Insurance Assets and Liabilities) Task Force. Drawing on my experience working with a wide range of clients, I was able to provide practical insights about handling health insurance assets and liabilities.
What made the experience especially meaningful to me was the sense that my years of work had culminated in something that benefited the broader profession—something bigger than my day-to-day work. I felt incredibly honored to have a chance to shape a standard that helps fellow actuaries. At the same time, I learned a great deal from collaborating with fellow task force members and deepened my understanding of several complex valuation issues. I’ve since been able to apply those learnings in my daily work and share them with my team.
What’s one of the biggest lessons you’ve learned in your career?
My entire career has been a continual lesson in humility. I have been fortunate to work alongside many exceptionally capable actuaries, and I am consistently reminded of how much there is to learn from them. What amazes me most is that some of the most brilliant and knowledgeable actuaries I’ve met are also the most humble—and that has taught me just as much as anything!
What advice do you wish you were given at the beginning of your career?
I’m grateful for a piece of advice I received relatively early in my career from the CFO of my previous company: “Surround yourself with great people.” It’s simple but incredibly powerful. The people you work with can shape how you grow, challenge your thinking, and support you when you’re learning or taking risks. I’ve benefited so much from the talented, collaborative, and inspiring colleagues and friends who have made all the difference in both my professional and personal growth.
What do you value most about your Academy membership and volunteer work? What does the MAAA designation mean to you?
The greatest benefit of my Academy membership has been the opportunity to volunteer and connect with fellow actuaries. I have had the pleasure of presenting webinars with fellow Academy members, being involved in developing actuarial standards of practice, and taking part in the Actuarial Standards Board’s Health Committee. These activities provided opportunities to learn from thought leaders and stay current on emerging trends and best practices. I also appreciate the many continuing education (CE) opportunities the Academy offers.
What is the value of your MAAA designation?
Being a member of the Academy allows me to participate in the broader professional and public interest aspects of the profession. I’ve also found the Academy’s CE and professionalism resources extremely helpful, including the Life and Health Qualifications Seminar, which I recently attended and highly recommend.
What advice would you share with aspiring or new actuaries, or those interested in volunteering for the Academy?
I am a strong advocate for volunteering, and it has been immensely rewarding for me both personally and professionally. If you are considering volunteering for the Academy, do not hesitate! I cannot recommend it more! All it takes is one step forward, and it’ll open up a whole flood of opportunities.
My own journey began with my first volunteer role as chair of the Society of Actuaries Health Financial Reporting Subgroup. From there, additional opportunities naturally followed, and I have since volunteered for multiple initiatives. The network you build and the perspectives you gain outside of your day-to-day work are invaluable and, in my view, an essential part of a fulfilling actuarial career.
Beyond work—what are your hobbies or personal interests?
I love spending time with my family, traveling and exploring different cultures. My six-year-old daughter is truly a treasure—full of both delightful and unexpected surprises—and she keeps me happily busy. I also like volunteering at her school whenever I can. When I do have time to myself, I enjoy listening to audiobooks. Some of my recent favorites include The Let Them Theory, Quiet, The Infinite Game, The Scaffold Effect, and The Pathless Path, to name a few.
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