1. What led you to pursue a career in actuarial mathematics?

 

I got interested in actuarial mathematics because it combines mathematics with solving real-world problems that could have a big impact. I have always enjoyed working with uncertainty, and actuarial work does exactly that - it uses math and data to help people make better (informed) decisions about their future.

What really appeals to me is how broad the field is.Actuarial methods can be applied to both life and non-life insurance, as well as to many other areas of our lives, even to global issues such as pandemics and climate change. It's about using analytical skills to understand, and more importantly, to measure complex risks and to create solutions that make systems and societies more resilient. 

2. What is the topic of your research and which mathematical questions are you currently interested in?

 

Alongside quite theoretical optimization problems, which can sometimes be interpreted as non-life insurance problems but have limited practical applicability, I am particularly interested in a highly applied and socially important topic: pensions. In this area, it is important to distinguish between public, occupational, and private pensions, as each has different structures, regulations, and societal implications.

One of the problems is to develop a private pension product, including risky investments and allowing to share the financial risk between the insurer and the pensioner so that both parties benefit from it. It is a game, where two players are optimizing their targets by making moves, very much like chess. The question is whether such a product, offering an opportunity to gain money through investments, could also mitigate the usual risks connected to an equity-linked pension plan - the financial and the longevity risk. 

I am also interested in research problems related to public pensions. Could a transition from a pure pay-as-you-go scheme (the working population finances current pensioners) to a system in which part of the contributions is invested make the pension system more sustainable? After all, the old-age-dependency ratio (the formula is 100 x (Population aged 65+) / (Population aged 15-64)) in Austria is predicted to become 67.4% in 2100. This means that the working population will no longer be able to adequately support pensioners, creating financial and social challenges.

3. From your CV, I can see that you moved around quite a bit. After your PhD in Cologne, you moved to Vienna and afterwards you went to Liverpool. Then, in 2023, you returned to Vienna. 
What was the biggest challenge you faced when moving around between cities?

 

The hardest part of moving between cities wasn't the packing - it was the in-between space. You are not really from the old place any more, but you don't belong in the new one yet, feeling a bit homeless. It changed slowly and required some work :-)

An even bigger challenge was moving with a small child. Everything was manageable, though sometimes unpredictable. As always in insurance mathematics, the uncertainty eventually gave way to new opportunities.

4. Maintaining a work-life balance is important. How did you manage to keep everything working and how important was the support you received?

 

To be honest, I don't always manage a perfect work-life balance, but I am trying to improve. That said, I have realized the importance of support, not only from colleagues, but also at an institutional level. At the University of Liverpool, the mother of one of my colleagues was taking care of my baby daughter while my husband and I had to teach simultaneously - an emotional support that I still remember to this day.

I am deeply grateful to TU Wien for the exceptional support and encouragement I received during a life-changing decision-making process. 

5. Despite the numerous efforts, the female representation in STEM remains poor. What are the reasons for this and what solutions can be implemented?

 

Addressing this issue requires comprehensive, long-term strategies. Efforts made at later stages of a career are often less effective. Schools should therefore encourage girls' participation in STEM activities from an early age. Encouraging curiosity, providing hands-on experiences, and showcasing female role models can help counteract unconscious biases and build lasting interest in technical fields.


6. What changes would you like to see in the academics and mathematics in the coming years?


I would like to see academics and mathematics evolve to become more inclusive, reduce stereotypical thinking, and avoid pigeonholing different areas of research. Often, certain fields or topics are labelled as "pure" or "applied", which limits interdisciplinary exploration. Collaborations enhance the practical impact of research, ensuring that mathematical knowledge is applied in ways that meaningfully benefit society: Technik für Menschen.


7. Do you have any advice for young people who are eager to learn more about the applications of mathematics and want to pursue an academic career?


Would you buy an insurance contract from someone who struggles with a simple mathematical proof? In fields like actuarial science, understanding mathematics is not optional - it is essential. Therefore, it makes sense to develop problem-solving skills, logical reasoning, and the ability to think critically before diving into the world of practical applications.

And against common belief, mathematics is not about working alone in an isolated basement. Being able to work well with others and clearly explain your ideas can be incredibly helpful.

 

-------------------------

Further links to Julia Eisenberg:

Her own website:
https://fam.tuwien.ac.at/~jeisenbe/

Her publications:
https://www.scopus.com/authid/detail.uri?authorId=26534291000

Her profile at TU Wien:
https://www.tuwien.at/en/tu-wien/organisation/central-divisions/professorships-at-tu-wien/new-professors-since-2019/new-professors-by-alphabetical-order/e/univ-prof-drrernat-julia-eisenberg