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The CAS Actuary of the Future Speaker Series features CAS members who represent that future - actuaries who have solved big problems faced by their employers or principals by thinking boldly and creatively applying their actuarial skills, while collaborating with other stakeholders. Ultimately, these actuaries brought value to their organizations in ways that haven’t been done before.
This award is made to the author of the best paper submitted in response to a call for ratemaking discussion papers whenever the program is conducted by the Ratemaking Committee of the Casualty Actuarial Society.
I am pleased to announce that the following Fellows were elected or re-elected by the CAS Board of Directors to serve as 2023-2024 Vice Presidents and members of the CAS Executive Council (EC).
Newly elected Vice Presidents
Keith Berman, Vice President-International
Morgan Bugbee, Vice President-Research & Development
Rich Moncher, Vice President-Administration
Erin Olson, Vice President-Marketing & Communications
Re-elected incumbent Vice Presidents
The CAS Strategic Plan’s Envisioned Future foresees that:
CAS members are sought after globally for their insights and ability to apply analytics to solve insurance and risk management problems.
Learn How Unintended Biases Impact Data Modeling
In this specialized, on demand course created by iCAS, in partnership with The Institutes, discover methods for recognizing how data modeling can contribute to unintended consequences to better mitigate risks associated with decision making.
The Casualty Actuarial Society (CAS) and Society of Actuaries (SOA) recently hosted a Be an Actuary Day event in conjunction with Temple University in Philadelphia. Be An Actuary Day is a program developed to expose diverse high school students to the actuarial profession as a career choice by giving them the opportunity to meet actuarial science students and practicing actuaries.
This past program was the first ever Be an Actuary event to be held on the East Coast. It was also the second event to be held in person since having to move to a virtual program due to the pandemic.
The CAS is issuing a Request for Proposals (RFP) for a research paper which studies and discusses the actuarial considerations associated with IFRS-17 implementation for general insurers in Asia.
The CAS Nominating Committee wants your input on the slate of candidates for the 2023 CAS elections for the Board of Directors and President-Elect. Any member may submit a nomination, and if you are a Fellow of the CAS, you are welcome to nominate yourself. Fellows may also submit a petition to be placed on the ballot; see additional details on petitioning below.
As an incentive for encouraging nominations, the CAS will award up to ten $100 Amazon gift cards to individuals whose nominees are selected by the Nominating Committee to be included on the 2023 ballot.
The Exam 7 working group is looking for volunteers to round out their writing roster. A Writer is someone who has passed the exam and is expected to have a strong understanding of covered topics for the exam. The Writer may be a top performer from a recent exam sitting. Additionally, a Writer is a Fellow of the Casualty Actuarial Society.
We are looking for subject matter experts who are familiar with CAS Exam 7, specifically with the following domain/subdomains:
Exam 7 Domain
Estimation of Claims Liabilities
Subdomains:
The General Officer of the CAS Syllabus and Examination Committee has released a memorandum outlining approved changes for the October/November 2023 CAS source materials. This memorandum was updated on April 6, 2023.
With the growing threat of cyber incidents, organizations and governments are rightfully concerned. In recent years, cyber incidents have caused significant losses to entities and insurers across the world. Therefore, there is a need to understand and provide greater context around the topic of catastrophic cyber risk, which has implications for insurance companies, reinsurers, regulators, consumers, and society. Taking a multi-disciplinary, holistic approach, an expert panel study was conducted on catastrophic cyber risk in this four-part series of discussions and subsequent reports.
The 2023 Hachemeister Prize has been awarded to the paper “Ensemble distributional forecasting for insurance loss reserving.” The Hachemeister Prize is awarded annually to ASTIN Bulletin, ASTIN Colloquium or AFIR Colloquium paper(s) based on several criteria but with emphasis placed on the paper's impact in the
The CAS Nominating Committee is pleased to announce the President-Elect and Board candidates for the 2023 CAS elections. Voting members (Associates who have been members at least five years and Fellows) will cast ballots in August to elect four directors from among the eight candidates.
President-Elect: David Cummings
Candidates for Board of Directors:
Registration for October/November exams will open on July 11, 2023. Candidates will be notified directly when registration opens.
Actuarial candidates know that the exams cover real-world concepts that are necessary to be actuaries. But there are more ingredients that go into career success than passing exams. Let’s explore a couple of the necessary skills that can round out a candidate’s profile for employers.
While many people know they want to be an actuary in college and move straight to the insurance industry after graduation, a good segment of the actuarial population is career changers – people who worked in a different field, often for many years, before taking on an actuarial role. The reasons for making this switch are varied, but career changers generally bring valuable perspectives and experience to their actuarial roles. To give further insight on what it’s like to become an actuary after working in a different field, below are three current actuaries’ stories.
Arlington, VA -- Research reports designed to guide the insurance industry toward proactive, quantitative solutions to identify, measure and address potential racial bias in insurance pricing were published by the Casualty Actuarial Society (CAS) today.
Volunteers are core to the success of the CAS, and there are many ways in which you can be involved. While this article covers what volunteer opportunities are available for candidates, ACAS and FCAS members, future articles will look more closely at some of the specific volunteer opportunities.
For our second installment of our Practical Professionalism series, we’re going to look at the following hypothetical scenario:
An actuary is told by upper management to complete an auto rate filing with very little turn-around. Since the actuary is already extremely busy with other work, they decide to utilize ChatGPT. ChatGPT creates the filing memo for the actuary along with several other exhibits. The actuary submits the filing without checking ChatGPT’s work.
In the last issue of Future Fellows, the CAWG kicked off a new series with the goal of taking your questions and answering them in each issue. We invite you to send us your questions by emailing CAWG@casact.org. All questions will be posted anonymously and answered by members of the CAWG.
Q: Has Future Fellows ever published an article on exam grading? Where can I find old articles?
Ever wish the CAS were more … local? Unless you’re living around the D.C. metropolitan area, odds are it’s a long trip to CAS headquarters in Arlington, Virginia. To help with localization, the CAS recognizes 17 Regional Affiliate organizations, each with a unique approach to serving the P&C actuarial professional in their geographic area. Although one common focus of these groups is helping credentialed members to meet their annual continuing education requirements, they’re more than a one trick pony!
