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This article will be released around the time most of you are neck-deep in studying, which means you are probably asking yourself questions such as, “Should I take the time to read Dan’s article, or should I work on my flashcards?” or “Why am I doing this to myself? Is it all worth it?”
First of all, thank you for taking five minutes to read what we have to share here — I’m hoping it helps. Let me start by stating that your study efforts are ABSOLUTELY worth it, my friends.
There are many benefits to receiving your credentials. We will focus on the following:
Journey to the Top
November 5-8, 2023
Los Angeles, CA
The Westin Bonaventure Hotel & Suites
Deadline: March 31, 2023
Submit Your Idea
The Annual Meeting Working Group (AMWG) issues the Call for Presentations for the 2023 Annual Meeting. Speakers are expected to travel in-person to the meeting to present.
Deadline: December 29, 2023
Submit
The Casualty Actuarial Society invites you to be a part of the CAS Webinar planning process. The Webinar Working Group is soliciting your submission of proposals for upcoming CAS Webinars through fiscal year 2024 (September 2023 – October 2024).
Registration is now open for all qualified candidates.
To be eligible for the Course on Professionalism you mut meet one of the following sets of criteria:
Registration is now open for all qualified candidates.
To be eligible for the Course on Professionalism you mut meet one of the following sets of criteria:
Hosted by the International Actuarial Association and the Actuaries Institute Australia, the 2023 International Congress of Actuaries is the largest hybrid global event for actuaries and industry leaders. Join the brightest actuarial minds across five days, in-person or online, to learn, network and help solve the biggest issues – at a time the world needs actuaries more than ever.
U.S. commercial auto insurance liability claim payouts increased $30 billion more than would otherwise have been expected between 2012 and 2021 due in part to social inflation, according to an updated paper published today by the Insurance Information Institute (Triple-I), in partnership with the Casualty Actuarial Society (CAS).
The CAS Capability Model, which is a visual framework that articulates and provides guidance on the traits, skills and knowledge important for most property/casualty actuaries, is now available through the CAS website.
CAS members and other stakeholders can use the model to self-assess the levels of their professional attributes in 18 different areas, which will assist them in identifying areas of opportunity to learn and grow and planning their professional development journeys.
As previously announced, the work of the CAS Admissions Transformation Plan (ATP) began with the Job Task Analysis (JTA) conducted in 2020, which resulted in recommendations for the high-level domains1 and tasks2 covered on each exam in the ACAS and FCAS exam pathway. This foundational analysis helps to inform the enhancements to all CAS exams, and we are now pleased to announce changes to Exams 7, 8 and 9.
The Casualty Actuaries of Europe (CAE) is excited to announce that our next scheduled live event will take place in Zürich on Friday the 29th of September 2023, again hosted by SCOR.
We expect the sessions to start at around 9am (with doors opening at 8am) and run through to 5pm, with plenty of networking breaks. We will also again be streaming the event for those who are unable to attend in person. As usual, there will be a visit to a local pub near the venue after the event.
Details will be forthcoming.
Along with R, Python has emerged as an appealing option for actuarial work. Python is a free and open source language with a large, global community of users. Python supports general-purpose programming including automation of file system operations, data I/O, and plotting. A number of packages are available to carry out classical statistical analysis, as well as more recent statistical learning methods. There are also packages which perform specific actuarial methods like loss reserving.
How is machine learning used for loyalty programs and what can it teach us about insurance claim reserving? While triangular methods have been a foundational tool for decades, individual claim reserving gives the actuary far more information about changes and trends in the liability. Yet the commonly used individual claim reserving techniques leave some of the most valuable data unexamined.
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Academic Community Meeting and Seminar Fee Waiver Program for Academics
The CAS values the contributions of academics to the advancement of actuarial science and encourages academics to participate with practitioners at CAS meetings and seminars. Members of Academic Central may attend up to three CAS national meetings or seminars per year with registration fees waived. (This does not include Regional Affiliate Meetings.)
University Liaison Program Volunteers Needed
In support of the CAS Strategic Plan, the CAS has an objective to increase its presence on college campuses, and the University Liaison Program, with the help of CAS volunteers, can help meet that objective. You know that the CAS is a great organization. Let's make sure that students know that, too.
The Casualty Actuarial Society (CAS) has released new research papers tackling two key areas of climate risk: flood and wildfire.
Arlington, Va.
Actuarial science has been built on the idea of open-science with a rich repository of papers, monographs and studies made freely available by the CAS. Recently the CAS launched a Github organization, enabling the open-science philosophy to be extended to open-source tooling. This session will explore the benefits of open-source tools, how and why we should get involved. We will also dive deeper into the chainladder-python library to give a practical example of how these tools and the community that surround them can benefit you and your organization.
Actuarial work is complicated and difficult to understand and so it is hard for non-actuaries to understand our work. The problem is often exacerbated by actuaries having spent 10,000 or more hours studying technical matters but probably less than 1,000 hours developing communication skills. As actuaries advance in their careers, effective communication becomes more important than analytical work (which can be delegated to capable staff). Also, as actuaries we likely have even less experience in dealing with confrontation which can be critical when communicating bad news.
The 11th “PKU-CAS Actuarial Month” was Held in Peking University
“PKU-CAS Actuarial Month” was co-organized in November 2022, by CAS ARWG and Peking University (PKU) in China. The month-long event aimed to promote the P&C actuarial profession to the university and to help students understand more about P&C actuaries. Since first launched in 2012, the PKU-CAS Actuarial Month has reached its 11th year milestone.
