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Relative to some other professions, like teacher, doctor, or engineer, the job of actuary seems like a modern idea. After all, there are many fewer actuaries despite it being ranked as one of the best careers in the world. However, the practice of actuarial science is not as young as it used to be. In fact, primitive versions of actuaries are as old as insurance itself, dating back to the seventeenth century. The Casualty Actuarial Society was founded in 1914, which set forth the principles that we follow today.
The world is going through an extraordinary event.
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.
The Board of Directors is proposing changes to the CAS Constitution and Bylaws to streamline the governance of the Society. Fellows will be asked to vote on the changes in conjunction with the 2021 CAS elections in August. In putting the proposals on the ballot, the Board is recommending that the Fellows vote in favor of the amendments.
This webinar will enable attendees to understand key principles and requirements involved in the regulatory review of predictive models and, in particular, will address how the Property and Casualty Section of the Nevada Division of Insurance reviews predictive models, what support is required for such models, common issues encountered in the course of review, and ways in which communication can streamline the review process.
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IIHS-HLDI researchers have recently completed groundbreaking research that significantly expands our understanding of the impact of advanced driver assistance systems (ADAS) and driving automation on highway safety and auto insurance. Currently, the most advanced vehicles for sale in the US have Level 2 automation, but the effect on claim frequency is mixed for these systems. The impact of these systems on repair costs and collision claim severities is complex. The enabling sensors can be expensive when damaged because in addition to being replaced, they often need to be recalibrated.
CAS Research Actuary Brian Fannin, ACAS, CSPA, MAAA, recorded a webinar for university students based on his research brief, “COVID-19: The Property - Casualty Perspective.”[PDF] The recording, which has been released through CAS Student Central, our free membership program for students interested in pursuing an actuarial career, is also available to CAS members, affiliates and partners via the
HAROLD W. SCHLOSS MEMORIAL SCHOLARSHIP FUND
In November 1984, the Harold W. Schloss Scholarship was established by the Casualty Actuarial Society as a memorial to Mr. Schloss, a past president of the Society. The fund for this annual $500 scholarship stipend was initiated by Mr. Schloss' wife, France A. Schloss, and their children. The scholarship is being used to benefit deserving and academically outstanding students in the actuarial program of the Department of Statistics and Actuarial Science at the University of Iowa.
The Importance of Adverbs on Exams
By Steven D. Armstrong, FCAS, Examination Committee General Officer
During the creation of the CAS exams, the writers, Part Chairs, and General Officers pore over the meaning of every word in each question to ensure that the question is not ambiguous and that it prompts the test-taker to provide enough information to demonstrate required mastery of the relevant subject material.
2018 CAS UNIVERSITY AWARD WINNER - UNIVERSITY OF TEXAS AT AUSTIN
This is a four day-long course that will give the attendee an introduction to R, but with the objective of preparing attendees to be able to apply what they've learned upon completion of the course. To that end, the focus is on direct, interactive content delivery.
October 15, 2020 – The Joint Committee for Inclusion, Equity and Diversity (JCIED) – an effort between the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) – proudly announces a series of professional development sessions that will take place at each of their respective annual meetings.
The CAS will be hosting its 2020 Virtual Annual Meeting November 9-12. Diversity, equity, and inclusion-related sessions include:
CAS members looking to discuss actuarial and data-related implications of COVID-19 are invited to join discussions taking place in the CAS General Research online community. The community has recently generated several discussions related to COVID-19, including around the creation of CAS GitHub repository for COVID-19 data.
Dear CAS Members,
The CAS is closely monitoring the continuing developments pertaining to the outbreak of the novel coronavirus (COVID-19). With the constant stream of evolving information, I wanted to provide our community with an update on the considerations and actions the CAS is taking to ensure the health and safety of our members, candidates, and other stakeholders. These include:
Cancelling the 2020 Ratemaking, Product and Modeling (RPM) Seminar set to take place March 23-25 in New Orleans.
This is a four day-long course that will give the attendee an introduction to R, with the objective of preparing attendees to be able to apply what they've learned upon completion of the course. To that end, the focus is on direct, interactive content delivery.
This is a four day-long course that will give the attendee an introduction to R, but with the objective of preparing attendees to be able to apply what they've learned upon completion of the course. To that end, the focus is on direct, interactive content delivery.
In April 2020 word began to spread that actuarial students were having their summer internships shortened, altered, and in some cases, cancelled altogether. CAS President Steve Armstrong approached the University Engagement Committee (UEC) and proposed we find a way to assist these students by offering a program that would help them gain knowledge and experience similar to what an internship would have offered them.
The 2020 Spring Meeting of the Casualty Actuaries of the Southeast (CASE) will be held in Nashville, TN on Monday, March 16, 2020. The meeting will start with breakfast at 8:30 am and is expected to adjourn by 3:45 pm. Business casual attire is recommended.
MEETING LOCATION:
Room: Memorial Hall
Alumni Hall Vanderbilt University,
23rd Ave N,
Nashville, TN 37212
Please note that due to limited space, registrations will be accepted on a first come first basis. Be sure to register early and ensure your attendance.
If you are unable to attend any in-person seminars or meetings, don’t worry, you still have a chance to get continuing education from the convenience of your home or office!
Arlington, VA – November 12, 2020 – Jessica Leong, FCAS, an insurance industry veteran with more than 20 years of experience, began her term as the president of the Casualty Actuarial Society (CAS) today in conjunction with the 2020 CAS Annual Meeting.
The Casualty Actuarial Society (CAS) selected four universities as recipients of the 2020 CAS University Award, an honor created to celebrate universities that share our commitment to fostering the development of the next generation of property and casualty actuaries.
As part of the CAS Strategic Approach to Diversity, Equity and Inclusion (DE&I) adopted by the Board of Directors in September 2020, the CAS has committed to setting concrete goals and maintaining transparency and accountability on progress on our DE&I initiatives. To this end, we have built a set of detailed demographic metrics for CAS members and candidates, designed to help us understand the current state of diversity in the CAS, set goals, and track changes over time.
As part of the CAS Strategic Approach to Diversity, Equity and Inclusion (DE&I) adopted by the Board of Directors in September 2020, the CAS has committed to setting concrete goals and maintaining transparency and accountability on progress on our DE&I initiatives. To this end, we have built a set of detailed demographic metrics for CAS members and candidates, designed to help us understand the current state of diversity in the CAS, set goals, and track changes over time.
Sustaining Partner CAS to Participate as Platinum Sponsor
