CAS Announces Details on New CAS Course on Data Analytics

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The Casualty Actuarial Society (CAS) announced a new Online Course on Data Concepts in a December news post outlining changes to CAS’s 2023 credentialing requirements. This new course will provide candidates with P&C industry knowledge and data skills that will prepare them with job-ready capabilities for entry-level actuarial positions.

Like the current CAS Online Courses 1 and 2, the CAS has partnered with The Institutes to develop and administer a new Online Course on Data Concepts. Registration for this new Online Course will open in Q4 2022. Once a candidate registers, they will have immediate access to the course and learning materials. When signing up for the course, candidates will pick their desired exam window. Candidates must pass a final course exam to receive course credit. The first window available for candidates to take the exam will be January 15, 2023 – March 15, 2023. Other 2023 exam windows are April 15 – June 15, July 15 – September 15 and October 15 – December 15. CAS Online Course assignments are self-paced and are available to candidates as soon as they register. We expect the course work assignments to take an average of about 9-11 weeks to complete; all assignments must be completed prior to taking the exam.

The syllabus for CAS Online Course on Data Concepts is being designed by a task force of CAS certification staff and subject matter expert volunteers, as well as The Institutes certification staff. The assignments that are currently planned to be part of the course include:

Planning for Exploratory Data Analysis, Data Sources, Preparing Data for Analysis, and Working with Data

Characterizing Data with Visualizations, Interpreting Data Visuals, and Effectively Presenting Data

Insurance Applications of Data Modeling, Data Modeling Ethical Concerns, and: Societal Impact of Data Modeling

Recognizing the effects on candidates and interests of employers, the CAS encourages candidates to sit for CAS Online Courses after meeting the Exam 1 and 2 requirements. New P&C hires will find that the online courses give them a valuable knowledge base for their work, while university students and those seeking employment will find that completing the online courses will make them more attractive to prospective P&C employers. Moreover, since the online courses are less intensive than full examinations and can be taken remotely, they should be an appealing option for candidates in all phases of their career.

The CAS in partnership with The Institutes is pleased to offer a 50% discount on CAS Online Courses 1 and 2, as well as the new CAS Online Course on Data Concepts, to students and candidates who are not currently employed full-time.

Students must complete the discount form located on the CAS Student Central website. CAS Student Central Membership is a requirement to receive the discount. Candidates that are not students and are not currently employed full-time, should fill out the discount form on the CAS website.

We invite you to email any questions or comments about CAS credentialing requirements to CAS Administrative and Customer Support at casexams@casact.org.


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CAS Hosts First Ever Virtual Multi-School Case Competition

The CAS recently hosted its first virtual Multi-School Case Competition! Over the years, the CAS’s Case Competition Task Force has developed a series of case competition toolkits that have been utilized by universities and partner organizations. With the newly widespread familiarity and effectiveness of remote and virtual collaboration, the CAS decided to leverage these online tools to make the CAS case competition experience accessible to a broader range of aspiring actuarial students.

Learn More


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Register to Attend the Virtual Ratemaking, Product, and Modeling Seminar Student Program

The Casualty Actuarial Society (CAS) is pleased to offer a FREE virtual student program in conjunction with the Ratemaking, Product, and Modeling Virtual Seminar on March 15, 2022. University students interested in pursuing an actuarial career are invited to attend. The program will run from 10am-2:15pm ET. Students who participate in the entirety of the program will be issued a certificate of participation.

Agenda for the day:

10:00 a.m. – 10:10 a.m.  Welcome
10:10 a.m. – 10:40 a.m. Intro to the CAS and P&C Career Path
10:40 a.m. – 12:30 p.m. Featured Speaker- The Computer Knows Your Secrets: The Power, Challenge, and Opportunities of AI + Personal Data
12:30 p.m. – 12:45 p.m. Lunch Break
12:45 p.m. – 1:30 p.m. Intro to Basic Ratemaking
1:30 p.m. – 2:00 p.m. Career Panel
2:00 p.m. – 2:15 p.m. Debrief

Register Now!

The deadline to register is Thursday, March 10th. Please note, you must be a member of CAS Student Central to register for the events. Membership is free to university students; become a member by completing the following form.

If you have any questions, please contact Margaret Kerr, University Engagement Manager at CASstudentcentral@casact.org.


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Apply for the 2022 Midwestern Actuarial Forum (MAF) Scholarship

Apply for the 2022 MAF Scholarship

OBJECTIVE:

The objective of the scholarship is to further students’ interest in the property/casualty actuarial profession and to encourage the pursuit of the CAS designations.

AMOUNT OF SCHOLARSHIP:

Scholarships are awarded on the basis of individual merit. The MAF Scholarship Program will award up to two scholarships to deserving students for the 2021-2022 academic year. Both will receive a $1,000 scholarship.

Eligibility – You must meet all requirements to be considered

  • Must submit all sections of the MAF Scholarship application by February 15, 2021
  • Currently attending a U.S. college or university as a full-time student and continuing as a full time student at a U.S. college or university in the 2021-2022 academic year
  • Applicants must have sat for at least one actuarial exam by December of 2021
  • Must be a member of CAS Student Central
    • (Join here for free: CASstudentcentral.org)
  • Preference will be given to residents or those attending schools in one of the Midwest States (Illinois, Indiana, Iowa, Michigan, Minnesota, Ohio or Wisconsin)
  • Applicants should demonstrate high scholastic achievement and strong interest in the casualty actuarial profession, mathematical aptitude, and communication skills.

You must submit the following:

The four page MAF Scholarship application and attached essay.

One letter of recommendation included in this application, preferably completed by internship supervisors, instructors and/or advisors at your educational institution who know you well. Separate letters must be submitted and accompanied by the recommendation forms included. Only one recommendation letter will be considered.

A current official transcript.

*Incomplete applications will be disqualified without any consideration to partial information received.

*Completed applications are due by February 15, 2022.

*You will be notified of award decisions by March 11, 2022. 

Applications are available from MAF or online at the MAF website at https://www.casact.org/affiliate/midwestern-actuarial-forum-maf


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2022 ARECA Actuarial Scholarship Announced for Undergraduates in Asia

ARECA is pleased to announce the 2021/22 scholarship competition for current undergraduate students in the Asia Pacific region who are interested in pursuing the actuarial profession.

About the Scholarship:

The primary element of the scholarship competition is for the applicant to prepare an essay (approximately five pages) addressing a business scenario that is illustrative of the issues that are analyzed by property / casualty actuaries in their daily work.

Scholarship awards of US $1000 each (cash) will be awarded to three students. In addition, the Scholarship winners will have the opportunity to publish their scenario essays in CAS publications, and to participate in an upcoming local ARECA meeting (or other actuarial event) during 2022.

The funding for these scholarships is sponsored by AXIS, part of the AXIS Capital group of companies, which includes global insurers and reinsurers providing clients and distribution partners with a broad range of specialized risk transfer products and services.

About ARECA

Asia Region Casualty Actuaries (ARECA), based in Asia Pacific, is a Regional Affiliate of the Casualty Actuarial Society (“CAS”). ARECA is one of 17 CAS Regional Affiliates providing high-quality education opportunities to CAS members, candidates, students and other risk professionals across the world. For more information visit the CAS website.

Applications are due by 31 March, 2022.

Interested? Get more information and apply here!

Contact:

If you have questions about the scholarship, ARECA, the Casualty Actuarial Society, or the actuarial profession after reviewing the material available through the above link, please contact Bo Lin, CAS International Relations Manager, at blin@casact.org.


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The Wall Street Journal Publishes Article on Actuarial Exam Process

Last week The Wall Street Journal published an article exploring the rigors of the actuarial exam process, featuring anecdotes from candidates about their personal exam journeys.

CAS Staff Actuary Ken Williams, FCAS, was quoted in the overall piece and emphasized that the CAS is working to diversify its candidate pipeline while maintaining the rigor and integrity of the ACAS and FCAS credentials. “I think the piece certainly accurately details the arduous exam process,” said Williams of the published article. “But I think there are so many rewards from the credential you get at the end of the exam journey that make it worth it, which could have been highlighted as well. I personally think the knowledge and skills I learned from taking the exams, the career journey I have enjoyed as an actuary with my FCAS designation, and the community of belonging as a CAS actuary are just a few of the things that make this career path so desirable.”

The article also notes that the actuarial profession is seeing a decline in first-time exam candidates, but Williams said the CAS is not seeing the same for its exams. “In the past five years, we have actually had a 29% increase in candidates. So, we are very optimistic about the growth of the CAS pipeline and are excited to welcome this next generation of actuaries.” For more on CAS’s plans to modernize and transform its admissions process to meet the needs of today’s exam candidates, visit casact.org/ATP.

The full WSJ article is available on The Wall Street Journal website (subscription required).


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