Committee Explores "Expanding Actuarial Frontier"
Seeks Member Comments on CAS Strategic Plan

by Gary R. Josephson, Member CAS Long Range Planning Committee

In September 1996 the CAS Board of Directors approved the CAS Strategic Plan developed by the Long Range Planning Committee (LRPC). The plan’s purpose is to provide a sharper focus and a more definite direction to the CAS. The LRPC will review the plan in 1998. This is the first in a series of articles that will address specific aspects of the plan.

The CAS Strategic Plan identifies education as a primary function of the Society. Two specific activities identified for the education function are:

1. Integrating actuarial skills into other disciplines;
2. Expanding skills for applications similar to property/casualty risk exposures.

Implicit in these two activities is the suggestion that the actuarial frontier is expanding beyond conventional insurance applications into areas that are similar to property/casualty risk insurance. As a consequence, the CAS education (basic and continuing) function will need to move in step with this expanding frontier.

The LRPC would like members’ comments on this topic, in particular:

1. What specific areas, outside of the conventional casualty actuarial applications, appear to present opportunities for casualty actuaries in the future?
2. What role should the CAS play in developing and communicating actuarial expertise in these areas?
3. How has the CAS education function adapted to the changing roles of casualty actuaries over time?

We also invite comments on other aspects of the plan. The CAS Strategic Plan is available on the Web Site. Written comments should be submitted to John Purple, Chairperson, Long Range Planning Committee, c/o CAS Office.