CAS Online Courses Are a Reality

The CAS Committee on Continuing Education offered the first CAS Online Course, Financial Risk Management for Insurers, on October 2-19, 1998. Twenty actuaries completed the course entirely over the Internet. Participants were able to obtain lecture notes, engage in class discussions, receive and submit assignments, and take the class exams electronically on their own time. Limited audio sessions were also provided.

The course, taught by Stephen P. D'Arcy was modeled after a course he offers at the University of Illinois. The online course introduced popular measures of financial risk and described the techniques used to manage resulting exposures. The course also analyzed specific risks that insurers are exposed to and analyzed how insurers can and do apply financial risk management techniques to reduce volatility of earnings and surplus.

The course was the first of four modules that the CAS has approved for development. The financial risk management module will be offered twice this year and two other modules, one on loss distributions, will also be offered this year. All courses will be three weeks long.

"I'm excited that we were able to develop this course over the Internet," said Pat Crowe, a member of the committee. "I strongly believe it is the wave of the future for actuaries cramped for time to meet their continuing education needs. It's becoming more and more difficult for actuaries, particularly consultants and those who work in other countries, to get the time to travel to the more traditional educational venues," he said. Crowe worked on the project with D'Arcy, Mike Boa of the CAS Office, and the Committee on Online Services.

For more information on 1999 offerings, visit CAS Online Courses.

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