In My Opinion

The Internet and the Actuarial Societies

by Walter C. Wright

There are obviously many ways that the Internet is changing our professional lives. Perhaps not so obviously, the Internet is also changing the format of information exchange among actuaries. This offers the distinct possibility of improving communications among the memberships of the various actuarial societies, thereby enhancing the ability of the various societies to work together for their mutual benefit.

The uninhibited free flow of ideas via the Internet is phenomenal. For example, go to the "Water Cooler" section of the Student Discussion Forum, on the CAS Web Site. This has a slew of ongoing discussions, some frivolous, others serious. It's just like real "water cooler" talk, with the key difference that there is anonymity for those who want it, and no restriction on participation. It is open to anyone, anytime, anywhere in the world. Here is a small sampler of what you might find:

• "My greatest fear of the Big Tent is my long, hard road to membership will seem like a waste if others can waive exams and be credentialed..."

• "I believe that if actuaries expand their core knowledge then they are positioned to expand the field. That is fundamentally different from the Big Tent's idea that `If you can't beat them, join them' (or ask them to join you)."

• "If the Big Tent is partially about bringing these sorts of noninsurance analytic people under a broadened banner of the actuarial profession, as well as identifying credentialed actuaries as being potential candidates for such roles, I'm all for it."

• "I do like some of what the Big Tent philosophy encompasses—expanding the actuarial profession, finding better ways to train and credential new actuaries, and better PR are all things we should be doing. If I have a major issue with the Big Tent, it's the sponsorship. Shouldn't this sort of an initiative be coming out of the Academy, rather than the SOA?"

This dialogue gives us a lot to think about. For one thing, it's a good exchange of ideas among CAS members and students. I believe the discussion would be even more interesting if more people joined the discussion, especially if it included occasional contributions from the CAS leadership.

Second, this exchange is in the Student Discussion Forum, which is open to everyone, rather than in the Members' Discussion Forum, which is restricted to CAS members. I don't know why, but it is rare to find good discussions in the members' forum, even though members participate actively in the student forum. Do participants prefer sharing ideas in a more open environment?

Third, the thread starts with a reference to an article in an SOA publication, which is easily accessed by any CAS member. Both the SOA and the CAS have opened their newsletters, and other publications, to the general public. With just a few mouse clicks, any CAS member can find out what ideas the SOA is espousing to its members, and conversely.

Distrust between groups is almost always accompanied by a lack of open communication. For many years, at least since I entered the profession, some CAS members have not trusted the SOA, and have been skeptical about the strategic intentions of the SOA. The Internet, coupled with the fact that the various actuarial societies are making their respective newsletters and other information publicly available, opens the lines of communication. That is healthy for the profession and may lead to increased cooperation as we pursue our joint interests in the years ahead.