The Casualty Actuarial Society (CAS) has released its 2021-2023 Strategic Plan, which is a bold new vision that sets the direction for the organization’s continued growth and success over the next three years. The inspiration for the Strategic Plan is illustrated through a new Envisioned Future that foresees:
CAS members are sought after globally for their insights and ability to apply analytics to solve insurance and risk management problems.
The Envisioned Future was influenced by a variety of trends that surfaced through extensive market research with employers, both within and outside the insurance industry, that pinpointed potential gaps in employee data analytics and other skillsets. The research also identified opportunities for the CAS to address those gaps and evolve the role of its members. With this market intelligence, the Strategic Plan is designed to prepare CAS members with skills in three primary areas:
1. Analytics, to tackle the important insurance and risk management problems in our data-rich world.
2. Problem solving, built upon strong strategic thinking and communication skills.
3. Domain knowledge, specifically property and casualty insurance and risk management.
“Imagine these three skill sets as a Venn diagram,” said Jessica Leong, incoming President of the CAS. “The professionals in the middle are CAS members, who possess not only an incredible depth of domain knowledge but also creative abilities to get from data to insights to impact.”
The new Strategic Plan includes a road map for moving towards the Envisioned Future, built around three pillars – the opportunities the CAS will aggressively pursue over the next three years:
- Pillar 1. Building Skills for the Future
- Pillar 2: Diversifying the Pipeline
- Pillar 3. Expanding Globally
These pillars will be supported by a reimagined staff and volunteer workforce, led by CAS CEO Victor Carter-Bey. “The new Strategic Plan calls for the CAS to expand, innovate, and deliver value in creative ways, and doing that requires us to embrace collaboration and teamwork,” explained Carter-Bey. “An evolution of this caliber will entail new levels of resources and support, and we will change with a spirit of optimism and tenacity as we move towards our Envisioned Future.”
CAS members and other stakeholders are encouraged to read the new CAS Strategic Plan and to provide any feedback by sending an email to CEO@casact.org.