Build Your Knowledge
Learn more about Race, Gender, and Meritocracy in the first video from our Foundations of Diversity, Equity and Inclusion series.
Race and Insurance
Watch the recording of The Actuary and Social Justice presented at our 2020 Annual meeting.
News & Announcements
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CAS DE&I Vision and Strategies
Adopted October 2020
With a clearer understanding of the society in which we operate and its impacts on our own members and candidates, the CAS recognizes that equality will never be achieved until equity is our guiding principle and pledges to:
- Center and amplify the viewpoints of underrepresented candidates and members - those who have been doing this work for years and know best how to address the issues of their constituencies.
- Break down the Barriers to Entry identified in the 2017/2018 SOA/CAS/IABA/TAF Research Study.
- Scrutinize and rebuild CAS systems to combat direct and indirect systemic bias, and ensure our work does no harm.
- Recognize that we do not exist in a vacuum and we cannot succeed unless we invest in the community at large, with particular focus on organizations that support racial justice in education.
- Set concrete goals and maintain transparency and accountability around progress and failure.
- Employ learnings from the above process to address issues facing members and candidates in other historically marginalized groups within and outside of North America.
On December 4, 2020, the CAS Board of Directors approved a recommended CAS Approach to Race and Insurance Pricing, with four key areas of focus and goals:
- Basic and Continuing Education – to provide members and candidates with a strong foundation in the historical issues of systemic racism and their potential impacts on insurance, covering concepts of disparate impact and discrimination, past and current research, and professionalism implications.
- Research – to develop methodologies that identify, measure, and address disparate impact, to evaluate emerging technologies and to prepare actuaries and insurers for potential regulatory actions, in alignment with the CAS Core Values of continual improvement and innovation.
- Leadership and Influence – to play a leading role in the discourse on potential racial bias in insurance pricing, among our membership as well as across the insurance industry and with the public.
- Collaboration – to proactively engage and partner with regulators, insurers, actuarial bodies, consumer groups and other organizations addressing issues related to race and insurance and to ensure that diverse perspectives contribute to CAS-commissioned efforts.
The CAS will facilitate the evolution of a multi-dimensional property/casualty actuarial profession by increasing total membership of under-represented groups in the CAS. While our membership and our goal for a multi-dimensional profession are global, our immediate focus is the membership of the U.S. population, where the vast majority of our members practice. Hence our initial focus is toward the under-represented groups in the U.S. However, we would also lend support to diversity efforts outside the U.S. where feasible. This general goal was adopted by the CAS on May 12, 2018.
In 2021, CAS set goals for representation of new members in key gender and race/ethnicity groups:
- Women (all races) – 45% in 2026-2030, 50% in 2031-2035
- Black members (all genders) – 5% in 2026-2030, 10% in 2031-2035
- Latinx members (all genders) – 8% in 2026-2030, 16% in 2031-2035
- Indigenous members (all genders) – 1% in 2031-2035
CAS is endeavoring to collect additional information related to other dimensions of diversity, such as LGBTQ+, disability, veterans status, etc, and may set additional representation goals for these categories if appropriate. CAS also expects to apply best practices from diversity efforts in the United States to other countries where CAS members and candidates practice.
In 2019, the Joint Committee for Inclusion, Equity and Diversity was created as a partnership between the Casualty Actuarial Society and the Society of Actuaries. The purpose of the committee is to advise on and oversee inclusion and diversity strategy, in line with organizational strategy of both the Society of Actuaries and the Casualty Actuarial Society, for the actuarial profession in the geographies and practice areas we serve. The JCIED will invest in resources and programs to achieve the greatest effect on inclusion and diversity for SOA and CAS members, candidates and potential future members, in areas of awareness, recruitment, advancement, leadership, education, professional development and culture.
JCIED Mission Statement
The CAS/SOA JCIED works to promote:
- Our profession as the STEM career of choice for candidates of all perspectives, experiences and backgrounds
- A strong sense of belonging such that our members fully contribute to advance the profession
- Equitable opportunity for education, research and leadership for our stakeholders
Adopted May 12, 2018
The CAS promotes involvement in the property/casualty actuarial profession regardless of race, ethnicity, gender, religion, age, sexual orientation, national origin, physical or mental ability, appearance, military service or geographic location.
Adopted May 12, 2018
In principle and in practice, the CAS values and seeks diverse participation within the property/casualty actuarial profession. In support of those values, the CAS encourages an inclusive community where differences are celebrated and all have the opportunity to participate to their fullest potential in the CAS’s success. The CAS commits time and resources to accomplish this objective.
Adopted May 12, 2018
To meet the ever-changing needs of an increasingly complex world, our membership needs to mirror the marketplace and our local communities. In order to maintain the public’s trust, we must understand the risks and challenges they face and provide protection, products, and services tailored to their needs. To ensure products and services are designed for a diverse customer base, we must attract and retain the best talent who will bring unique life experiences and professional capabilities that enrich all of us and our respective communities.
Hence, diversity is foundational to creating an innovative and competitive membership able to relate to the multi-faceted issues facing today’s employers. Having a diverse membership helps to build a broad array of backgrounds and talents to approach and solve business problems in the modern global economy. Having an actively involved, diverse membership reflective of the broader general population helps the CAS recognize the full horizon of issues that are central to the success of our members, their employers and society as a whole.