Meet the Candidates - Wanchin Chou

FCAS - May 2002
ACAS - May 1998

Candidate Information

Biographical Information


BS, Nuclear Engineering, National Tsinghua University, Taiwan

MAS, Actuarial Science, Georgia State University

Current Employment:

Assistant Deputy Commissioner and Chief Actuary, Connecticut Department of Insurance

CAS Activities and Publications:

Risk Management Committee (RMC), Member - 2022 to Present
International Actuarial Association WG, Observer – 2021 to Present
International Webinar, Member – 2021 to 2022
University Liaisons
Syllabus Committee, Member, 2005 – 2011
Examination Committee, Member/Vice Chair, 2002 – 2005

Other Actuarial Organizations

AAA, Casualty Practice Council, Member 2019 – Present

  • Committee on Cyber Risk, Member/Vice Chair, 2019 – Present
  • Property and Casualty Risk-Based Capital Committee, Member, 2018 – Present

AAA, ASOP 39, Member 2022 – Present

Other Professional Designations

Member, American Academy of Actuaries (MAAA) Chartered Property Casualty Underwriter (CPCU) Certified Specialist in Predictive Analytics (CSPA) Certified Catastrophe Risk Management Professional (CCRMP)

Additional Biographical Information

Employment History - Prior Employers:

Liberty Mutual (2003-2015) – VP and Chief Actuary – LI Global Analytics Capabilities
The Auto Club Group (1998-2003) – AVP and Chief Pricing Actuary
Ohio Department of Insurance (1995-1998) – Associate Actuary
Heritage Mutual Insurance Company (1991-1995) – Sr. Pricing Analyst
Taiwan Power Company (1981-1988) – Senior Nuclear Engineer/Risk Management

Membership and Activities in Other Organizations:

Casualty Actuaries of New England
CSPA; Member and participated in writing the exams questions in 2020-2021
ISCM; Member and participated in CAT practices.

Civic Activities:

GBCCA (Greater Boston Chinese Culture Association) – Member (2004-C) & President (2008-2009) & Board Director (2010-2012), Cultural Activities
NEACP (NE Association of Chinese Professional) – Board Director (2005-C) & President (2015-2016) & Chairperson (2022-2023), Educational Activities
CEDC (Chinese Economic Development Council) – Board Director (2009-C), Affordable Housing
CCBA (Chinese Consolidated Benevolent Association – Boston) – Board Director (2022-Current)

Other Revelant Information:

Liberty International, led the advanced analytics tools and capabilities.
AAA Michigan, helped chief actuary and others to grow business from one state to 10 states. Ohio DOI helped chief actuary to improve 15-day turn around time.
GBCCA, organized all Boston Chinese communities and led the ‘Walk for Sichuan Earthquake Relief Donations’ to raise $210K in May 2008.
CEDC, completed a 7-yr 73 affordable housing units project with other executive board directors in 2015
NEACP, hosted many professional topics webinars, activities, and annual conferences.

Why do you want to serve on the CAS Board of Directors?

I came to the actuarial career in my 30’s and along my journey across insurance companies and regulators, I have been supported by strong actuarial leadership and I want to give back to the CAS, an organization that has done so much for me. I want to serve as a member of the Board to bring our community together to work on the CAS strategic plan that is consistent with our members’ priorities. The actuarial profession brings value to the insurance industry. I’d like to serve as your board director and help promote the following values:

A. Effective Regulation - I have been the Chief Actuary for the CT Insurance Department since late 2016. Before that, I was with Liberty Mutual for advanced analytics and international operations. The public wants two things from insurance regulators: They want solvent insurers who are financially able to make good on the promises they have made, and they want insurers to treat policyholders and claimants fairly. My involvement in many NAIC committees allows me the opportunity to serve you and the industry better, to improve the regulatory environment for you to deliver better actuarial services and add more value to your companies.

B. Capability - Building skills for the future has always been a key part of our mission and it constantly presents us with new challenges. With recent AI developments, CAS actuaries have a critical role in promoting AI innovations and managing modeling risks. We can partner with data scientists to improve the effectiveness of our models and therefore provide more value to the insurance industry. The Board’s role is to provide direction to get us through the issues that arise and to prepare us for the future. With my actuarial experience in traditional pricing and reserving functions as well as advanced analytics in modeling – (ECM, predictive modeling, and CAT modeling), I can offer a different perspective on issues that affect the CAS and work with the CAS leaders to increase the relevance and demand for CAS services.

C. Collaboration and Inclusivity - It was announced at the 2023 CAS Spring Meeting that we reached the 10,000-membership milestone. As the CAS gets larger it gets more difficult to hear all the issues that are facing our fellows, associates, and students. We need to constantly reinvent our ways of communicating to engage our members and get their feedback. With my experience in international operations and my current responsibility working with life actuaries from SOA, I can better appreciate the difference in actuarial practices and help to attract more students to the CAS. My goal is to help grow the actuarial community by bridging the gap between different perspectives, and I want to be on your Board of Directors to make this a successful journey.

With this nomination, I’m honored to be considered for the opportunity to share my deep experience and knowledge that I can share with other CAS members, as we work together to make important decisions that impact the future of our organization.

Candidate Issue(s) Identification and Discussion

The most important issue facing the CAS today is implementing the strategic plan to ensure our profession continues to grow and attract the highest quality candidates. As a Board member, addressing the issues laid out in the three key pillars in a way that does not diminish the value of our credentials is my first priority. We have a globally admired designation which we must maintain. However, we must evolve and I am eager to help lead us through that change.

Pillar #1 - Build Skills for the Future: As laid out in the third pillar of the Strategic Plan, there is a growing “global demand for the services and expertise of CAS members.” To stay relevant and maintain our high-quality designation, we need to continue to evolve with the field. Ensuring our members have the skillset to be industry-leading problem solvers will be key to remaining relevant in our expanding field. Are you interested in participating in AI space, climate changes, cyber risk, natural catastrophes, modeling regulations?

Pillar #2 - Diversify our Pipeline: Diversity is a real opportunity, not only in the standard ways that we think of it but also in the educational institutions from which we recruit our talented candidates and in the perspectives that are heard. For example, how we compete with the SOA in the demographics of the schools targeted for recruiting, how we attract data scientist, how we invite our new CAS members to volunteer and get mentorship from experienced actuaries, how we engage our long time CAS members to share their experiences and contribute more, etc.

As we continue the transition to a “new normal” following the many COVID-induced changes in how we work and interact, communication is critical! Virtual technology enables more frequent direct communication without requiring in-person meetings. The landscape is changing, and we need to get ahead of future changes. Input across different ages and experience levels of our CAS members, across lines of business and across international boundaries will enhance our effectiveness and adaptability.

Pillar #3 - Expand Globally: Demand for insurance professionals outside of North America is growing faster than our membership, and the efforts by the global volunteer community to address this and other issues have been vast. With my international operations experience, I have worked with many countries, leaders, and actuaries in the world, and was delighted to learn their cultures, languages, business expectations, and needs. Are you interested in participating in Solvency II and RBC, IFRS 17, price optimization, cyber risk, inflation, interest rate, and IIF Planning for the Climate Transition?

The CAS should be looked to for research and perspective on topics that are relevant not just to the US, but globally. We have a globally admired designation which we must maintain, but we must continue to adapt.

Please follow up with questions to the Candidate if you would like a more detailed response in what, why and how.