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CAS Launches Research Paper Series on Race and Insurance Pricing

Arlington, VA -- Research reports designed to guide the insurance industry toward proactive, quantitative solutions to identify, measure and address potential racial bias in insurance pricing were published by the Casualty Actuarial Society (CAS) today.

“The CAS is proud to move forward with not just a commitment to diversity, equity and inclusion in all aspects of actuarial work, but with research that tackles the issue on a quantitative level,” said Victor Carter-Bey, DM, CAS chief executive officer. “These papers are an important contribution to the conversations that are taking place in the insurance industry to address the potential implications of racial bias in insurance pricing. We want our unique and valuable actuarial perspective to help further and enhance those conversations.”

“This research helps lay the groundwork for CAS members and other stakeholders to become aware of the discussions taking place around this topic and the potential impact on the work that actuaries do,” said Roosevelt Mosley, FCAS, CSPA, CAS president-elect, co-author of one of the papers and a principal and consulting actuary with Pinnacle Actuarial Resources. “Actuaries’ expertise in insurance pricing and our extensive training, from analytical skills to deep industry knowledge, allow us to contribute in quantifying and explaining the issues moving forward.”  

To this end, the Society is releasing a series of four CAS Research Papers, which support the CAS’s Approach to Race and Insurance Pricing. This approach was adopted by the CAS Board of Directors in December 2020 and includes four key areas of focus and goals: basic and continuing education, research, leadership and influence, and collaboration. Each paper addresses a different aspect of race and insurance pricing as viewed through the lens of property and casualty insurance. The first two papers are available today on the CAS website:

The other two papers will be released on Thursday, March 31:

The CAS keeps its members informed of emerging industry developments, such as race and insurance pricing, that may significantly impact how actuaries practice. These four new CAS Research Papers are reflective of the CAS’s Approach to Race and Insurance Pricing, which outlines four areas of focus -- education, research, leadership and collaboration.

These four research reports are just one way the CAS supports evolving actuarial practices and strengthens the knowledge of its members. The papers demonstrate the Society’s recognition that actuaries—who are responsible for setting insurance rates—must acknowledge societal issues and be part of an ever-evolving dialogue. The CAS understands that this work is critical to maintaining the Society and its members’ public trust.

Papers can be accessed on the CAS website. For media inquiries please email

Other inquires or feedback regarding the papers may be sent to Those interested in contributing literature to the research on Race and Insurance Pricing should refer to the Submit Your Work page on the CAS website. Please refer to the guidance for submissions under E-Forum and/or Working Papers.

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About the Casualty Actuarial Society (CAS)
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. Founded in 1914, the CAS is the world's only actuarial organization focused exclusively on property and casualty risks and serves over 9,500 members worldwide. Professionals educated by the CAS empower business and government to make well-informed strategic, financial and operational decisions. Learn more at