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The CAS Actuary of the Future Speaker Series features CAS members who represent that future - actuaries who have solved big problems faced by their employers or principals by thinking boldly and creatively applying their actuarial skills, while collaborating with other stakeholders. Ultimately, these actuaries brought value to their organizations in ways that haven't been done before.
The CAS Research Council is issuing a Request for Proposals (RFP) to generate a brief that discusses issues and best practices as relates to emerging regulation/statutes surrounding algorithmic bias.
Casualty Actuarial Society (CAS)
CAS is the world’s only actuarial organization focused exclusively on property and casualty risks. Visit https://www.casact.org/about for more information.
The CAS is issuing a Request for Proposals (RFP) for a research paper which studies and discusses climate-related actuarial considerations for general insurers in Asia, Africa, and/or South and Central America.
Find out all that is being planned for L.A. this November — the sessions, an intriguing keynote speaker and an exciting new program called Quick Bytes.
Registration is closed for this event.
The Dive in Festival, a global movement dedicated to diversity, equity and inclusion in the insurance industry, will take place worldwide from September 26-28, 2023. For the third consecutive year, Dive In will be held in a hybrid format, with in-person events streamed live and online sessions accessible through the festival’s online portal.
This webinar is 90 minutes.
This webinar is complimentary to non-North American audiences in the CAS.
The presentation looks at some of the non-life COVID policies launched in Asia, from aspects including the product design, pricing, reserving approach and regulator intervention. Drawing from case studies in Asia, the speakers discuss some of the lessons learnt from this COVID experience of offering a seasonal product tailored to the current environment.
Key Messages
The Ratemaking, Reserving, Reinsurance, and Risk research working groups of the Casualty Actuarial Society are jointly sponsoring a peer-reviewed call for essays on social inflation. A total prize fund of $10,000 is available for essays submitted in response to the call. Both CAS members and non-members are eligible to submit essays.
Registration Closed
Calling all local Georgia actuaries!
The Casualty Actuarial Society and Society of Actuaries are excited to be hosting Be An Actuary Day with Georgia State University! Interested in sharing your love of the profession by inspiring the next generation of actuaries? Volunteers are needed to share their stories about why they became an actuary and help high school students learn about the profession during this free, fun, and interactive half-day event in Atlanta, GA.
Event Details
Location:
The CAS is pleased to announce the dates and locations for the next two CAS Spring Meetings:
2024 Spring Meeting
May 5-8, 2024
Atlanta, Georgia, USA
2025 CAS Spring Meeting
May 4-7, 2025
Toronto, Ontario, Canada
Details on exact locations will be announced once contracts for meeting space have been finalized.
The CAS is pleased to announce the release of its Summer 2023 E-Forum. This edition has one independent research paper and two reinsurance call papers.
Papers include:
E-Forum no longer requires submissions to conform to an established template in Word. With the implementation of its new microsite, the need for a template has been eliminated. Authors no longer need to spend extra time formatting their submissions in Word (e.g., headers, footers, fonts), but they still need to indicate section headings and subheadings.
As the dust settles on the initial surge of inflation yet its impact persists, how can insurance professionals keep up with the changing trends and preemptively address the challenges? What are the ripple effects of enduring inflation and how does it redefine our strategies?
Learn More
Are you looking for an exciting volunteer opportunity with the CAS? The Admissions Department is seeking new graders for the fall for the following exams:
Exam 5 (Basic Ratemaking and Estimating Claims Liabilities)
Exam 6U (Regulation and Financial Reporting US)
Exam 8 (Advanced Ratemaking).
The exams have the following domains, which correlate with questions that volunteers grade:
To learn more about the Ontario Conference of Casualty Actuaries (OCCA), please visit their website.
Valuable data that could be used for business insights and decision-making is often only available in free form text fields. This presentation will review one method of converting text to more usable information by using Latent Dirichlet Allocation (LDA) topic modeling. This discussion will include an overview of where this method was applied to voicemail transcripts to quantify the most common reasons claims participants call claim representatives, with the results helping to prioritize IT investment in building out self-service functionality.
A high-level introduction to auction theory and its applications to insurance ratemaking. Examples in the webinar will focus on individual large risks and range rating, but the theory has very wide applicability across types and lines of insurance. Key messages include: The process of buying insurance coverage may be described as an auction; An actuary who is responsible for ratemaking should us conservatism to control for their own fallibility; The appropriate amount of conservatism in ratemaking can be modeled out using the tools of auction theory.
The Casualty Actuarial Society (CAS) is pleased to announce the winners for the 2023 Volunteer Awards.
The New Members Award is given annually to one or more members of the CAS who have made significant volunteer contributions within five years of their most recent credential.
The 2023 New Members Award is awarded to:
Dear CAS Members:
Balloting for the 2023 CAS election has closed and all candidates have been contacted regarding the results.
David Cummings has been elected President-Elect.
Wanchin Chou, Sandy Lowe, Joe Milicia, and Kathleen Ores-Walsh have been elected to the Board of Directors.
Volunteering as a Candidate
Volunteerism is a core value of the CAS, and about one-third of CAS members volunteer for the organization each year. CAS candidates have increasingly expressed an interest contributing as volunteers too, and there are a number of ways that candidates can serve as volunteers. Candidates should check with their employer to make sure they support the time commitment for volunteer activities.
Volunteer Opportunities
Candidate Advocate Working Group
In this session, we will show how Covid-19 impacted driving behavior and crash trends, how these trends continue to be felt throughout the auto insurance industry, and how insurers can use new sources of data to improve profitability in a challenging market. We will share the fundamental idea and empirical evidence for the relevancy of crash location and other dynamic information in the context of auto insurance.
While analytics are becoming common across insurers’ various functions, simple heuristics like loss ratios are still common for agency and distribution channel analytics at many P&C companies. In this session we will discuss similarities and differences between modeling agencies vs. policy level pricing analytics, challenges to consider, potential terms to include in models, and considerations when discussing with business areas.
Inspired by the recent popularization of Generative Pretrained Transformers (GPT), the model that powers OpenAI’s ChatGPT, this presentation will provide an overview of large language models and explore their potential applications in the insurance industry. GPT models have achieved groundbreaking results in a variety of natural language processing tasks. We will examine the potential impacts of GPT and similar models on the insurance industry and actuarial work. We will also explain how these models work to enable a deeper understanding.
