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The Casualty Actuaries of Europe (CAE) is excited to announce that our next scheduled live event will take place in Zürich on Friday the 29th of September 2023, again hosted by SCOR.
We expect the sessions to start at around 9am (with doors opening at 8am) and run through to 5pm, with plenty of networking breaks. We will also again be streaming the event for those who are unable to attend in person. As usual, there will be a visit to a local pub near the venue after the event.
Details will be forthcoming.
Along with R, Python has emerged as an appealing option for actuarial work. Python is a free and open source language with a large, global community of users. Python supports general-purpose programming including automation of file system operations, data I/O, and plotting. A number of packages are available to carry out classical statistical analysis, as well as more recent statistical learning methods. There are also packages which perform specific actuarial methods like loss reserving.
How is machine learning used for loyalty programs and what can it teach us about insurance claim reserving? While triangular methods have been a foundational tool for decades, individual claim reserving gives the actuary far more information about changes and trends in the liability. Yet the commonly used individual claim reserving techniques leave some of the most valuable data unexamined.
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Academic Community Meeting and Seminar Fee Waiver Program for Academics
The CAS values the contributions of academics to the advancement of actuarial science and encourages academics to participate with practitioners at CAS meetings and seminars. Members of Academic Central may attend up to three CAS national meetings or seminars per year with registration fees waived. (This does not include Regional Affiliate Meetings.)
University Liaison Program Volunteers Needed
In support of the CAS Strategic Plan, the CAS has an objective to increase its presence on college campuses, and the University Liaison Program, with the help of CAS volunteers, can help meet that objective. You know that the CAS is a great organization. Let's make sure that students know that, too.
The Casualty Actuarial Society (CAS) has released new research papers tackling two key areas of climate risk: flood and wildfire.
Arlington, Va.
Actuarial science has been built on the idea of open-science with a rich repository of papers, monographs and studies made freely available by the CAS. Recently the CAS launched a Github organization, enabling the open-science philosophy to be extended to open-source tooling. This session will explore the benefits of open-source tools, how and why we should get involved. We will also dive deeper into the chainladder-python library to give a practical example of how these tools and the community that surround them can benefit you and your organization.
Actuarial work is complicated and difficult to understand and so it is hard for non-actuaries to understand our work. The problem is often exacerbated by actuaries having spent 10,000 or more hours studying technical matters but probably less than 1,000 hours developing communication skills. As actuaries advance in their careers, effective communication becomes more important than analytical work (which can be delegated to capable staff). Also, as actuaries we likely have even less experience in dealing with confrontation which can be critical when communicating bad news.
The 11th “PKU-CAS Actuarial Month” was Held in Peking University
“PKU-CAS Actuarial Month” was co-organized in November 2022, by CAS ARWG and Peking University (PKU) in China. The month-long event aimed to promote the P&C actuarial profession to the university and to help students understand more about P&C actuaries. Since first launched in 2012, the PKU-CAS Actuarial Month has reached its 11th year milestone.
The Casualty Actuarial Society is pleased to announce the release of a new CAS Research Paper, “Understanding the Demand for Inclusive Insurance: A Pilot Study,” authored by Ida Ferrara, Edward Furman and Tsvetanka Karagyozova. The study is intended to pave the way for a more comprehensive assessment of the potential benefit of microinsurance to low-income households in any country, regardless of level of development. The study:
The Code of Professional Conduct is worthwhile revisiting on a regular basis. In this popular repeat session, we will take you through the Code precept by precept, with new scenarios and polling of the audience. Behaving “professionally” is not always a black-and-white exercise – we operate in many gray areas, so it’s good to discuss in a group how these precepts apply in realistic situations. Our new scenarios will include many that may occur in day-to-day work activities. Reviewing/discussing common scenarios can help members understand how precepts apply in certain cases.
CAS is transitioning to once-a-year testing for Exam 6-International to keep in line with current demand. Exam 6I will be next offered during the Oct/Nov 2023 administration. If you have any questions, please contact casexams@casact.org.
We are seeking your help finalizing our exam writing rosters for this sitting, specifically for exams 5, MAS-I and MAS-II. Anyone who volunteers to write this sitting will be eligible to win a $100 Amazon gift card.
Casualty Actuarial Society
Nearly nine in ten CAS members are satisfied with their engagement with the CAS, according to a survey on membership engagement commissioned by the CAS Board of Directors. The 85% satisfaction rate was a 3% increase from a survey of the Member Advisory Panel conducted in February 2020.
Sponsored by the Casualty Actuarial Society and the Society of Actuaries (SOA) Research Institute, the 16th Annual Survey of Emerging Risks Key Findings report provides insights into top concerns among risk managers. This online survey report examined a variety of emerging risks, from economic and environmental to technological, societal and geopolitical.
Key findings include:
The Casualty Actuarial Society is excited to release a new video developed to orient all CAS volunteers, both new and returning, on the CAS Council Structure and Strategic Plan.
The video features CAS Vice President of Marketing and Communications Kim Guerriero, FCAS, and CAS Chief Executive Officer Victor Carter-Bey, DM.
Viewers will gain insights into how each volunteer area fits into the overall volunteer structure, and how the work of volunteers helps to achieve the components of the CAS Strategic Plan.
The Westin Philadelphia
Philadelphia, PA
June 5-6, 2023
Deadline: January 27, 2023
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Thank you for deciding to submit a proposal for the 2023 Seminar on Reinsurance.
The generalized linear model(GLM) is a popular method used in ratemaking. In this session I will address several special topics I experienced in my ratemaking practice:
What are the differences between GLM and multiple linear regression models
How to select rating variables
How to address over-dispersion issues 4) how to detect outliers 5) how to use splines in the models.
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The topic will cover how vehicle has evolved and will evolve including the data generated, captured and transmitted by advanced vehicles. Insurers need to better understand what they insurer and how to manage these evolving risks. Attendees will will be able to witness an accident where advanced technology was in use and what the data and video of the event reflected and how that compared to what the human beings reported about the event.
