Actuarial Association 3 rd General Meeting 10/18/2013 2:00 pm – 3:00 pm Sobel Room SOA vs CAS...
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Transcript of Actuarial Association 3 rd General Meeting 10/18/2013 2:00 pm – 3:00 pm Sobel Room SOA vs CAS...
Actuarial Association3rd General Meeting
10/18/20132:00 pm – 3:00 pm Sobel Room
SOA vs CASExcel Workshop (Pivot Tables)
Social Events
VS
Actuaries Consulting Insurance
•Client•Strict deadlines•Billable hours•Group•Overtime
•Company•Set work hours•Seasonal •Rotation•Individual
Comparison
Society of ActuariesSociety of Actuaries
1889: Actuarial Society of America 1909: American Institute of Actuaries 1949: Society of Actuaries
Formation
Largest professional actuarial organization
worldwide Multiple lines of business Committed to Education, Research and the
Actuarial Profession Mission Statement: The SOA, through research
and education, advances actuarial knowledge and improves decision making to benefit society.
General
Life Insurance
Plays central role in modeling and managing company products that provide long-term financial protection
Health Insurance Performs actuarial analysis which provides
information to one or more decision markers in the health care marketplace
Pension Ensures that clients are in compliance with law,
calculating the employer’s liability for the defined benefit pension plan and determining contribution
Lines of Business
Membership
Associate of Society of
Actuaries (ASA)
Associate of Society of
Actuaries (ASA)
Chartered Enterprise Risk Analyst (CERA)
Chartered Enterprise Risk Analyst (CERA)
Fellow of the Society of
Actuaries (FSA)
Fellow of the Society of
Actuaries (FSA)
ASA
FSA
CERA
Salary (Life/Health)
Salary (Pension)
Casualty Actuarial Society
BRIEF HISTORY
F
ounded in 1914
O
riginally called Casualty Actuarial and Statistical Society
F
irst primary involved in workers compensation insurance
E
ventually progressed to property-casualty
B
egan with 97 members
GENERALP
roperty and Casualty
L
iability insurance
G
eneral Insurance system of risk financing to protect
purchaser
G
oal: The advancement of body of knowledge of actuarial science
applied to property, casualty, and similar risk exposures.
LINES OF BUSINESS
P
rivate Passenger Auto
C
ommercial General Liability
M
edical Malpractice
W
orker’s Compensation
I
nnovation
COMPANIES
MEMBERSHIP
Associate of Casualty Actuarial
Society (ACAS)
Chartered Enterprise Risk Analyst (CERA)
Fellow of Casualty Actuarial Society
(FCAS)
EXAM STRUCTURE
EXAM STRUCTURE
EXAM STRUCTURE
SALARY