October 26, 2021
Posted on behalf of Amy S. Brener, PMP, Director, The CAS Institute and Ken Williams, FCAS, MAAA, Staff Actuary, Casualty Actuarial Society
Did you know that the CAS provides educational opportunities in quantitative areas adjacent to the actuarial world? The CAS Institute (iCAS), a subsidiary of CAS, was designed to provide alternative or supplemental credentials in several quantitative areas. This is especially relevant to the academic world because we know that not all actuarial or data science students will pursue an actuarial credential. Indeed, many of these students choose professions in related areas, both within and outside insurance.
Currently iCAS offers three credentials to both actuaries and non-actuaries. The first credential, The Certified Specialist in Predictive Analytics® (CSPA), has been issued to nearly 300 predictive modeling specialists and experts. The credential focuses on insurance and technical knowledge and includes a project to challenge candidates to use what they have learned to address a real-world scenario. CAS candidates and credential actuaries can obtain waivers for some of the requirements based upon CAS examinations. Soon a process whereby some of your students may be able to obtain credit for some requirements based upon their coursework in statistics will be introduced.
Two other credentials are also being offered, both in the area of Catastrophe Risk Management. The first credential, the Certified Specialist in Catastrophe Risk® (CSCR), may be of interest to some of your students. This credential focuses on how catastrophe models work and how they are used by property casualty insurance companies to manage risk. This credential can be earned by studying for and passing four multiple choice exams and completing an online module on professionalism and ethics in the insurance industry. (The third credential – the Certified Catastrophe Risk Management Professional (CCRMP) – is for those with several years of experience in catastrophe risk management.)
If you or any of your students are interested in learning more, please visit our websites at TheCASInstitute.org and CatCredentals.org. In addition, iCAS Director Amy Brener is always happy to answer questions.