Actuarial Association 3 rd General Meeting 10/18/2013 2:00 pm – 3:00 pm Sobel Room SOA vs CAS Excel Workshop (Pivot Tables) Social Events.

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