Casualty Actuarial Society Surpasses 7,000 Member Milestone, Indicating Continued Growth Into Emerging Fields, Markets
Leading Actuarial Society Expands as Members Tackle Climate Change, Big Data, Cyber Risk
Arlington, VA–The Casualty Actuarial Society (CAS) reached the 7,000 member milestone this year with its newest class of Fellows and Associates, with membership consisting of 4,942 Fellows, 2,235 Associates, and 20 Affiliate members, for a total of 7,197 active members. From international seminars to regional meetings, CAS fuels continued growth by providing more than 100 continuing education opportunities each year, developing new programs to encourage members to pursue the opportunities created by technological advancements and emerging fields.
Over the past 100 years, CAS has been at the forefront of actuarial innovation in the property and casualty field, supporting the profession as it expands to tackle new and emerging issues such as climate change, automated vehicles, and cyber liability. CAS members are using their capabilities with skills such as predictive modeling to deliver business value in a wide range of areas, including underwriting, pricing, claims management, sales and marketing, and financial forecasting.
Established in 1914, CAS was originally named the Casualty Actuarial and Statistical Society of America. The charter class totaled 97 Fellows – the only classification for members at the time. In 1921, the organization adopted its current name, the Casualty Actuarial Society, and by 1972 CAS had more than 500 members. The 1980s saw membership double, with CAS reaching 1,000 members in 1983. By 1993 membership had doubled again to 2,000. Greater awareness of the profession through consistently high ratings in the Jobs Rated Almanac in the 1990s through the 2000s fed membership growth, as CAS doubled again to 4,000 members in 2005, reached 5,000 in 2010 and 6,000 in 2013, until achieving the 7,000 member mark this year.
“The resources CAS provides continue to drive membership forward, helping actuaries adapt to the changing landscape of risk management. New programs such as The CAS Institute, which will offer a credential in data science and predictive analytics, offer the opportunity to certify specialized knowledge in emerging fields. All of our resources continue to have practical applications on the job, which allows our members to bring even greater value to their organizations,” said CAS President Stephen P. Lowe, FCAS. CAS also continues to expand its membership internationally, launching a new CAS Regional Affiliate, Asia Region Casualty Actuaries (ARECA), which hosted seminars in both Beijing and Singapore in 2015. CAS also co-sponsored a ratemaking seminar in Kuala Lumpur last fall and participated in the 19th Annual Asian Actuarial Conference in Thailand last November. In addition, CAS recently entered into a mutual recognition agreement with Institute of Actuaries of India (IAI). The agreement allows IAI to join the Institute and Faculty of Actuaries in the U.K. and the Actuaries Institute in Australia as organizations with which CAS has established mutual recognition.
“Much of our international growth and recognition is due to our efforts to provide education and research to help our members become leading experts in property and casualty insurance. The resources currently in development will continue this tradition and will be a major driving force for CAS to reach even larger membership milestones in the future,” stated Lowe.
For more information on The CAS Institute, visit TheCASInstitute.org.
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About the Casualty Actuarial Society
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. CAS credentials demonstrate the expertise to identify, analyze and advise on the potential financial impact of risk and uncertainty. Professionals educated by CAS empower business and government to make well-informed strategic, financial and operational decisions.
