Everybody’s talking about changes in this Actuarial Review.
CAS President Steve Lowe writes about how the CAS is responding to a changing marketplace and offers up a name change for the Society.
Our cover story author, Annmarie Geddes Baribeau, relates how pricing personal automobile insurance has changed since the Great Recession.
Jim Lynch reports on how actuarial research has had a strong impact on the insurance industry, changing it for the better.
In “Explorations,” Don Mango throws out the idea again of actuarial scientists teaming up with engineers.
Wayne Fisher’s “Random Sampler” is an address to new members that lays it out for newly-minted FCAS and ACAS: Prepare for changes.
Even “25 Years Ago in the Actuarial Review” is about change. It highlights the Society’s decision to establish its own office, moving from New York City to Arlington, Virginia. This idea was pretty radical at the time, but it was necessary. The CAS was on the rise and it needed its own infrastructure. It needed to provide more services for its growing membership.
In those 25 years, the CAS office has moved from that original location and recently expanded its current office space for new staff. Back in 1981, you could count the number of CAS staff on one hand. We now have 35 staff members, including an international manager in Hong Kong and the newly created positions of staff actuary and data analyst.
No surprise here, but our vocabulary is also changing. We are learning new meanings to old terms (“Disruption,” anyone?). Breadcrumbs are now digital — and we’re leaving them behind anytime we use our smartphones.
So you can count on change, but it’s not the only thing.
You can also count on the dedicated group of intellectually curious professionals who make up the CAS to adapt to a changing marketplace and, in doing so, make it better.
