Brazil’s insurance market is experiencing robust growth, driven by the nation’s economic recovery following periods of financial volatility and political challenges. This resurgence has led to an increased demand for actuarial expertise, with the Instituto Brasileiro de Atuária (IBA) now ranked among the top ten largest actuarial associations in the world. As the sector evolves, the CAS has strengthened its collaboration with the IBA, local employers, and universities to ensure that general insurance actuaries are equipped with the expertise needed to meet growing market demands.
On August 28, 2024, the CAS hosted a half-day event focusing on the intersection of property and casualty insurance with pressing issues such as artificial intelligence and climate change. The event, which took place in Rio de Janeiro, attracted over 100 participants, from university students to seasoned professionals, including prominent actuaries in leadership roles across Brazil’s insurance industry. The CAS, in partnership with IBA, facilitated the Pre-Congress event ahead of IBA’s biennial Congress, underscoring its commitment to fostering talent and innovation in the local market.
Throughout the Pre-Congress, CAS Fellow and President Frank Chang along with CAS Fellows Rafael Costa and Nicolás Vega took the stage alongside CAS Affiliates Cristina Mano and Claudia Ribeiro to lead interactive discussions on applications and ethical implications of artificial intelligence; actuarial challenges related to global risks, climate change and sustainability; and participation with CAS initiatives.
Following the event, participants expressed high praise for the content and networking opportunities. One attendee remarked, “This was a great opportunity to share experiences, gain knowledge, and learn about the benefits of having the CAS designations.”
In the weeks after, the CAS saw a noticeable uptick in engagement, with at least six new Brazilian Affiliate members coming on board. Additionally, a CAS-sponsored student case competition launched at the end of August and drew in registrations from 82 students, forming teams from 11 different universities in Brazil. Through the competition, students gain practical actuarial skills while learning about the value of the CAS designations and the wide variety of resources that the CAS offers. The positive responses to these two efforts are indicators of success in addressing the needs of Brazil’s growing actuarial community. The CAS is eager to build on this momentum and deepen its ties in Brazil and increase our community of candidates and members in the years to come.
