This past May, several CAS members had the privilege of joining actuaries from around the world as they convened for the International Congress of Actuaries (ICA) in Sydney, Australia. Some actuaries arrived early to participate in the International Actuarial Association (IAA) council and committee meetings that took place the week prior to the ICA. At these IAA meetings, CAS members formally shared information on how our organization is supporting the evolution of the P&C actuarial profession across a variety of issues, and they had the opportunity to connect in person with members of several other actuarial associations from around the world.
Over the course of two weeks, the CAS also hosted informal bilateral meetings with representatives from other actuarial associations around the world, including Australia, Brazil, China, France, Germany, Kenya, Singapore, Taiwan, United Kingdom and Vietnam. These meetings allowed the CAS representatives to deepen relationships with their counterparts in these countries, share their respective priorities and challenges, look for opportunities to collaborate, and offer CAS support and expertise, especially on issues related to P&C insurance.
The ICA hosted 1,500 actuaries from more than 80 countries for three days of in-person and virtual sessions, plus a half-day diversity workshop and an extra fully virtual day at the end. Many of the sessions highlighted how actuaries are increasingly participating in interdisciplinary teams to help tackle some of the world’s biggest issues, like cyber security, artificial intelligence, climate risk, catastrophes and aging infrastructure. There was a significant focus on how actuaries can use data to make a positive impact on society in alignment with “Data for Good,” a media campaign conducted by Australia’s Actuaries Institute. CAS members, including President Roosevelt Mosley and President-Elect Frank Chang, were featured in panel discussions on these topics.
Other ICA sessions displayed how actuarial credentialling systems around the world are evolving, as associations strive to provide their members with foundational data science skills and opportunities to earn micro-credentials or pursue more specialized knowledge tracks.
“These meetings remind us of how much great work is being done in so many places by actuaries,” said Rade Musulin, ACAS, MAAA, CCRMP, who attended both IAA and ICA. Musulin spoke at the ICA opening plenary session called “Professor Tim Flannery and the Serious Business of Climate Change” and a parallel plenary on day three called “Meeting the Climate Risk Challenge — How the Actuarial Profession is Making a Difference.” He was also chair of another ICA session on day one, “Modeling for our Future World.”
For Musulin the most impactful thing he learned at the conferences was that the actuarial profession is global and dynamic. “Having worked all over the world and being active in the IAA, I appreciate the hard work being done in various countries in various stages of development,” he said. “The Sydney meetings were an opportunity to be reminded of that, something one sometimes does not appreciate by reading papers or doing Zoom calls.”
Other CAS members also had high praise for the meetings. CAS Vice President-Administration Mary Hosford, AIM, FCAS, CPCU, MAAA, noted the excellence of the opening and closing keynote sessions. In the opening keynote session, Dame Inga Beale, the former Group CEO at Lloyd’s of London, discussed her experiences as the first woman in that role. The closing session featured two brothers, one an actuary in Australia and the other the CEO of Qantas airlines, who talked about the pandemic, diversity and sustainability. Hosford’s biggest takeaway from the conference was how AI like ChatGPT can improve efficiency.
Margaret Sherwood, FCAS, attended the IAA Town Hall, the Actuarial Standards Committee, the General Insurance Forum, the International Association of Consulting Actuaries Board meeting, the Climate Risk Task Force meeting and several social events. “All the sessions were important for different reasons,” Sherwood said. “My favorite parts of the IAA meeting were the interaction with actuaries in different practice areas from around the world and working with them to make the profession better and solve real-world problems.”
First-time, in-person attendee Wesley Griffith, FCAS, found that the networking was invaluable for tackling problems in his job and CAS volunteer work. “It’s wild how similar the challenges and opportunities are for actuaries around the world,” Griffith said. “While there is nuance to being an actuary in different geographies, we’re all working to solve similar problems of importance to the economy and to society. By working together through the IAA, we can help to move the needle and make progress together.”
In his July-August 2023 President’s Message, Roosevelt Mosley drives home the value of the international actuarial community at the ICA, stressing the importance of learning different perspectives and finding chances to collaborate. “There is a significant opportunity for the CAS to influence the future of P&C work worldwide,” Mosley writes.
The 33rd International Congress of Actuaries will take place in Tokyo in 2026.
