Edition

GI PD Opportunities Update

By Anthony Cappelletti

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Editor’s Note: SOA in-person events in 2022 are being held in locations where the COVID-19 pandemic is deemed to be under control and government restrictions on travel and public gatherings are no longer in place. Furthermore, in-person events in 2022 may be offered on a hybrid basis in which some or all of the content is offered virtually.

The following is a list of professional development (PD) opportunities offered by the SOA in 2022 that included content relevant to general insurance (GI):

  • “How to Be an Effective Leader Using EQ and AQ” Jan. 13, Webcast
  • “Digital Transformation: Customer Engagement and Data Science” April 12, Webcast
  • “Blockchain and Current & Future Adoption in the Insurance Space” May 4, Webcast
  • “The SOA Asia-Pacific Annual Symposium” June 6–7, Online
  • “Predictive Analytics Seminar” June 9, Online
  • “Pandemics & Paradigm Shifts: ERM in an Intensely Dynamic World” Aug. 31, Webcast
  • “Determining Appropriate Sensitivity Tests” Sept. 9, Webcast
  • “Telematics-based Auto Insurance: Now and Beyond” Oct. 10, Webcast
  • ImpACT Conference, Oct. 24–26, Orlando
  • ImpACT Virtual Conference, Oct. 26-28, Virtual Event
  • InsurTech Webcast Series, Oct. 31, Webcast
  • “Professionalism in Enterprise Risk Management” Nov. 4, Webcast
  • “Deal or No Deal—Professionalism is Nonnegotiable” Nov. 7, Webcast
  • ImpACT Asia and Professionalism Virtual Seminar, Nov. 9, Virtual Event
  • “Bias in Modeling” Nov. 18, Webcast

If you missed a webcast, remember that recordings of past webcasts are available on-demand.

The SOA offers the following GI relevant e-courses for PD:

  • Applications of Statistical Techniques for Professional Development e-Course, and
  • Enterprise Risk Management e-Course.

Additionally, the SOA now offers four certificate programs, all of which are relevant to GI:

  • IFRI Certificate,
  • Predictive Analytics Certificate,
  • Ethical & Responsible Use of Data Certificate, and
  • Climate Risk.

Be sure to have a look at the SOA’s webpage for professional development opportunities. The webpage allows filtering on many levels to facilitate searching for opportunities. It also includes links to past events that may include access to the presentation slide deck.

Reading actuarial papers is a good source of PD. The North American Actuarial Journal often includes papers that are relevant to GI.  GI relevant articles published online in 2022 included:

  • “Pay-As-You-Drive Insurance: Modeling and Implications” by J. Cheng, F.Y. Feng & X. Zeng
  • “Usage-Based Insurance—Impact on Insurers and Potential Implications for InsurTech” by X. Che, A. Liebenberg & J. Xu
  • “Pricing Hurricane Bonds Using a Physically Based Option Pricing Approach” by C. Chang, J. Chang and M. Yu
  • “Collaborative Insurance with Stop-Loss Protection and Team Partitioning” by M. Denuit and C. Robert
  • “Price Subsidies and the Demand for Automobile Insurance” by B. Su and S. Tennyson
  • “Estimating Spillover Effects in Property and Casualty Insurance Consumption” by D. Bujakowski and S. Kamiya
  • “On a Risk Model With Dual Seasonalities” by Y. Miao, K. Sendova and B. Jones
  • “The Economic Impact of Extreme Cyber Risk Scenarios” by M. Erling, M. Elvedi and G. Falco
  • “How Much Telematics Information Do Insurers Need for Claim Classification?” by F. Duval, J.P. Boucher and M. Pigeon
  • “Fitting Censored and Truncated Regression Data Using the Mixture of Experts Models” by T. Fung

The SOA’s digital publication, The Actuary, often includes articles that are relevant to GI.  Recently posted articles that are GI relevant include:

  • “A Retrospective on Digital Disruption” by R. Sood
  • “A Resilient Future” by N. Cantle
  • “Emerging Risks for Saudi Arabia’s Industries” by A. Alzahrani
  • “Protecting Pets” by P. Wright

Reading research papers can be a good source of professional development. Check out the SOA Research Institute for GI relevant research at SOA General Insurance Research, SOA Catastrophe & Climate Research and SOA Risk Management Research.  Recent SOA research relevant to GI that were posted on the SOA website include:

  • “Cyber Risk Modeling Methods and Data Sets: A Systematic Interdisciplinary Literature Review for Actuaries”
  • “Examining Auto Loss Trends through the COVID Pandemic”
  • “A Hydro-EVT Approach to Flood Insurance Pricing”
  • “Avoiding Unfair Bias in Insurance Applications of AI Models”
  • “A Practical Guide for Working with Weather Datasets, Topic #1: The Main Types of Weather Datasets”
  • “Actuarial Weather Extremes Series, Hurricane Ian: September 26-29, 2022”
  • “Actuarial Weather Extremes Series Hurricane Ian 2022: October 3 Follow-Up”

The SOA counts on everyone’s support and ideas to make the most of our continuing education opportunities. If you have any GI specific (or GI relevant) ideas for seminars, meeting sessions, and webcast topics, or would like to write a GI relevant article, please forward them to SOA Staff Fellow Anthony Cappelletti at acappelletti@soa.org.

There are also volunteer opportunities to work on the GI Track exams as an item writer and/or grader. Refer to the SOA website for volunteering—select View Volunteer Opportunities and then select General Insurance Exams Item Writers.

In addition to offerings from the SOA, many GI PD opportunities are expected to be held during the year from other sources. For example, from March to May of this year, the following were offered by other organizations:

  • In June, the Actuaries Institute Australia held the webinar “Virtual Insights - Developing Guidance For Actuaries: AI And Anti-Discrimination In Insurance,” the Canadian Institute of Actuaries held the webcast “Impact of high inflation on P&C insurance,” the Casualty Actuarial Society and the International Association of Actuaries held the CAS/AFIR-ERM/ASTIN Online Colloquium and the Casualty Actuarial Society held the 2022 Virtual Seminar on Reinsurance.
  • In July, the American Academy of Actuaries held the webinar “Correlation Versus Causation: Clarifying the Differences & Implications,” the Casualty Actuarial Society and the Canadian Institute of Actuaries held the virtual 2022 Climate Risk Seminar, the Institute and Faculty of Actuaries held the Inflation Roundtable, and Pinnacle Actuaries held the webinar “Causes of Recent Adverse Development.”
  • In August, the American Academy of Actuaries held the webinar “ASOP Nos. 20 & 36: Proposed Changes,” the Canadian Institute of Actuaries held the webcast “PCFRC: An update on discounting,” the Casualty Actuarial Society held the webinar “Property Pricing When Including Catastrophe Perils,” and Pinnacle Actuaries held the webinar “This Just In: Exploring an Evolving Insurance Landscape in the Post-Pandemic World.”
  • In September, the Actuaries Institute Australia held the webinar “Cyber Risk and the Role of Insurance,” the Canadian Institute of Actuaries held the CAI Appointed Actuary Seminar, and the Casualty Actuarial Society held the webinar “Pet Insurance Market Activity, Trends, and Key Issues.”
  • In October, the American Academy of Actuaries held the webinar “2022 Update to the P/C Risk Transfer Practice Note,” and the Casualty Actuarial Society held the 2022 In Focus Virtual Seminar.
  • In November, the Actuaries Institute Australia held the Data Science Seminar, the Canadian Institute of Actuaries held the webcast “Reinsurance Seminar 2022,” the Casualty Actuarial Society held the webinar “Adapting Climate Models for Flood Risk Decision Making” and the 2022 CAS Annual Meeting, the Institute and Faculty of Actuaries held the GIRO Conference 2022, and Pinnacle Actuaries held the Webinar “State of the Florida Homeowners Market.”
  • In December, the American Academy of Actuaries held the webinar “Seminar on Effective P/C Loss Reserve Opinions,” and the Casualty Actuarial Society held the 2022 CAS Virtual Trunk Show.
  • Every month, the National Association of Insurance Commissioners have a Book Club Call: Casualty Actuarial and Statistical (C) Task Force. These are webinars intended to share knowledge of predictive analytics.  

Statements of fact and opinions expressed herein are those of the individual authors and are not necessarily those of the Society of Actuaries, the editors, or the respective authors’ employers.

Anthony Cappelletti, FSA, FCIA, FCAS, is a staff fellow for the SOA. He can be contacted at acappelletti@soa.org.