Are actuaries going away?

Probably, the profession will not disappear. But it will go through some significant changes in the coming years. The rise of AI is being considered part of the fourth industrial revolution.

What is the difference between SOA and CAS?

SOA vs. CAS: The primary difference is that they each support actuaries in different industries. The CAS provides standards and regulations for actuaries that work in property and casualty (P&C) insurance. The SOA does the same for actuaries that work in life, health, pensions and retirement.

What does the Society of Actuaries do?

The organization’s mission is to “advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business, and societal challenges.”3 The SOA’s vision is for actuaries to be the leading professionals in the measurement and management of risk.

How many actuaries are there in South Africa in 2020?

There are just 1277 qualified actuaries in South Africa.

What makes an associate of the Society of Actuaries?

An Associate of the Society of Actuaries has demonstrated knowledge of the fundamental concepts and techniques for modeling and managing risk. The Associate has also learned the basic methods of applying those concepts and techniques to common problems involving uncertain future events, especially those with financial implications.

How is the Society of Actuaries annuity tool used?

This tool is designed to calculate relatively simple annuity factors for users who are accustomed to making actuarial calculations for defined benefit pension plans in the United States or Canada.

What are the actuarial standards of practice ( asops )?

ASOPs provide guidance on the techniques, applications, procedures, and methods that reflect appropriate actuarial practices in the United States. Click here to view the Actuarial Standards of Practice (ASOPs).

Is the Society of Actuaries monitoring covid-19?

The Society of Actuaries (SOA) is actively monitoring the outbreak of COVID-19 and will keep our members and candidates updated of any changes in our meetings, events and exams. A panelist of experts discussed COVID-19 through the lens of research, education and professional development during the International Town Hall – Asia on June 9.