What is a Property and Casualty Actuary?

What is a Property and Casualty Actuary?

Actuaries earning CAS credentials work primarily in the property and casualty insurance industry, in areas such as personal lines insurance (e.g., auto, homeowners), commercial lines insurance (e.g., medical malpractice, workers compensation), and reinsurance. CAS members also use their skill sets to analyze emerging risks that are relevant to the public interest, such as climate change, automated vehicles, ridesharing and cyber liability. Outside of the insurance industry, actuaries and their skills are increasingly in-demand and serving in risk management roles at organizations such as Uber, Google, Hertz, Expedia, Tesla and Lowe’s.

CAS members have a broad range of job responsibilities, including pricing, reserving, predictive modeling, strategic and financial planning, risk and capital management, catastrophe modeling, underwriting and marketing, research and teaching, and regulation. No matter their specific function, CAS members serve as critical internal advisors on risk management issues and are key players in working with other disciplines due to their advanced analytical skills, extensive training, thorough knowledge of insurance operations, and high professional standards. Many CAS members have progressed their careers beyond actuarial functions to executive management and C-Suite positions.