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  #11  
Old 10-12-2018, 08:56 PM
Mud Mud is offline
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Quote:
Originally Posted by Parks and RecROOation View Post
Shouldn't you really run that stat by a qualified life actuary?
If someone said a football's shape was a prolate spheroid, I don't feel like I would need to pay a topologist to confirm it. Pretty sure there's sufficient evidence already out there to support that statement.
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  #12  
Old 10-12-2018, 08:57 PM
lookingon1 lookingon1 is offline
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wow only 2 pages on this ever important discussion...where is all the action? do people still use this site??
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  #13  
Old 10-12-2018, 09:09 PM
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Anxiousele Anxiousele is offline
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Originally Posted by lookingon1 View Post
wow only 2 pages on this ever important discussion...where is all the action? do people still use this site??
You're in the wrong thread. Look here: http://www.actuarialoutpost.com/actu...d.php?t=335421
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  #14  
Old 10-12-2018, 09:24 PM
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theBrownsAreComing theBrownsAreComing is offline
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ALL THE CAS PEOPLE ON THIS BOARD BE LIKE

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  #15  
Old 10-13-2018, 12:19 AM
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Maphisto's Sidekick Maphisto's Sidekick is offline
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Originally Posted by IANAE View Post
A lot of jawboning such as evident in the webcast but no clear and unambiguously stated rationale has been provided; the message so far from the Boards seems to be "we all thought about it for a long time and we all think it's just a great idea...because we agreed it is. We'll be sharing more of our thinking with you soon."
The justification for merger seems to be:

1. Joint exams
2. Enough overlap on certain topics of interest to justify coordinate continuing ed programs and training.
3. Recruitment
4. Structure that promotes collaboration of actuaries in both societies in fields/topics of common interest (e.g. risk management)
5. Better able to integrate data science and future, unknown new things in the insurance world due to actuaries straddling the line between data and business.

...which are all points that I can see.

The question that hasn't been answer is "why do we need to merge to work together on this stuff"....except for #1 where the answer seems to be "joint exams shall not be held while we are competitors, and the only way to not be competitors is to merge"...which makes no sense if we're trying to move on from the prior kerfuffle.
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  #16  
Old 10-13-2018, 12:50 AM
hjacjswo hjacjswo is offline
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The CAS leadership seems to be afraid of mainly two things:
1. Data scientists will wipe us out.
2. SOA will eventually absorb the CAS. We might as well merge now when we have some bargaining power.
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  #17  
Old 10-13-2018, 03:17 AM
Veni Vidi Vici Veni Vidi Vici is offline
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Originally Posted by hjacjswo View Post
The CAS leadership seems to be afraid of mainly two things:
1. Data scientists will wipe us out.
2. SOA will eventually absorb the CAS. We might as well merge now when we have some bargaining power.
1 makes no sense. We can cooperate on Data Science education as it is. There's no downside to that for either society.

2 would be understandable if it were clear the CAS Board had competently used that bargaining power. Unfortunately, they were so scared they just folded. If this is the best they can do, we're better off going it alone and maybe we get absorbed some day, because this isn't distinguishable. I mean, consider the practice councils. The SoA recognizes it needs to go that way anyway, right? If they do that now and then absorb the CAS 10 years from now, what's the worst that can happen? I mean, they aren't going to force us to be part of the Pension practice council.

Early exercise can only make sense to capture dividends. I don't see enough dividends.
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  #18  
Old 10-13-2018, 09:45 AM
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Maphisto's Sidekick Maphisto's Sidekick is offline
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Originally Posted by Veni Vidi Vici View Post
1 makes no sense. We can cooperate on Data Science education as it is. There's no downside to that for either society.
1 is also a misstatement of the concern.

Data science is something that should be incorporated into actuarial work.

While there is always the threat that data scientists could compete with actuaries, the rebuttal is that actuaries are uniquely positioned, straddling the data/statistics realm and the business-knowledge realm to shape data science to be relevant to our businesses, directing the efforts of data scientists if not doing their work within our big tents.

That learning from data science and adaptation to the insurance industry would arguably work better if the SOA and CAS worked together, rather than duplicating efforts and competing.

We're still lacking an explanation as to why it isn't sufficient to cooperate, and why it's necessary to merge.
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  #19  
Old 10-13-2018, 12:07 PM
IANAE IANAE is offline
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Originally Posted by Maphisto's Sidekick View Post
We're still lacking an explanation as to why it isn't sufficient to cooperate, and why it's necessary to merge.
This.

CAS Board members own this entire proposal yet seem surprisingly inarticulate on why merging is the only available path right here right now (if ever).

The entire data science feature is a rent-seeking SOA objective, and I consider it a fear-mongering red herring in the proposal that should be ignored by CAS Members as data science serves Actuaries (and others) not the other way around.
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  #20  
Old 10-13-2018, 12:13 PM
alwaysseamus alwaysseamus is offline
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States rights!
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