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  #1  
Old 02-13-2013, 04:10 PM
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Mary Pat Campbell
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Default SOA FSA-GI info -- just a place for updates

I'm signed up for the info emails on FSA-GI, and I just got another one.

Most of the info below has been put out there elsewhere, but just putting it in one place for convenience

Quote:
A new path to Fellowship with the Society of Actuaries.


The General Insurance path with the SOA.

Actuaries working in General Insurance, also referred to as Property and Casualty insurance or Non-Life insurance, face issues ranging from the impact of climate change on flood and erosion damage to new developments in automobile technology.

The SOA has made great strides, since their announcement in the spring of 2012, in bringing this new pathway to life. The first exam is scheduled for the fall of 2013 and as a student or junior actuary; the General Insurance pathway to Fellowship with the SOA will open the doors to a highly demanding but greatly rewarding career.

The SOA has hired Anthony Cappelletti, FCIA, FCAS, and Scott Lennox, ASA, FCIA, FCAS, to assist in the development of this new pathway. Cappelletti and Lennox have more than 40 years of combined work experience in property and casualty, pricing, pension consulting and actuarial evidence.

The SOA is partnering with KPMG Canada, a member firm of KPMG International, one of the world's largest professional service organizations, and ACTEX Publications, the industry standard in actuarial study materials, to write, produce and distribute the new textbook for our Fellowship exam on General Insurance Ratemaking and Reserving. The textbook will be authored by KPMG, led by Jacqueline Friedland, FCAS, FCIA, MAAA, with senior actuarial support from Houston Cheng, FCAS, FCIA, and Rachel Dutil, FCAS, FCIA. ACTEX will be coordinating the production and distribution of this new general insurance textbook.


Curriculum Outline:
The outline and post ASA curriculum for the new General Insurance track is as follows:

-Introduction to General Insurance Exam (This exam will not be ready prior to the ---Introduction to Ratemaking and Reserving Exam. This material will not be presumed in the early offerings of that exam.)
-Introduction to Ratemaking and Reserving Exam
-Financial and Regulatory Environment Exam
-Financial Economics Module**
-ERM Module*
-Advanced Topics in General Insurance Exam or ERM Exam
-Applications of Statistical Techniques Module

Candidates will also need to complete the Decision Making and Communication Module (DMAC) and Fellowship Admissions Course (FAC), as with other tracks. *ERM Module may be taken at any time, but should be taken prior to ERM exam. **May be taken before or at the same time as the previous item


Why a General Insurance Track:

The General Insurance track was developed to fulfill the SOA's strategic vision for becoming the leading global provider of actuarial education and to equip our members with the most comprehensive education possible. Some benefits of the new General Insurance track include:

-Meeting the needs of our growing member and candidate base outside the United States and Canada;
-Providing candidates the opportunity to pursue their educational pathway through a single society;
Offering education in the full range of practice areas;
-Equipping actuaries with the skills needed to address the full spectrum of risk management issues across multiple disciplines;
-Becoming a single, global source for the full range of actuarial talent and credentials for employers;
-Allowing candidates more time to make a specialty track decision;
-Providing candidates the opportunity to learn about all practice areas, which will make SOA members more well-rounded in the eyes of potential employers; and
-Aligning our credentials in the same way organizations structure their risk management operations.
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Old 02-13-2013, 04:12 PM
Beach Bum Beach Bum is offline
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Yes!!! More Canadian defectors...wait what. But come on it is comical that allies for up north gladly take the money to support SOA's cause against the CAS.

Can't wait to meet these snakes at a CAS meeting.

Last edited by Beach Bum; 02-13-2013 at 04:23 PM..
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Old 02-13-2013, 04:15 PM
Beach Bum Beach Bum is offline
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It may as well be Canada's P&C track...because it sure ain't USA's.

Unfortunately for them there are very few employers so they continue to seek employment in our country. Maybe they think this will help Canadians get more jobs in P&C here in the states, but must say sorry we already have the talent we need in the CAS.
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Old 02-13-2013, 04:18 PM
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Mary Pat Campbell
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Well, one of the named people in there is trying to be a petition candidate for the CAS Board.

Thread here:
http://www.actuarialoutpost.com/actu...d.php?t=255436
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Old 02-13-2013, 04:23 PM
CuriousGeorge CuriousGeorge is offline
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That seems like a lot of post-ASA exams. How does that line up with other tracks at the SOA?
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Old 02-13-2013, 04:28 PM
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Quote:
Originally Posted by CuriousGeorge View Post
That seems like a lot of post-ASA exams. How does that line up with other tracks at the SOA?
How hard can the "Introduction to General Insurance" exam be?
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Old 02-13-2013, 04:36 PM
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Quote:
Originally Posted by CuriousGeorge View Post
That seems like a lot of post-ASA exams. How does that line up with other tracks at the SOA?
There are 3 exams and 3 modules. Depending on exam length I think that's pretty comparable to the other tracks.
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Old 02-13-2013, 04:40 PM
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Originally Posted by act2106 View Post
There are 3 exams and 3 modules. Depending on exam length I think that's pretty comparable to the other tracks.
I meant 4 exams. The other tracks only have 3.
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Old 02-13-2013, 05:13 PM
Elsaball Elsaball is offline
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I love the irony with the below objective of the program:
Quote:
-Allowing candidates more time to make a specialty track decision;
Now that the prelims are moving further and further apart, it's possible that the SOA's move will force candidates to choose a specialty when they take their first exam!
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Old 02-13-2013, 05:18 PM
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Quote:
Originally Posted by Elsaball View Post
I love the irony with the below objective of the program:


Now that the prelims are moving further and further apart, it's possible that the SOA's move will force candidates to choose a specialty when they take their first exam!
I think it's actually reasonable for candidates to take the CAS modules before taking any of the prelims. IMO, for a somewhat small investment of time and effort (about 1 month each), you receive valuable information about the P&C industry.
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