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  #1  
Old 01-15-2018, 06:56 PM
fastcount fastcount is offline
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Default CAS vs SOA general insurance track

I was at a recent conference where the president of the SOA gave a high level overview of the difference between the two.
SOA - breadth with not as much depth on p/c topics
CAS - breadth along with a deep dive on p/c topics

Would you agree? If not, what do you think are the differences between the two curriculums?

Why am I asking? I've got my FSA with SOA, but I'm thinking about switching to p/c. Would I get more out of doing the SOA general insurance FSA track? Or by getting my ACAS and stopping there? There's no way in hell I'm doing FCAS though, that's just too many more exams.

Is the SOA general insurance track looked down upon by practicing p/c actuaries in insurance/reinsurance/consulting?

Please don't ask me why I'm contemplating this move, that's a discussion for another thread.
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Old 01-15-2018, 07:02 PM
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Yes it's looked down upon. No one has it.
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Old 01-15-2018, 07:23 PM
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If you are serious about moving to PC, you should get ACAS - but don't stop there.
JMO, of course.
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Old 01-15-2018, 07:37 PM
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Originally Posted by lllj View Post
Yes it's looked down upon. No one has it.
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Old 01-15-2018, 07:37 PM
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If you are serious about moving to PC, you should get ACAS - but don't stop there.
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Old 01-15-2018, 07:40 PM
Spice Adams Spice Adams is offline
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FSA GI is a joke. I doubt most employers would value it any more than your current FSA.
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Old 01-15-2018, 07:42 PM
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https://www.soa.org/board-announceme...k-naic-review/

Quote:
The NAIC’s public letter states that the SOA track lacks the “breadth and depth” necessary in its General Insurance pathway for Fellows to automatically meet requirements to be qualified to sign the NAIC Property-Casualty Statement of Actuarial Opinion in the U.S.
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Old 01-15-2018, 07:48 PM
CuriousGeorge CuriousGeorge is offline
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Are you even allowed to go the GI route? I didn't think you could take SOA exams in a second track after you got your FSA.
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Old 01-15-2018, 08:17 PM
fastcount fastcount is offline
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Are you even allowed to go the GI route? I didn't think you could take SOA exams in a second track after you got your FSA.
There's nothing to prevent you from registering from writing more exams.
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Old 01-15-2018, 08:34 PM
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For P&C work:

FCAS >> FSA-GI
ACAS > FSA-GI

...but depending on the circumstances, FSA-other + experience might >= ACAS.

Not having FCAS will put you at a competitive disadvantage career-wise on the P&C side. It is possible to have a good career as a career ACAS, particularly if you bring something else to the table skills/experience-wise, and I've known enough FSA's working in P&C to believe they're in a similar or maybe slightly better position...but they have to explain their background a little more than an FCAS/ACAS.

I would say that the question of whether to go for -GI or for ACAS depends on why you want the credential.

Are you doing it for the practice rights? In the US at least, your FSA plus supervised experience gets you practice rights - no need for more exams.

Are you doing it to get a broader background in P&C general knowledge beyond what you expect to pick up in your first P&C job? The GI exams are probably sufficient to get you a basic understanding, but taking a few CAS exams will do the same and set you up to go for a credential should you decide you want one. (Plus your employer is more likely to reimburse CAS exams and provide on-the-clock study time.)

And, of course, if you want to be as marketable a candidate for future P&C jobs as possible, an ACAS or FCAS is expected.
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