CAS Commemorates Centennial with Historic Annual Meeting in New York City

Arlington, VA – Big data’s impact on the insurance industry, the future of autonomous vehicles, and emerging cyber risks are among the issues to be addressed during the historic Centennial Celebration and Annual Meeting of the Casualty Actuarial Society (CAS), scheduled for November 9-12, 2014 at the Hilton Midtown New York.

The Casualty Actuarial and Statistical Society held its first meeting in New York City in 1914, with 97 charter members as Fellows. Now 100 years later with more than 6,500 members, the Casualty Actuarial Society is back in New York to celebrate its first century and explore the challenges and opportunities that face it in the next.

Consistent with the theme of the CAS Centennial Celebration and Annual Meeting, “Celebrating our Past, Focused on the Future,” the educational program will feature sessions that provide a historical perspective or a look to the future of the actuarial profession and the property/casualty insurance industry.

Four general sessions headline the program:

“Future of the Insurance Industry — the Next 100 Years” will explore the future of managing risk through insurance and other vehicles. The panel of high-level executives and analysts will focus on how the insurance industry has changed over time and what to expect in the future. Panelists include: William R. Berkley, Chairman and CEO, W. R. Berkley Corporation; Vincent J. Dowling Jr., Managing Member, Dowling & Partners Securities, LLC; and Brian Duperreault, Chief Executive Officer, Hamilton Insurance Group.

“Big Data — What It is and What It Means for the Insurance Industry” will focus on the strategic aspects of big data: current uses in insurance and beyond, promising future applications and ideas for product innovation.

“History of Property-Casualty Actuarial Work—Ratemaking (1914-2114)” will describe the role that CAS pioneers played in developing solutions to the paramount issues of the first 100 years, and then conclude with a discussion of long-term emergent issues, including global warming; new technologies, such as autonomous and flying automobiles; and the possibility of insurance becoming federally regulated.

“Reserving for the Next 100 Years — Thinking Outside the Triangle” will speculate on what the actuarial profession would do today if actuaries had never before estimated reserves and faced a blank sheet of paper. The panel will consider ideas from areas such as finance and the social sciences and draw conclusions about latent variables that are not directly observable, which may help actuaries incorporate market cycles.

Planned concurrent sessions include:

  • “How to Think Like a Futurist,” with featured keynote speaker Jack Uldrich, renowned global futurist and award-winning author.
  • Outlook for the P/C Industry, with noted insurance industry economist Dr. Robert Hartwig of the Insurance Information Institute.
  • Automobile Enhancements in Safety and Autonomy with expert Kim Hazelbaker from the Highway Loss Data Institute (HLDI) and members of the CAS Automated Vehicles Task Force.
  • “Demographic Trends and the Impact on P/C Insurance.”
  • A presentation by leading coastal and oceanic experts of the National Oceanic & Atmospheric Administration (NOAA).
  • A look at trends in international and U.S. reinsurance markets.
  • A discussion around recent developments in the Affordable Care Act and the implications for medical professional and workers’ compensation insurance.
  • Presentations on homeowners and auto insurance telematics.
  • “A Risk Like No Other: What Every Actuary Should Know About Cyber Threats.”

The history of the CAS will be on full display at the meeting, as the organization celebrates 100 years with a CAS Museum, historical photo gallery, wall of names displaying every member who has ever earned CAS credentials, and the debut of the CAS Centennial video. These will complement the history of the organization that is being told on the CAS Centennial Website, which features an interactive timeline that displays milestones from 100 years of the CAS and its impact on the property/casualty insurance industry. The CAS has also created a condensed timeline infographic, which is available for download.

The meeting culminates with a gala dinner, where the 2,000 registered attendees will be entertained by a musical performance by actuaries, who will comprise both the orchestra and the chorus.

Members of the press are welcome to attend the meeting and are asked to register in advance with Kate Niswander, CAS Marketing and Communications Manager, at (703) 276-3100 or kniswander@casact.org. Complete details on the meeting can be found on the CAS Centennial Web Site.

Currently celebrating its 100th year, the Casualty Actuarial Society fulfills its mission to advance actuarial science through a singular focus on research and education for property/casualty actuarial practice. Among its 6,500 members are experts in property-casualty insurance, reinsurance, finance, risk management and enterprise risk management.

Contact: Kate Niswander
Phone: 703-276-3100
Email: kniswander@casact.org