The Casualty Actuarial Society (CAS) has announced that Worcester Polytechnic Institute has qualified for Bronze Tier within the CAS University Recognition Program. This program recognizes academic institutions with a demonstrated commitment to preparing property and casualty actuaries through their educational offerings. The CAS is the world’s only actuarial organization focused exclusively on property and casualty risks, serving over 10,000 members worldwide. CAS members work for insurance companies, educational institutions, state insurance departments, federal government agencies, independent consulting firms, and many other organizations that require management of risk.
The CAS offers three levels of recognition for universities, Bronze, Silver, and Gold. Benefits offered through this program are designed to address the specific needs of universities depending on their established tier.
The Actuarial Program in the Department of Mathematical Sciences at Worcester Polytechnic Institute provides a tight-knit, collaborative community of approximately 50 students and two full-time dedicated faculty, Professors Jon Abraham and Barry Posterro. Courses are kept relevant to the syllabi of both the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). The Actuarial Program was recognized by the SOA in 2019 with UCAP status for its relevance to the SOA program of study.
Many students graduate with two or more exams, VEE credit, and sometimes more. The program’s strong working relationship with both the SOA and the CAS provides our students with professional resources like candidate updates, access to mentor programs, and focused job and internship announcements. Within WPI, the Actuarial Club, participation in Actuarial Case Competitions with other university programs, and a dedicated Actuarial Job Fair have further established the foundation of a wide and diverse professional network.
Criteria that Worcester Polytechnic Institute met to achieve this Bronze level award from the CAS include the introduction of new courses that cover exciting and relevant topics related to the field of Property and Casualty Insurance, participation in the CAS Academic Central, and having faculty with CAS credentials. In particular, our recent course offerings encompass introductory ratemaking for P&C companies, as well as reserving techniques specific to the P&C field.
“We are pleased to honor universities through the CAS University Recognition Program,” said Victor Carter-Bey, DM, CEO of the Casualty actuarial Society. “Recognition at the Bronze Tier demonstrates that Worcester Polytechnic Institute is committed to exposing their students to the property and casualty actuarial career path through their participation in the CAS University Liaison, Student Central, Student Ambassador, and Academic Central Programs.”