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  #61  
Old 07-17-2019, 10:43 PM
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I agree the FSA-GI has a long way to go before it is held in similar regard as the CAS credential among P&C insurers. The more FSA-GIs there are the more acceptable a FSA will become for P&C work.
Have you looked at the tiny number of people passing the GI Track sittings? And how many years has this track existed? Itís embarrassing.

https://www.soa.org/education/genera...esults-detail/

Itís never going to get critical mass. Iím glad there are niches where someone can make use of it, but itís not going to get off the ground. The SOAs desires donít enter into it. Itís dead.
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  #62  
Old 07-18-2019, 08:42 AM
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I think these candidates chose to pursue this track before knowing FSA-GI track was approved to sign actuarial opinion. Having known it's approved, probably some companies would allow their students to pursue FSAs and more candidates would show up in the pass list. Time will tell.
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Have you looked at the tiny number of people passing the GI Track sittings? And how many years has this track existed? Itís embarrassing.

https://www.soa.org/education/genera...esults-detail/

Itís never going to get critical mass. Iím glad there are niches where someone can make use of it, but itís not going to get off the ground. The SOAs desires donít enter into it. Itís dead.
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  #63  
Old 07-18-2019, 08:52 AM
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I think where the FSA-GI track will get going is in the international market.

I don't think the CAS has as strong of a presence outside of North America as the SOA does.
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  #64  
Old 07-18-2019, 08:39 PM
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I think where the FSA-GI track will get going is in the international market.

I don't think the CAS has as strong of a presence outside of North America as the SOA does.
Where do you see that happening? China and India both have their own credentialing mechanisms. In most other countries, some sort of actuarial degree is acceptable to companies. Also, given Britainís past colonialism, a lot of places are more familiar with not the SOA, and not the CAS, but the IFoA.

I donít really see either of the American societies making it much headway.
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Old 07-19-2019, 09:29 AM
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Where do you see that happening? China and India both have their own credentialing mechanisms. In most other countries, some sort of actuarial degree is acceptable to companies. Also, given Britain’s past colonialism, a lot of places are more familiar with not the SOA, and not the CAS, but the IFoA.

I don’t really see either of the American societies making it much headway.
https://www.soa.org/about/members-by-country/

Only about 1,000 SOA members in China, 35 in India.

https://www.casact.org/education/spr...dout_963_0.pdf

In 2012, the CAA had 2,000 qualified members (of whom 9% were P/C qualified), and I'm having a hard time finding up-to-date membership numbers on their website:
https://www.e-caa.org.cn/
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Old 07-19-2019, 09:39 AM
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Oh, and 1261 members in Hong Kong. Huh. And 467 in Taiwan.
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  #67  
Old 07-19-2019, 09:56 AM
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Where do you see that happening? China and India both have their own credentialing mechanisms. In most other countries, some sort of actuarial degree is acceptable to companies. Also, given Britainís past colonialism, a lot of places are more familiar with not the SOA, and not the CAS, but the IFoA.

I donít really see either of the American societies making it much headway.
Over 15% of the SOA membership is from countries outside the US and Canada. That's a big chunk. If these countries are happy with their actuaries getting life credentials from the SOA, why would they be opposed to their actuaries getting P&C credentials from the SOA?
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  #68  
Old 07-19-2019, 10:50 AM
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Where do you see that happening? China and India both have their own credentialing mechanisms. In most other countries, some sort of actuarial degree is acceptable to companies. Also, given Britainís past colonialism, a lot of places are more familiar with not the SOA, and not the CAS, but the IFoA.

I donít really see either of the American societies making it much headway.
The bolded is where "risk is opportunity".

The lack of any "formal" designation is a wide open market to exploit.

Companies not requiring a professional designation is a minor issue. A marketing point the SOA can take in those markets is that having the designation would make a candidate look stronger (if not actually be stronger) in those local markets.

Plus, having the designation can facilitate immigrating to another country for actuarial work through mutual recognition.
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  #69  
Old 07-19-2019, 01:00 PM
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Oh, and 1261 members in Hong Kong. Huh. And 467 in Taiwan.
Wait, so about 1 out of every 2,500 adults in Hong Kong is a credentialed actuary? What is it, Hartford!?
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  #70  
Old 07-19-2019, 01:04 PM
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The bolded is where "risk is opportunity".

The lack of any "formal" designation is a wide open market to exploit.

Companies not requiring a professional designation is a minor issue. A marketing point the SOA can take in those markets is that having the designation would make a candidate look stronger (if not actually be stronger) in those local markets.

Plus, having the designation can facilitate immigrating to another country for actuarial work through mutual recognition.
The salaries in the vast majorities of those markets are less than in the US, often substantially - not many people are going to go through all those exams, especially given pass rates/lack of support, on their own...plus, by the way, for most folks English is a second language, and where a local language option exists (those Chinese and Indian tracks are both pretty new) it will be more attractive.

I did wonder, after posting, about the cost to either the SOA or the CAS of simply cutting the hell out of exam and seminar charges as a market play. That would make a substantial difference.
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