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View Poll Results: Company support for iCAS CSPA exams
Does not support CSPA exams in any way 1 8.33%
Pays for exam fee (+ source material too maybe) 3 25.00%
Have structured program (exam fee + study hours or pass incentives) 5 41.67%
Up to your manager (case by case, just like paying for work related trainings) 3 25.00%
Voters: 12. You may not vote on this poll

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  #1  
Old 01-17-2019, 01:55 PM
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Default iCAS CSPA company support survey

I would like to gather some DPs regarding iCAS CSAP exams and credential. I think it may not be that valuable to someone who already has experience or related degree, but I think it could be good stepping stone for someone trying to get their foot in the field, especially if company is paying for them. Might have bit more credibility than simply claiming that you learned ML and data science in Coursera watching lessons.

I heard some big companies pay for it, but haven't been able to verify it. I think my company doesn't pay. I would be interested in learning how other companies are doing in regards to this credential.
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Old 01-17-2019, 01:59 PM
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I wonder how many actuarial study programs have been revised for it. I would imagine it is not that common so far.
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Old 01-17-2019, 02:11 PM
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I wonder how many actuarial study programs have been revised for it. I would imagine it is not that common so far.
My guess is that it's usually not specifically incorporated into actuarial program. It could be 1. only open to DS and analytics people 2. open to all employees like how CPCU is supported for all employees at some companies 3. treated more like work-related training and it's up to manager to pay with team's budget
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Old 01-17-2019, 02:48 PM
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I once interviewed at Allstate and they said they support it, and expect it for people in some positions. So there's a big insurer who supports it.

But wasn't Steve Armstrong there recently (or maybe he still works there)? Maybe I'm totally off on this but I think he had a big part in developing the program, so it would make sense that Allstate would be on board. This is all pieced together from a bunch of stuff floating in my head so maybe I'm way off the rails.
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Old 01-17-2019, 02:53 PM
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We don't have anything formal around it, but I think if my employee made a strong case for how it would help the company if they learned that stuff, I could probably get approval to fund it like other external training.
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Old 01-17-2019, 02:54 PM
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Originally Posted by yerromnitsuj View Post
I once interviewed at Allstate and they said they support it, and expect it for people in some positions. So there's a big insurer who supports it.

But wasn't Steve Armstrong there recently (or maybe he still works there)? Maybe I'm totally off on this but I think he had a big part in developing the program, so it would make sense that Allstate would be on board. This is all pieced together from a bunch of stuff floating in my head so maybe I'm way off the rails.
I think he still is. That makes sense. I also heard Munich Re, Swiss Re, and Gen Re support them but wasn't able to verify the source or learn what kind of support they get.
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Old 01-17-2019, 02:57 PM
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I would imagine that most major insurance companies will support it, especially given the direction of Big Data in insurance pricing.

Note that you get a waiver for CSPA Exam 1 (P&C Insurance Fundamentals) if you have credit for CAS Exam 5, OC 1, and OC 2.

You further get a waiver for the CSPA Ethics & Professionalism if you have credit for CAS CoP.
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Old 01-17-2019, 03:07 PM
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I would imagine that most major insurance companies will support it, especially given the direction of Big Data in insurance pricing.

Note that you get a waiver for CSPA Exam 1 (P&C Insurance Fundamentals) if you have credit for CAS Exam 5, OC 1, and OC 2.

You further get a waiver for the CSPA Ethics & Professionalism if you have credit for CAS CoP.
Hopefully that's the case, but I'm worried that some insurance companies might just prefer to hire people with masters or Ph.D instead. That could turn out to be cheaper for them. (and this is how Progressive has been doing I guess?)
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Old 01-17-2019, 03:43 PM
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Hopefully that's the case, but I'm worried that some insurance companies might just prefer to hire people with masters or Ph.D instead. That could turn out to be cheaper for them. (and this is how Progressive has been doing I guess?)
It's not because it is cheaper for them - it's because the candidates may actually have a rigorous training in probability and statistics.
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Old 01-17-2019, 03:49 PM
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The CSPA is generally designed to supplement those with a MS or PhD in Stats in understanding the uniqueness of working with insurance data (vs. other data).

It is also a bridge for those with ACAS/FCAS to better understand--and have practical experience!--data science techniques.

I would imagine that those with the MS or PhD would find the 3rd CSPA Exam to be easy to prep for and that the hands-on project to be highly beneficial.
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