Thursday, February 26, 2015

Actuarial Dis-Organizations

What started as a "yo-momma" joke has escalated into a full out battle for middle earth. At least, that is how it seems as some major actuarial organizations engage in a turf war.

To recap for the general public:
  1. Actuaries are not mythical creatures.  They exist and provide a service to the public through pricing and mitigating financial risks.
  2. Several actuarial organizations help actuaries accomplish that goal. 
    • Some are country specific.
    • Others are international.
    • Others are practice oriented.
  3. Individual actuaries can be, and often are, members of multiple organizations.
  4. Each group has its own concerns, but until recently, they have been more collaborative than combative.  
But things changed.