Setting Goals for the CAS to
Achieve by 2014
Long Range Planning Committee
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Outline for Today’s Discussion

The need for goals

Why 2014?

Don’t we already have a strategic plan?

Characteristics of useful goals

Steps in establishing goals

How you can help
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Why Set Goals?

Without goals, organizations lack direction
and a sense of purpose

Goals serve to motivate members

Goals help in setting priorities and budgeting

Goals help answer such questions as:
- Where are we going?
- How do we know when we have arrived?
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Why 2014?
The CAS will be 100 years old.
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Don’t We Have a Plan?
YES!
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CAS Mission Statement
The purposes of the CAS are to:
Advance
the body of knowledge of actuarial science
applied to property, casualty, and similar business
and financial risks,
Establish
and maintain standards of qualification for
membership,
Promote
and maintain high standards of conduct
and competence for the members, and
Increase
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the awareness of actuarial science.
CAS Vision Statement
The vision of the CAS is to be the pre-eminent
resource for education, knowledge, experience
and applied research for those actuaries
specialize in property, casualty, and similar
business and financial risks, including the field
known as general insurance.
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Additional Aspects of Current Strategic Plan
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
Definition of casualty actuary

Guiding principles
- Geographic scope

Critical success factors

Strategic directions
Shortcomings of the Strategic Plan

This plan does not set benchmarks
- How do we know if we are “the pre-eminent
resource”?

There is no specific time frame
- When do we want to be the “pre-eminent
resource”?
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Goals Should Be:
Significant
Achieving this goal will mean something
Attainable
The goal is not completely out of reach,
although it should stretch your abilities
Measurable
There will be no question about whether or not
the goal has been met
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Planning Horizons
Based on Tecker Consultants

Core Ideology
- Core purpose
- A concise statement of the organization’s reason for being
- Core values
- Essential and enduring tenets of the organization

10-30 Years: Envisioned Future
- Big audacious goals
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
5-10 Years: Critical Factors

3-5 Years: Strategic Planning

1-2 Years: Action Planning
How You Can Help

Planning must involve all levels of
the organization

Membership input is critical

First steps
- Core ideology and values
- Big audacious goals
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Core Ideology Examples
From CAS Leadership Meeting March 2002

Core Purpose
- To define and enhance the value of the casualty actuary
- To educate the actuary of today and the future
- To improve society’s understanding, acceptance, measurement and management of the risks
inherent in life

Core Values
- Professionalism
- Volunteerism
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Sense of community
Pursuit of knowledge
Proposed Core Purpose
“The core purpose is the reason for being”
Developed by the LRPC 8/02
The CAS creates an environment in which
current and prospective members may
strengthen their ability to effectively apply
casualty actuarial science to the assessment,
quantification and management of risk in
accordance with the highest professional and
ethical standards.
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Proposed Core Values
“The core values are the essential and enduring principles that guide
the CAS”
Developed by the LRPC 8/02
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
Learning

Innovation

Community

Volunteerism

Professionalism
Discussion of Big Audacious Goal for 2014
“A big audacious goal is a clear
and compelling catalyst that
serves as a focal point for
effort”
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Big Audacious Goal Examples
From CAS Leadership Meeting March 2002

Eighty percent of our members will volunteer in the Society

There will be 15,000 employed CAS members by 2014, with
job descriptions ranging from CEO, CFO, CRO and FE

The CAS will provide credentialing for actuaries in 25
countries

The CAS will give exams in 15 languages
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Alternative Big Audacious Goals
Developed by the LRPC 8/02
1.
The casualty actuary will be globally recognized as an
essential resource for casualty actuarial science.
2.
Building on the quantitative skills acquired in the course
of becoming a casualty actuary, the casualty actuary will
be viewed as a prime candidate for senior risk
management positions.
3.
The casualty actuary will be recognized globally as an
architect of financial security.
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What’s Next
The LRPC will
 Develop more detailed input on these
BAG’s for the Board
You can
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
Participate in the LRPC Online
Planning Process

Read the LRPC report, scheduled for
early 2003

React, comment, participate