I imagine there were threads for this on the AO but I couldn’t find any here thus:
Any thoughts on getting CPCU after FCAS? It seems like it could be useful as a P&C pricing actuary although it’s difficult to find much online that isn’t published by The Institutes, plus the exam+prep doesn’t seem particularly cheap if I’m going to start paying for that stuff out of pocket. I wonder if anyone has thoughts on doing this?
I think everyone I know that has done this had an employer that supported them in terms of materials and incentives. I think it would be more helpful for an early career FCAS that could use more general knowledge. The materials overall are pretty good.
Would not pay out of pocket, but if it’s covered by the employer then 100% do it. It should only take ~10-60 hours per exam - depends on your existing knowledge and personal learning abilities. For an FCAS, 60 would seem pretty extreme.
As far as actual value, I see it as a knowledge-rounder. It’s come somewhat in handy, getting me un-silo’d from the roles I’ve been in.
Yeah I definitely agree with the learn on the job differences. One thought I had though is the signaling benefit. For example I could spend loads of money and go get a masters in statistics which would be great for gaining technical skills, but what’s the value of the signal of being able to say I have a masters when I’m FCAS? Probably very little. To that end I’ve thought of just figuring out a few specific statistics topics I’d like to learn more about (time-series being one that comes to mind) and independently studying that, particularly with the availability of stuff online.
In contrast I think CPCU may have the nice combination of probably not being that hard to get AND might actually have some signaling value where an underwriter/broker who before might have been like :eyeroll: actuary lives in a bubble will instead be more cooperative, etc. and thus be more valuable if all goes to plan and I continue dealing with underwriters/brokers a lot in my career.
In other words, I am not sure how much an UW would actually care if I had a CPCU. I have a few friends who are an FCAS and a CPCU. I don’t think it really brought them any tangible help on the communication front with UWers. But that’s just a couple one off examples.
Yeah it’s tough to say. I do remember being a young analyst in an office full of underwriters and having cake at the office party when one lady got her CPCU so I’m tempted to think underwriters would recognize/be impressed by it.