The Certified Specialist in Predictive Analytics (CSPA) Credential

The Certified Specialist in Predictive Analytics (CSPA) Credential


NARRATOR:
In this era of Big Data, insurance companies
are relying more on quantitative professionals
to use their unique skills to help manage risk. In fact, more than four out
of five insurance companies report increased profitability
thanks to evolving analytics and predictive modeling tools – tools that were
created by actuaries and data science professionals. BRIAN: There’s just been
an explosion in the area with many insurance companies
hiring many, many people with predictive
analytic type skills. And I believe that
will just continue to grow. MARK: In fact it’s probably
more important internationally, because a lot of the markets
around the world are emerging. Predictive analytics
can really go a long way to help those markets. NARRATOR: But, this dynamic
field does present challenges. JIM: We’re living in
this very data-rich world where everything we do
is digitally mediated. The insurance industry is going
to need more and more people who are sapient
in core statistics, programming with data,
building and validating models, thinking about
how to shape models based on
business strategic needs and then larger societal needs. CLAUDINE: Companies need talent and they want specialists
in predictive analytics and data science, but it’s
difficult to assess for that. LESLIE: There’s really no
standardized or benchmark manner of measuring the
skill sets needed to work with data analytics in
insurance, particularly. NARRATOR: So the
Casualty Actuarial Society, through The CAS Institute, is offering an innovative
solution for actuaries and other
quantitative professionals. NANCY: We’ve developed a
new credential, the CSPA, which provides a measure
of the knowledge of people who have attained the credential in predictive
analytics and data science. NARRATOR: The pathway to
the Certified Specialist in Predictive
Analytics, or CSPA, credential
includes five assessments. Property-Casualty
Insurance Fundamentals Data Concepts and Visualization Predictive Modeling –
Methods and Techniques A Case Study Project and an Online Course on
Ethics and Professionalism. They certify
mastery of the analytics skills needed to succeed in today’s
evolving insurance environment. BRIAN: It’s giving a
great option to employees that are
currently in the workforce that want to
advance their careers to learn some new skills,
to earn the designation, and to really set
them apart from others. LESLIE: In addition it does
provide networking opportunities within the whole CSPA community, so professionals can
interact with their peers to understand how
the peers are addressing certain challenges
and certain opportunities within the data analytics space. NARRATOR: Backed by the CAS, the credential also ensures the
highest standards of excellence in education and
professionalism. BRIAN: We’re really transporting that great brand
we have in education to a designation in
predictive analytics. CLAUDINE: It’s also
evidence of the skills offered by an institution that
has a great track record in educating and
giving credentials. So you know what you’re getting – I think that’s
important for employers. MARK: It certainly will provide
the professionalism and the standards that
employers will look for when they’re looking to
hire these professionals. NANCY: To continue to be
able to use the credential, one has to meet some continuing
education requirements so you know that their
education is remaining current and also they are subject to
a code of professional conduct. NARRATOR:
A leader in credentialing and professional
education since 1914, the CAS continues to provide
quantitative professionals with the vital tools
and skills they need to tackle
today’s risk challenges. To learn more about the CSPA and other credentials
from The CAS Institute, visit TheCASInstitute.org/credentials.

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