American Academy of Actuaries Outlines Continuing Education Requirements for Actuaries

San Diego, CA - May 20, 2008 - In order to ensure the quality of practicing actuaries, the American Academy of Actuaries (AAA) now requires actuaries to complete 30 hours of continuing education per calendar year, up from the 24 hours every 2 years that they required previously. As a result of this recent development, many companies are struggling to find a cost-effective way to provide their actuarial employees with the training they need. EMB today revealed the solution: EMB University.

EMB, the world's leading property and casualty (P&C) actuarial and business consulting firm, announced today that EMB University, the company's U.S.-based monthly educational Webinars, will help actuaries meet these new requirements. By participating in an EMB University session, actuaries can now earn one credit toward the new continuing education requirements.

EMB University is an industry-leading educational Webinar series that debuted in 2005. The monthly sessions cover hot topics in the P&C industry, allowing actuaries to explore theoretical and practical solutions for improving insurance pricing, reserving, enterprise risk management (ERM), and modeling methods.

Examples of recent and upcoming EMB University topics include:

• Adjusting ERM Models for Major Changes, January 2008: How a company should modify its ERM model to help it adapt to changes in potential risks.
• Avoiding Common Predictive Modeling Pitfalls, May 20, 2008: How a company can avoid the mistakes frequently made when building predictive models.
• Bridging the Gap between Pricing and Marketing, June 24, 2008: How companies are moving toward using predictive modeling for marketing applications.
• Addressing Regulatory Compliance Issues, July 22, 2008: How companies are reacting to the pressures of regulatory restrictions to apply current analysis tools to address unique situations.

"Advances in pricing and modeling strategies contribute to an environment in our industry where continuing education is not only helpful – but necessary," said Tom Hettinger, Managing Director for EMB in North America. "EMB fully supports the continuing education requirements set forth by the American Academy of Actuaries, and we're proud to provide a way to help actuaries refine their craft."

"Organizations often struggle to find relevant, cost-effective ways for their actuaries to meet continuing education requirements," added Alice Gannon, Senior Consultant at EMB. "EMB University sessions provide a convenient way for actuaries to fulfill these requirements and learn about new developments and strategies, all without breaking the bank."

Qualified actuaries can select the sessions they believe will be most useful for their own development, and join free of charge. In order to include the sessions as part of their continuing education requirements, actuaries simply document their participation and confirm that the session is relevant to their line of work.

Get more information on EMB University or learn more about the continuing education requirements and the American Academy of Actuaries.

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About EMB
EMB is the world's leading business and actuarial consultancy firm specializing in property and casualty (P&C) insurance. We provide award-winning, innovative software and consulting services designed to help our clients optimize their business performance, providing sustainable improvement through knowledge transfer.

At EMB, we support both large and small insurers and reinsurers. EMB in North America works with 19 of the top 25 U.S. P&C companies, while the global organization supports 28 of the world’s top 30 P&C companies. With offices across the U.S. and around the globe, we support firms both locally and globally. 

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