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American Academy of Actuaries Outlines Continuing Education Requirements for Actuaries: EMB America Provides Strategic Approach to Meet New Educational Standard

San Diego, CA - May 20, 2008

In attempts to produce the most qualified actuaries, the American Academy of Actuaries (AAA) now requires actuaries to complete 24 continuing education credits, the equivalent of 20 hours of educational activity, per calendar year. As a result of this recent development, many companies are struggling to uncover a cost-effective way to provide their actuarial employees the training they need. EMB America today revealed the solution: EMB University.

EMB America, one of the leading property and casualty (P&C) actuarial consulting firms in America, announced today that EMB University, the company's monthly educational Webinars, will help actuaries meet these new requirements. By participating in an EMB University session, actuaries can now earn one credit towards the new continuing education requirements.

EMB University is an industry-leading educational Webinar series that debuted in 2006. 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.

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.

For more information on EMB University, go to http://www.embamerica.com/events/embuniversity.php. To learn more about the continuing education requirements or the American Academy of Actuaries, visit http://actuary.org/qualstandards/qualfaqs.asp#1.

Executive quote

"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, EMB 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 America. "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."

About the company

EMB America is part of the global EMB Group, the world’s leading business and actuarial consultancy firm specializing in P&C insurance. AT EMB, our goal is to provide our customers with sustainable improvement through knowledge transfer. We offer award-winning, innovative software and consulting services, designed to help our clients optimize their business performance.

We currently work with both large and small insurers and reinsurers including 17 of the top 25 U.S. and 15 of the top 25 Canadian P&C companies. With offices across the U.S. and around the globe, we support firms both locally and globally.
Louisa Harbage                    Dan Gaffney
EMB America                    LEWIS PR
+1 858-793-1425                    +1 617-226-8840
louisa.harbage@embamerica.com        embus@lewispr.com

Contact details

Louisa Harbage                               Dan Gaffney
EMB America                                     LEWIS PR
+1 858-793-1425                              +1 617-226-8840
louisa.harbage@embamerica.com        embus@lewispr.com

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