The only constant we can be sure of is change – and as the world keeps changing, the actuarial profession must evolve too.
 |
Giampaolo Crenca
Chairperson AAE |
|
To this end the AAE is implementing a 3-year strategic plan, which has been approved and adopted by the Board. The plan has been carefully developed, incorporating continuity as well as change, and in broad terms it takes the approach of expanding actuaries’ reach so that they are able to support all kinds of stakeholders with all kinds of risks – including outside the traditional fields.
In effect, the plan sets out a route for the long-discussed journey towards a future global actuary. To do so the AAE has identified education and professionalisation as the fundamental frameworks for progress, as well as other aspects.
The AAE believes that a change of mindset is needed in the actuarial profession, along with a significant expansion of the skills they can access, with a view to being able to apply their professional expertise in support of more industry areas and organisations. On the one hand this also means enhanced technology capabilities in respect of issues such as artificial intelligence, big data and in general the new data processing techniques; on the other, it relates to improved knowledge and approaches to contemporary specialist technical matters including sustainability, value for money, social security, supplementary health private funds, systemic risks and more.
The 3-year strategy is organised into five priority areas, and there are multiple sub-projects attached to each:
As the plan was officially launched in February 2024, there are already committees and groups at work on projects and areas, with the Board involved in all cases. There are also implementation plans for activities which are currently in progress, and some meaningful results are even expected to be available before the end of this year.
As I summed it up in my recent article about the plan in The European Actuary:
“The key takeaway is that AAE has a strategic plan and a timeline for reaching a specific goal, and broadening the actuarial horizon to wider fields. Furthermore the scope of impact of the 3-year strategic plan is not limited to a few individuals, but is intended to affect and benefit all 29,000 actuaries in Europe.”
15 April 2024
This blog is written on a personal title, with the assistance of Yestrans.
Read all the AAE Blogs here!
