Society of Actuaries and Milliman Collaborate to Develop First Climate Risk Certificate Program

Newest addition to SOA certificate program provides comprehensive professional training in climate risk management and measurement

SCHAUMBURG, Ill. and SEATTLE, October 21, 2022 /PRNewswire/ — The Society of Actuaries (SOA) and Milliman today announced the first certificate program focused on measuring and managing climate risk for actuaries. This climate risk certificate program combines the risk management acumen of actuaries with the interdisciplinary expertise needed to manage the complexity of climate risk.

The Climate Risk Certificate program is designed for actuaries and others working in life, health or general insurance, pensions or finance and investments. Certification requires completion of six out of ten self-paced e-learning courses. Participants also have the option of taking individual courses such as “Climate Risk Fundamentals” as a stand-alone course or as an introduction to the program. This course provides fundamental scientific knowledge as well as an overview of climate risk assessment, mitigation and adoption strategies.

Participants will gain knowledge on the qualitative and quantitative measurement of risks from extreme weather events and hone their ability to communicate information on potential climate impacts. The program will be open for registration in early 2023.

“Climate risk assessment has become a critical business need and societal goal, and actuaries continue to provide research and insights to manage and measure climate risk,” said the SOA CEO. Greg Heidrich. “Through this collaboration with Milliman, this essential certificate program will provide learners with focused training to measure and manage the complex challenges of climate risk.”

The Climate Risk Certificate program will include interdisciplinary curriculum and content led by Milliman experts and a certification process led by the SOA. In-depth subject matter expertise will be actuarial, financial, clinical, technological and scientific in nature. The program will include training with interactive assessments and activities as well as instructor-led virtual office hours.

“Climate risk is complex and interconnected,” said Milliman chairman Ken Mungan, FSA, MAAA. If the extreme weather events of the past few years have taught us anything, it’s that we need a diverse team and broad collaborations to ensure people are prepared and protected. This certification program will help ensure that those who earn this certificate remain at the forefront of managing this ever-changing risk.”

The Climate Risk Certificate is one of SOA’s top education programs that offers hands-on instruction on current topics. Other SOA certificates include Predictive Analytics, International Financial Reporting for Insurers (IFRI), and Ethical and Responsible Use of Predictive Data and Models. Learn more about these certificate programs by visiting soa.org/programs/soa-certificates/

About the Society of Actuaries

With roots dating back to 1889, the Society of Actuaries (SOA) is the largest professional actuarial organization in the world with over 32,000 actuaries as members. Through research and education, the SOA’s mission is to advance actuarial knowledge and enhance the ability of actuaries to provide expert advice and relevant solutions to financial, business and societal challenges. Visit soa.org.

About Milliman

Milliman is one of the world’s largest independent providers of benefits administration, actuarial and related products and services. Founded in 1947, the company has employee benefits, health care, property and casualty insurance, life insurance and financial services consulting firms in major cities around the world. For more information, visit www.milliman.com.

SOURCE Society of Actuaries

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