Link: https://www.selbyjennings.com/blog/2022/02/insurance-industry-outlook
Excerpt:
In health insurance, with the continual spike in Medicare, we forecast a huge shift towards this area and Medicaid in 2022, and beyond. With the way that the market has evolved, it’s possible that actuaries with experience in Medicare will be in-demand, especially as bid season is fast approaching. Alongside proficiency in risk adjustment, the Society of Actuaries (SOA) recently added a new exam for predictive analytics.
As always, for the property & casualty sector, the key modelling skillsets going into 2022 is R and Python. With the rise in cyber and ransomware attacks, this might result in a boom in cyber insurance and simultaneously the specialists, minimum of 2-3 years in underwriting, to better service this demand. In addition to fluency in modelling, designations from Associates of the Casualty Actuary Society (ACAS) and Fellowship of the Casualty Actuary Society (FCAS), has importance to employers and therefore significant currency in the market.
Publication Date: July 2022
Publication Site: Selby Jennings