Milliman, Society of Actuaries Craft Climate Risk Certificate Program

Milliman has joined with the Society of Actuaries (SOA) to develop a certificate program focused on measuring and managing climate risks for actuaries.

The Climate Risk Certificate Program pairs the risk management acumen of actuaries with the interdisciplinary expertise needed to manage the complexity of climate risk, a statement from Milliman and the SOA said.

The Climate Risk Certificate Program is designed for actuaries and others working in the fields of life, health, or general insurance; pensions; or finance and investments. Certification requires completing 6 out of 10 self-paced, online learning courses. Participants also can take individual courses such as "Climate Risk Fundamentals" as standalone courses or as an introduction to the program.

Certificate program participants will gain knowledge on the qualitative and quantitative measurement of risks due to extreme climate events, in addition to improving their ability to communicate insights about potential climate impacts.

The program will include an interdisciplinary curriculum and content led by Milliman experts and a certification process led by the SOA. Subject matter will be actuarial, financial, clinical, technological, and scientific in nature. The program will include training with assessments and interactive activities, along with instructor-led virtual office hours.

"Climate risk is complex and interconnected," Milliman Chairman Ken Mungan said in the statement. "If the extreme weather events of the last few years have taught us anything, it's that we need a diverse team and broad collaborations to make sure people are prepared and protected. This certification program will help ensure that those earning this certificate remain on the forefront of managing this ever-evolving risk."

Enrollment in the Climate Risk Certificate Program will begin in early 2023. More information on the program can be found on the SOA website.