A Primer on Peer-to-Peer Insurance for Practitioners

Peer-to-peer (P2P) insurance is a decentralized network in which participants pool their resources together to compensate those who suffer losses. It is a revival of a centuries-old practice in many ancient societies where members care for each other’s financial needs in the event of misfortune. With the aid of internet technology, P2P insurance is becoming […]

Luyan Sales Data Analysis Project

Sales data provides businesses with valuable information on the profiling of their customers and thus has important implications on business problems, such as the improvement of customer satisfaction, retention rate, and sale efficiency. In this project, a dataset of sales records will be provided by Luyan Pharma, which has not been analyzed and utilized to […]

AXIS Systemic Cyber Threats Project

AXIS Capital is one of the major insurance carriers that provide cyber policies. As the world is becoming more connected than ever, systemic cyber threats pose a great risk to businesses that rely on information technology, as well as to insurers like AXIS, who provide financial protections to those businesses. As an example of systemic […]

Risk Analytics Symposium 2021

Two years ago, the Actuarial Science Club at the University of Illinois at Urbana-Champaign presented the first ever InsureTech symposium organized entirely by actuaries. This year, the Actuarial Science Club joined forces with the Illinois Risk Lab to present our first virtual symposium on March 27, 2021.  The Risk Analytics Symposium 2021: Actuarial Innovations to […]

Fall Recruitment 2020

Every year, the Actuarial Science Club (ASC) hosts one of our largest events called Meet the Firms. Students ranging from freshmen to graduates dressed in professional attire line up at each company’s station with a resume in one hand and a handshake in the other. The sound of well-practiced elevator pitches and engaged conversations echo […]

September 2, 2020 Illinois Risk Lab in SOA Education & Research Section Webcast

Professors Alfred Chong and Runhuan Feng, and our graduate supervisor Linfeng Zhang, speaks at the Education and Research Section Webcast of the Society of Actuaries, on their timely research project hosted in the Illinois Risk Lab: Pandemic Risk Management: Resources Contingency Planning and Allocation. During the COVID-19 pandemic, an extraordinary shortage of medical resources is […]

Actuarial Science and Financial Mathematics Seminar Announcement

The pandemic seems to have caused (or even still causing) disruptive changes in our work, study, and daily lives. However, actuaries should see risk as opportunities! In Summer 2020, the Illinois Risk Lab recruited 17 students, including Actuarial Science, Mathematics, Statistics, Economics, and Engineering majors, to launch a web-baesd tool (https://covidplan.io), to showcase the pandemic […]