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 […]

August 25, 2020 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 (, to showcase the pandemic […]

August 16, 2020 Zhiyu (Frank) Quan Joining Illinois Actuarial Science

Professor Zhiyu (Frank) Quan joins the Actuarial Science program at the University of Illinois! Before joining Illinois, he worked for a cutting-edge Insurtech company as an R&D data scientist developing data-driven solutions to major insurance companies. He holds a Ph.D. in Actuarial Science from the University of Connecticut. He has a broad spectrum of research […]

August 5, 2020 The Wait is Over! Research Projects in Fall 2020

The Illinois Risk Lab are delighted to announce that six projects in Fall 2020 are now calling for applications. Using Text Mining and Natural Language Processing (NLP) to Extract Actuarial-Related Information from Online Customer Reviews for Businesses Maintenance and Development Implied Value-at-Risk: Model-Free and Forward-Looking Risk Estimates for the US Banks AI-Powered Lifecycle Financial […]

July 22, 2020 Illinois Actuarial Science Receiving 2020 CAS University Award

The University of Illinois at Urbana-Champaign is one of four recipients of the 2020 CAS University Award from the Casualty Actuarial Society (CAS). The annual award program celebrates and honors universities committed to fostering the development of the next generation of property and casualty actuaries. This is the second time Illinois has been recognized with […]

July 17, 2020 Illinois Risk Lab Launching COVIDPLAN

An Illinois Risk Lab summer research team has launched a web-based tool for contingency planning and allocation of critical medical resources for COVID-19 in North America. This work takes an actuarial approach to forecast demand and supply for critical medical resources, develop optimal stockpiling and allocation strategies to minimize the economic impact of demand-supply imbalance. […]