ASRM professor Zhiyu (Frank) Quan and PhD student Panyi Dong received the North American Actuarial Journal Annual Prize for the best paper published in 2025. The NAAJ is the scholarly journal of the Society of Actuaries, and this prize is awarded by the journal’s editorial board based on research quality, scientific impact, and societal reach.
Quan and Dong’s paper titled “Improving Business Insurance Loss Models by Leveraging InsurTech Innovation,” combined insurance claims data with information from InsurTech to create a more accurate way of predicting losses.
Their approach identified risk factors that traditional methods often miss, helping improve risk assessment. The study also highlights the value of collaboration between universities and industry partners.
In recognition of their achievement, Quan, Dong, and their co-authors receive a monetary prize and a commemorative plaque. Additionally, “Improving Business Insurance Loss Models by Leveraging InsurTech Innovation” will be available to read online for free for a year.