Chairs and sponsorship agreement
Three Chairs of Excellence for ISFA
MILLIMAN concluded in June 2010 a sponsorship agreement with the Foundation Lyon 1 and the laboratory SAF to create a chair dedicated to "sustainable and actuarial stability of the insurance industry in the long term". This involves taking into account overall risk, in a setting that is of major societal importance, with average and long-term risk and profit indicators. The challenge is thus to assess the impact of systemic risks in the insurance market in general.
BNP Paribas Cardif has financed over 5 years an ambitious project on "Management of modeling" that first aims to strengthen the robustness of the internal models of insurance companies (by understanding the complex relationships between the various risks to which insurers are exposed) and to improve their mathematical modeling. On the other hand, the second objective of this Chair of Excellence is to study the changes in behavior induced by the increased use of internal models.
Generali has funded the chair "Actuarial responsibility: management of natural hazards and climate change" over 4 years. Due to climate change, frequency and severity of natural disasters are increasing. As a consequence, the management of these risks by insurance companies must be reconsidered: new risk measures taking into account the non-stationarity should be studied, for example. Generali supports on this issue the recruitment of experts in climate change.
This 3 chairs are managed by the Fondation Lyon 1