A mathematical perspective increases visibility of global risks
24th International Congress on Insurance: Mathematics and Economics

Ulm University

It's the largest international meeting of experts in the fields of actuarial mathematics and actuarial sciences: 508 participants from more than 20 countries, and 344 lectures spread over 5 days and 4 time zones. The congress is being held virtually this week via the four host universities from Germany, Australia, and the USA. These include the University of Illinois at Urbana-Champaign (USA), Pennsylvania State University (USA), the University of New South Wales – Sydney and Ulm University. Ulm University is one of the leading universities in actuarial sciences in Europe, particularly in the field of life and pension insurance.

Despite the fact that the 24th International Congress on Insurance: Mathematics and Economics (IME) had to be organised in a purely virtual form, it is a major global event. In order to make it easier for conference guests around the world to participate, the 84-session programme has been set up for four different time zones. The congress itself focuses on the sizable task of assessing and managing global risks. Developments such as climate change, pandemics, technological disruptions and demographic upheavals require innovative methods and approaches for mathematical risk modelling and management process control. This a benefit not only for the insurance industry, but for humankind as well. Looking at the future from a mathematical perspective helps to assess, evaluate and manage potential risks globally.

As would be expected, the topics being covered at the congress are quite diverse: from environmental and climate catastrophes to new technological trends, such as automated and connected driving or block chain technology and telematics. A central focus is on mathematical and methodological issues in connection with life insurance and pension plans. These include, for instance, AI-supported mortality calculations, recording the effects of longevity on pension plans or general innovative approaches of statistical modelling, prediction and risk management.

Ulm University among the top universities in the world for actuarial sciences

The Institute of Actuarial Sciences at Ulm University, which has made a name for itself worldwide in the research field of life and pension insurance, is currently focusing on the consequences of drastic demographic developments, such as the aging population, for the insurance industry. “It is a great honour for us to co-host this important international conference on actuarial mathematics. It is also proof that our research strength and competence in this field are visible around the world”, says co-host Professor An Chen, head of the Institute of Actuarial Sciences at Ulm University. The excellence of Ulm’s research in actuarial sciences is also confirmed by the result of a recent global ranking published by the University of Nebraska (USA). Ulm University reached an outstanding 2nd place in the category of non-business schools in an international comparison of all universities.

The 24th International Congress on Insurance: Mathematics and Economics is presented by the journal “Insurance: Mathematics and Economics” (IME), the leading international journal for insurance and actuarial sciences. On the occasion of the journal’s 40th anniversary, a special edition was published just in time for the conference, which prominently displays the researchers from Ulm. “As a scientific discipline, actuarial sciences deal with the assessment and management of financial risks. Thus, they also contribute to making problematic developments visible for policymakers” says An Chen.

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Youtube Video "Actuarial Science in Ulm"



 24th IME
Four universities from the USA, Australia and Germany host the 24th International Congress on Insurance: Mathematics and Economics, including Ulm University (Photo collage: 24th IME)
Professor An Chen (upper right) from Ulm University
Professor An Chen (upper right) from Ulm University, co-host of the congress, moderating a digital discussion (Screenshot: Prof An Chen / Uni Ulm)
Prof. Ruodu Wang
Prof Ruodu Wang, professor of actuarial sciences and finance at the University of Waterloo in Canada, during his keynote address (Screenshot: An Chen / Uni Ulm)
"24th International Congress on Insurance: Mathematics and Economics“
More than 500 scientists from more than 20 countries participated in the 24th International Congress on Insurance: Mathematics and Economics, which was held from 5 to 9 July (Screenshot: Prof An Chen / Uni Ulm)