The results of four major global insurance research projects led by faculty from Drake University’s School of Actuarial Science and Risk Management were published in prestigious academic journals during the first half of 2021. The papers, which covered topics ranging from the general insurance trends in China, one of the largest insurance markets in the world, to the development of insurance markets in post-communist countries in Europe, reflect the increasingly essential social and economic role the insurance sector plays by covering personal and business risks.

“Our recent research achievements point to Drake’s leadership position as a Society of Actuaries’ Center of Actuarial Excellence,” said Alejandro Hernandez, dean of the College of Business and Public Administration, which is home to Drake’s actuarial science program. “They also point to the many changes taking place in the burgeoning insurance sector in response to existential threats such as the pandemic and climate change as well as a number of regulatory trends that are impacting customers and communities around the world.”

The four publications include:

  • “China’s Non-life Insurance Market: New Insights from the China Insurance Yearbook” authored by Doug Bujakowski (of Drake University) and published in Risk Management and Insurance Review
  • “Economic Transition and Insurance Market Development: Evidence from Post-Communist European Countries” authored by Patricia Born (of Florida State University) and Doug Bujakowski (of Drake University), and published in The Geneva Risk and Insurance Review
  • “Precise large deviations of aggregate claims with arbitrary dependence between claim sizes and waiting times” authored by Yiqing Chen, Toby White (both of Drake University), and K.C. Yuen (of the University of Hong Kong), and published in Insurance: Mathematics and Economics
  • The Changing of the Guard (from LIBOR to SOFR) and How Both Insurers and Regulators are Responding” authored by Toby White (of Drake University) and published in Journal of Insurance Regulation