SCOR Switzerland organised its Actuarial Awards for the first time this year. The prize consists in sponsoring the thesis of a student from the Swiss Federal Institute of Techology (ETH) in Zurich for three years, under the supervision of Paul Embrechts, Professor of mathematics in the research faculty. The prize-winner will work in close cooperation with actuaries at SCOR Switzerland under Tony Neghaiwi, thus benefitting fully from their experience. This innovative initiative demonstrates the Groupâ€™s desire to support and promote high-quality actuarial research. The prize will be awarded for the first time at the beginning of 2009.
Jean-Luc Besson, SCORâ€™s Chief Risk Officer commented, â€œThese prizes confirm the importance that the SCOR group has placed on the development of actuarial science in Europe for over fifteen years. By awarding actuarial prizes in five European countries, the Group plays a key role in the promotion of young actuaries for the benefit of the insurance and reinsurance industries."
Each year SCOR rewards the best academic papers in the field of actuarial science through its Actuarial Awards. These awards aim to promote actuarial science, to develop and encourage research in this field and to contribute to the improvement of risk knowledge and management. SCORâ€™s Actuarial Awards are distributed in France, UK, Italy and Germany and, for the first time this year, in Switzerland. Today, the SCOR prize is recognized in the insurance and reinsurance industries as a measure of competence. In 2008, the SCOR prize saw a record number of applicants in all the participating countries.
In each country, the juries are made up of academics and insurance, reinsurance and financial professionals. The winning papers are selected using criteria including excellent command of actuarial concepts, high-quality analysis instruments, and subjects that could have a practical application in the world of risk management.