Reinsurance is a business that relies on knowledge and expertise.
Science is at the heart of SCOR’s DNA. To understand risks as thoroughly as possible, SCOR is constantly investing in knowledge, monitoring the most recent scientific developments, promoting science, taking part in scientific research and sharing results.
Supporting risk research
Our experts have established partnerships with renowned scientists and academic institutions across the world. Through these collaborations, SCOR is able to benefit from and take part in the most advanced studies in all risk-related areas, including for example obesity, cyber risk and systemic risk.
SCOR’s Life experts work with international research bodies such as the Pierre & Marie Curie University in France (human immunodeficiency virus (HIV) research), the University of Leuven in Belgium and the Max Planck Institute in Germany.
SCOR also finances scientific projects, whether directly or through the SCOR Corporate Foundation for Science. The research concerned covers a broad spectrum of topics relating to risk and risk management, and includes:
- Biometric risks and health (epidemics, Alzheimer’s disease, cardiovascular disease, cancer, HIV, etc.).
- The modeling of natural risks, including involvement in the creation of the Oasis platform to model extreme risks.
- Biodiversity, through the creation of a research chair in conjunction with the French National History Museum to explore the links between human activity and biodiversity.
- Finance and risk management, with two research chairs in France at the Toulouse School of Economics (TSE) and the Paris School of Economics (PSE).
- Industrial risks, for example with the organization in 2020 of a second SCOR Datathon, in collaboration with several top French universities.
We're investing in research and data analytics to better understand biometric risks. By doing so, we're providing impactful insurance solutions that create sustainable value.
Encouraging scientific vocations
SCOR nurtures scientific vocations and careers, notably through awards designed to encourage the best researchers.
Every year since 1996, the SCOR Actuarial Awards have rewarded the work of young actuaries in six different countries.
Also in the actuarial field, the SCOR Foundation finances a two-year training program in Africa to develop actuarial sciences in the region.
SCOR also supports awards in other fields, including:
- Sponsorship since 2013 of a Young European Researcher prize for Alzheimer's disease research. In 2020, the 7th edition of this prize was awarded to Renzo Marcuso of Gothenburg University in Sweden.
- The SCOR-EGRIE award for research into the economics of risk and insurance.
- The annual SCOR PSE Young Researcher Award for work on macroeconomic risk.
SCOR encourages dialogue on the risks faced by insurers and reinsurers, in order to spread its knowledge as widely as possible and help to build more resilient societies.
Each year, the Group produces expert publications, hosts in-person and online training workshops for its clients (SCOR Campus), holds an Annual SCOR conference and organizes conferences linked to the SCOR Corporate Foundation for Science.
SCOR is an active member of the Geneva Association, which brings together around 80 of the world’s top insurance and reinsurance companies to promote research into the economics of risk and insurance. The Group also participates in the CRO Forum, which unites the Chief Risk Officers of the major European (re)insurance companies around transversal issues.
SCOR’s experts publish articles in external journals (e.g. ASTIN Bulletin, Journal of Risks and Insurance, Risques, etc.) and in SCOR’s own publications, including the SCOR Papers collection which is devoted to fundamental research. They are also involved with local and regional professional associations, take part in seminars and teach classes at university level.
To better control both its own risks and those of its clients, the Group has developed a number of initiatives. One ambitious project has culminated in the creation of SCOR’s own internal risk management model. The Group has also notably created an original tool for the assessment of risk interdependence, called ProbEx.
The Group enters into proactive partnerships with InsurTech companies that develop new tools based on the latest digital innovations and the responsible use of Big Data.
SCOR is constantly developing and improving its own modeling tools, for example for natural catastrophes and weather forecasting. Our teams also stand out through their use of cutting-edge techniques such as machine learning and artificial intelligence.