Newss Release 201 15 SHIN RES SEARCH EX XCELLENCE E AWARD WINNERS W AN NNOUNCED GENE EVA, Switzerland, and NE EW YORK, N NY, February y 3, 2015 – The T Geneva A Association and the Interna ational Insurance Society y (IIS) have a announced the winners of o their collabborative insurance researrch program,, the Shin Re esearch Exce ellence Awarrds, which is endowed byy Kyobo Life Insurance Company. The se elected Shin Research Scholars S will p present theirr research du uring the IIS 551th Annual Seminar in th th New Y York, June 14 4 – 17 , attended by 50 00+ senior insurance lead ders from aroound the globe. It will also be pub blished in Th he Geneva Papers P on Rissk and Insura ance as well as in an advvanced online publication n and diistributed by the IIS and The T Geneva Association. The jo oint research program wa as establishe ed to promote e practically oriented, o appplied researc ch in the field d of insu urance and risk managem ment, addresssing topics which w directly y influence bbusiness ope erations. Und der this prrogram, research is comm missioned fro om leading academics a worldwide andd refereed by y a panel of disting guished judges, represen nted by insura ance experts s and industrry scholars. F Following a comprrehensive revview, the IIS Research C Committee se elected the fo ollowing reseearchers to be b recognized d with th he prestigious Shin Research Excelle ence Award: oward Kunrreuther, Jam mes G. Dinan n Professorr, Professor of Operatio ons and Info ormation Ho Management,, Professor of Decision Sciences and a Busines ss Economiccs and Public Policy Co ool, Univers o-Director, Risk R Management and D Decision Prrocesses, Wharton W Scho sity of Pe ennsylvania a Sh hawn Cole, Professor of o Business Administration, Financ ce Unit, Harvvard Busine ess School Howarrd Kunreuthe er has a long g-standing intterest in way ys that societty can betterr manage low w-probability,, high-cconsequence e events relatted to techno ological and natural haza ards. He is a distinguishe ed professor, a Fellow w of the American Association for the Advanceme ent of Science e and a Distiinguished Fe ellow of the Societty for Risk An nalysis. Proff. Kunreuthe r has authored several books, countleess research h articles and d reportss, and has served on a number n of inttergovernmental panels relating r to dissaster risk, re esiliency and d climate W Econo omic Forum and a the Natio onal Academ my of Science e / National e change, including the World Resea arch Council’’s panel on In ncreasing Na ational Resilience to Haz zards and Dissasters. His work is wide ely respeccted by policcy makers, ac cademic pee ers and the in nsurance industry at largee. Prof. Kun nreuther will be b presen nting originall research on n Insuring Ag gainst Extrem me Events: The T Need forr Private-Pub blic Partne erships, as commissioned d by the IIS a and the Geneva Association through the Shin Re esearch progra am. Shawn n Cole is a le eading resea archer in the field of corpo orate and household finaance in emerg ging marketss with a focus on banking, micro-finance, inssurance and the relationship betweenn financial development and ecconomic grow erience in China, India, Indonesia, Soouth Africa and wth. With ex xtensive expe a Vietnam,, couple ed with a bacckground at the t Federal R Reserve Ban nk of New Yo ork, Professoor Cole is rec cognized as the tho ought leaderr in micro-insurance and w will present his h research on Overcom ming Barriers s to MicroInsura ance Adoptio on: Evidence from the Fie eld. Professo or Cole is an affiliate of thhe National Bureau B of Econo omic Researcch, MIT’s Jam meel Povertyy Action Lab, and the Bureau for Ressearch and Economic E Analyssis of Develo opment. He serves s on the e Boston Fed deral Reserv ve's Communnity Developm ment Resea arch Advisoryy Council, an nd has serve ed as an exte ernal advisor to the Gatess Foundation n, and as the chair o of the endow wment manag gement comm mittee of the Telluride As ssociation, a non-profit ed ducational organiization. “We are pleased to o recognize the t outstand ding work of Professor P Ku unreuther andd Professor Cole,” said Anna Maria D’Hulsster, Secreta ary General o of The Genev va Associatio on. “We lookk forward to the contrib butions they will make to the industryy and wider-w world’s underrstanding of tthe role of pu ublic private partne erships in mittigating and managing rissks.” “As a leader in innovation, the insurance industry is an invaluable force for driving change, improving the world by ensuring protection, prosperity, and resiliency,” said Michael J. Morrissey, IIS President and CEO. Our industry’s ability to meet these objectives hinges on ongoing analysis; empirical research typified by the Shin Research program. We congratulate our Research Committee, led by Dr. Joan Lamm Tennant of Guy Carpenter, for identifying the leading scholars in the areas of disaster resiliency and financial inclusion, arguably two of the industry’s - - and society’s- - greatest imperatives. Together with The Geneva Association, we are proud to endorse the intellectual contributions of Prof. Howard Kunreuther and Prof. Shawn Cole, respectively, and look forward to their participation in the IIS Annual Seminar.” On behalf of The Geneva Association, the research partnership is led by Dr. Christophe Courbage, Research Director, Health and Aging – Insurance Economics. Serving on the 2015 Research Committee were: Prof. Martin Eling, Professor and Director, Institute of Insurance Economics, University of St. Gallen; Prof. W. Jean Kwon, Edwin A.G. Manton Endowed Chair Professor in International Insurance and Risk Management, Director, the Center for the Study of Insurance Regulation (CSIR), The School of Risk Management, St. John's University; Lorenzo Savorelli, Head of Research and Development, Generali; Prof. Joan Schmit, American Family Insurance Chair in Risk Management and Insurance, University of Wisconsin-Madison, USA; and Mary Trussell, Partner, KPMG. About International Insurance Society The International Insurance Society (IIS), founded in 1965, is the largest and most prestigious industry organization, with members representing global insurance leaders, international regulatory authorities and worldwide insurance scholars from over 90 countries, providing a synergy that is truly unique. Its mission is to facilitate cross-border exchange of ideas, the development of global personal networks and to initiate practical and original research addressing critical issues facing the industry. The IIS commitment to the advancement of the industry is evidenced by our myriad of activities, built upon an industry-wide network of insurance leaders representing all stakeholders of the industry. The IIS seminar is the must attend annual conference and draws 500+ senior insurance executives, regulators and insurance scholars, representing all parts of the world and all sectors of the industry. Inclusiveness and diversity are distinguishing characteristics of the IIS and function as key drivers that support information exchange and the development of global peer networks that are valued by and contribute to the success of the global insurance industry. An impartial, membership organization built for and by the industry, the IIS serves as the primary global resource for the insurance community. About The Geneva Association The Geneva Association is the leading international insurance think tank for strategically important insurance and risk management issues. It identifies fundamental trends and strategic issues where insurance plays a substantial role or which influence the insurance sector. Through the development of research programmes, regular publications and the organisation of international meetings, The Geneva Association serves as a catalyst for progress in the understanding of risk and insurance matters and acts as an information creator and disseminator. It is the leading voice of the largest insurance groups worldwide in the dialogue with international institutions. Established in 1973, The Geneva Association is a non-profit organisation funded by its members. For more information please visit www.genevaassociation.org For more information on The Geneva Papers on Risk and Insurance—Issues and Practice, please visit http://www.genevaassociation.org/Publications/Geneva_Papers_on_Risk_and_Insurance.aspx For further information please contact: Elisabeth Johansson Director of Media and Communications International Insurance Society Tel.: +1 212 277 5120 Email: [email protected] Anthony Kennaway Head of Communications The Geneva Association Tel.: +41 22 707 66 00 Email: [email protected]