Department of Risk and Insurance
Industry-leading research, career-transforming applied learning experiences
In the Risk and Insurance Department, we are determined to provide students with rigorous academic experiences that prepare them for success after they graduate. We support our students with an innovative approach to education, which includes applied learning seminars and projects, leadership opportunities, and a variety of supplemental learning experiences. As a result, our students go on to become innovators, leaders, and changemakers in the risk and insurance industry.
Since 1938, we have contributed to the insurance field by conducting relevant, cutting-edge research, and by building bridges with industry through our alumni, professional development courses, and corporate research.
Our globally recognized faculty conduct innovative research in:
- Predictive modeling
- Health care analytics
- Insurance regulations
- Behavioral economics
- Financial management of insurance
- Corporate risk management
- Financial management of insurance organizations
- Statistical methods development
Featured publications
Yang, L., Shi, P., & Huang, S.
(2024).
A copula model for marked point process with a terminal event: an application in dynamic prediction of insurance claims.
Annals of Applied Statistics
(18), 2679-2704.
Okumura, K., Liang, A., Lu, J., & Mu, X.
(2024).
Algorithm Design: A Fairness-Accuracy Frontier.
Journal of Political Economy
Rosenberg, M., Yun, S., & Kim, K.
(2024).
Assessing Oral Health in US Children and Its Impact on Disparities of Overall Health and Health Expenditures: An Application Using Two-Stage Clustering.
North American Actuarial Journal
(28), 909-924.
Editor positions
Daniel Bauer
- Annals of Actuarial Science, Associate Editor
- Insurance: Mathematics and Economics, Associate Editor
- North American Actuarial Journal, Editor
Joan Schmit
- Journal of Risk and Insurance, Editor
Peng Shi
- Annals of Actuarial Science, Associate Editor
- Insurance: Mathematics and Economics, Associate Editor
- North American Actuarial Journal, Editor
Research seminars
October 9, 2026
Reallocating Disaster Relief Payments
Presenter: Tim Philippi, University of Wisconsin-Madison
October 2, 2026
Flood parametric insurance design and practice with AI and satellite data: experiments from the lab and stories from the market with Floodbase
Presenter: Beth Tellman, UW-Madison
September 18, 2026
Learning How to Borrow in a Fintech World: Consumer Behavior When Search Costs Are (Near) Zero
Presenter: Camelia Kuhnen, The University of North Carolina at Chapel Hill
Degrees and certificates we support
Undergraduate (BBA)
Our faculty in this top-ranked program will give you a competitive edge in strategic risk management, decision-making, business analytics, actuarial science, and insurance.
Capstone Certificate in Actuarial Science
In this accelerated program, risk and insurance faculty will give you the expertise to quantify risk for insurance companies, consulting firms, or other organizations.
Full-Time MBA
Our faculty bring their latest research into the risk management and insurance career pathway. They provide an applied curriculum and prepare students for leadership roles.
PhD in Insurance Economics and Actuarial Analytics
Conduct thought-leading research while working side by side with our globally recognized Risk and Insurance Department faculty, as you prepare for a rewarding research and teaching career.
PhD in Insurance (Business) & Economics—Joint Degree
The Insurance Economics and Actuarial Analytics (Business) and Economics joint degree trains researchers for tenure-track positions at the nexus of insurance and economics.
Beyond degrees
As part of its comprehensive educational mission, the Risk and Insurance Department offers innovative learning initiatives, opportunities for companies to engage with us, and enriching resources.
Opportunities for corporate partners
We’re eager to help companies develop in-house expertise, hire our talented students, and benefit from valuable partnerships.
Actuarial science career resources for high school students
Learn more about the actuarial science profession via our events and presentations, and get details about our scholarship program.
Center of Actuarial Excellence: Promoting analytics research
Our designation as a Center of Actuarial Excellence from the Society of Actuaries stems from our cutting-edge insurance analytics research.
News & events
News
Get valuable news about our research, innovative learning, and academic achievements.
Events
Our department events bring together our inspired community of faculty, scholars, and industry partners to share and create transformational knowledge in the field.
Contact us
If you have questions or need additional information about the Risk and Insurance Department, we’re eager to help you out.