The Institute of Insurance Economics celebrates another year of accomplishments. With the help and support of our partners, we were able to consolidate our position as one of the leading institutions in the fields of insurance economics and risk management worldwide. The cornerstone of our success continues to be the fusion between academic and applied research, complemented by scholastic teaching and executive education.
The Institute of Insurance Economics – as part of the University St. Gallen – was founded 65 years ago as an independent centre of competence for research, education and consulting in the field of insurance economics and risk management. Our focus lies on the engagement in academic and applied research. We continuously work on the latest topics in the field of insurance economics and risk management and, in addition, provide our clients with practical studies, market analyses and expert opinions. In addition, and very importantly, we teach students in our field of expertise and thereby secure new generations of qualified employees and scientists.
2014 was a busy year for our institute. We have published a series of papers in academic journals, continued our teaching and executive education programmes and participated in various conferences around the world, where we presented and discussed our work. At the beginning of September, our institute hosted the annual meeting of the European Group of Risk and Insurance Economists (EGRIE), one of the most important conferences on risk management and Insurance worldwide. Moreover, the annual meeting of the institute took place in the newly built Allianz Auditorium in Munich under the title «Zurück in die Zukunft? Neue Geschäftsmodelle für die Assekuranz» and received a lot of attention from academicians and practitioners alike. During the year the institute has also found a new home, as we moved our headquarters to Tannenstrasse 19.
The core activity at the Institute of Insurance Economics is represented by academic research. Current research topics at the institute evolve around the aspects of regulation efficiency, cyber risk, insurance pricing, liability of insurance pools, customer segmentation and willingness to pay, development of distribution channels and consumer behaviour, as well as aspects regarding the assessment of performance in the insurance industry. We have continued to present the results of our research at conferences and to publish them in internationally peer-reviewed (A and B ranked) journals.
We have also kept a close relationship with insurance practice through our studies and projects. In the past year, we conducted a number of interesting studies for our clients, among others
In 2014, the Institute of Insurance Economics conducted 20 courses and seminars on bachelor, master and Ph.D. level. In total, around 250 students participate in our insurance and risk management related courses each semester. In the field of executive education, more than 150 workshop days – including many intra- and extra-company projects – were completed in 2014. Our events were attended by about 300 executive managers from the financial services industry in 20 countries.
The Institute of Insurance Economics generated revenues of CHF 5.2 million in 2014. The major revenue streams of the institute are projects with practice partners (market research, expert opinions and executive education) and contributions from the «I·VW-Forschungskreis» and the «Gesellschaft zur Förderung des I·VW». Approximately 1.5 % (around 10 % when including the Chair of risk management and Insurance and the Chair of Insurance Management) comes from infrastructure contributions from the University of St. Gallen.
We would like to seize the opportunity to sincerely thank our collaborators for their generous support and trusting cooperation:
For the I·VW-Team: Hato Schmeiser, Martin Eling, Walter Ackermann, Peter Maas