The Institute of Insurance Economics – one of the 40 independent institutes at the University St.Gallen – was founded 67 years ago as a center of competence for research, education and consulting in the field of insurance economics and risk management. Our purpose is to deliver high quality academic and applied research in the fields of insurance economics and risk management and distribute it with the help of our teaching activities. In addition to our core research activity, we publish studies which are written in collaboration with our partners from the insurance industry, we undertake market analyses and provide expert opinions on topics which are related to our research interests. The institute is also involved in teaching activities at the university and provides several courses aimed at practitioners from the insurance industry.
During 2016 we have published a series of papers in peer-reviewed academic journals, continued our teaching and executive education programs and presented our work during international conferences. The institute also organized its traditional annual meeting, where practitioners and members of the academic world gathered to discuss the direction and future trends of the insurance industry. In addition, we provided five additional conferences (so called Future.Talks) were we focused on topics like new insurance markets, the insurability of cyber risk, customer value, and the future of life insurance).
The core activity at the Institute of Insurance Economics remains the academic research. Current topics at the institute comprise aspects of regulation in the insurance industry, optimal guaranty levels in life insurance and product innovations, insurability of cyber risk, the development of the insuretech market, liability regimes of insurance pools, insurance-linked securities, customer journey in the insurance industry, as well as aspects regarding the assessment of performance in the insurance industry and the impact of digitalization (including digital monitoring). We have continued to present the results of our research at conferences and to publish them in international peer-reviewed (A and B ranked) journals. In 2016, research papers of members of the I·VW had been published or had been accepted for publication, e.g., in the following leading journals in the sector of insurance and risk management: Journal of Risk and Insurance, Insurance: Mathematics and Economics, European Journal of Operational Research, Journal of Risk Finance, Journal of Banking and Finance, Journal of Insurance Regulation, Risk Management and Insurance Review, The Geneva Papers on Risk and Insurance.
Our collaboration with partners from the insurance industry has resulted in various studies and projects published throughout the year. Among these, we would like to name the following studies
The institute currently offers a total number of 22 courses and seminars at all academic levels: bachelor, master and Ph.D. A grand total of almost 300 students take part in our academic courses each year. In 2016 we have also completed around 150 workshop days during our intra- and extra-company projects. No less than 350 executive managers from 20 countries have attended our seminars throughout the year.
The Institute of Insurance Economics generated revenues of
CHF 5.0 million in 2016. The major revenue streams of the institute are projects with our partners from the insurance industry (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, in particular
For the I·VW-Team:
Hato Schmeiser, Martin Eling, Peter Maas, Alexander Braun