Cass actuarial students celebrated at SCOR awards for 8th year running
Cass MSc students have won both SCOR UK Actuarial prizes for the 8th time
For the eighth year in a row Cass students have scooped the prestigious SCOR UK Actuarial Prize for the best academic papers in the field of actuarial science.
This year's prizes were awarded to Xinrong Li and Luiz Paulo Vital Bueno for their MSc dissertations by the major reinsurer SCOR.
The SCOR Actuarial Prize, which is well recognised in the insurance industry, runs across six countries and is designed to promote actuarial science research and increase knowledge in the field.
Winning papers are selected for their innovative character, practical applicability, and the relevance of methods used. The judging panel is made up of insurance, reinsurance and financial professionals and academics.
Xinrong and Luiz were invited to the SCOR Annual Chairman's Dinner at the historic Trinity House, London, to receive their prizes and grants of £3,000.
They joined SCOR representatives in the splendid Court Room to listen to guest speaker Alastair Darling present at the awards dinner.
Luiz was awarded the SCOR prize for his dissertation titled "Brazilian Long Term Care Plan: an Evaluation Based on the Singaporean Model".
"It is indeed a great honour to receive the SCOR prize, in particular with a topic like Long Term Care. I decided to write my paper on Long Term Care because, as a relatively new product, it was really challenging to explore the topic in Brazil." said Luiz, "I hope that this prize motivates more Brazilian students to conduct actuarial research in the near future. I would like to thank Cass and Escola Nacional de Seguros - ENS for providing all the support needed during my Masters programme."
Luiz was supervised by Professor Ben Rickayzen, Head of the Faculty of Actuarial Science and Insurance.
"The judges very much appreciated the practical implications of the paper." said Professor Rickayzen, "I was impressed by the way in which Luiz adapted the modelling work that I had previously developed and applied it to the particular circumstances of Brazil. In a world of ageing populations, being able to deal satisfactorily with the consequential increase in demand for long term care is crucial. The work which Luiz has done in his dissertation should be very helpful to policymakers in Brazil as they decide how to tackle the issues around social care"
The other Cass prize winner Xinrong Li, wrote her dissertation "Catastrophe Model Suitability Analysis: Quantitative Scoring" whilst undertaking a 6-month internship with Guy Carpenter, London.
The internship is part of a special collaboration between Cass and Guy Carpenter, which gave Xinrong the exclusive opportunity to base her dissertation on projects undertaken with the company.
"I really appreciate Cass Business School providing students with such great opportunities for growth." said Xinrong "Sometimes, like with my story, these opportunities can change lives. After I submitted my dissertation to Cass in late August 2013 and completed my internship in November 2013, I got a permanent offer from GC Singapore and have been working there since April this year."
Xinrong's supervisor Dr Andreas Tsanakas commented: "It was a pleasure to supervise Xinrong's research project on such a fascinating and relevant topic. Xinrong showed great creativity and dedication in using the expertise she obtained at Cass in order to develop a practical method for CAT model suitability analysis. The judges rightly recognised the originality and practical applicability of her work in awarding her the prize."