International Insurance Economics think tank, The Geneva Association and the International Insurance Society (IIS), the largest association of insurance leaders, last night presented the Shin Research Excellence Awards at the 48th Annual IIS Seminar which is taking place in Rio de Janeiro, Brazil, June 17-20.
There were a record number of significant papers submitted on this year’s subject, Insurance Solutions for Developing Countries, which is consistent with the overall theme of the 2012 IIS Seminar, Insurance Frontiers: Innovation and Innovation in Emerging Markets and with The Geneva Association’s special efforts to transfer insurance knowledge and understanding into emerging market economies.
The winners collecting their awards were Olajumoke Olaosebikan, from the University of Bath’s School of Management, UK for her paper, The Determinants of the Profitability of Micro-Life Insurers in Nigeria, and Yi (Kitty) Yao from the Actuarial Science, Risk Management and Insurance Department of University of Wisconsin’s School of Business, Madison, USA, for her paper, Development and Sustainability of Emerging Health Insurance Markets: Evidence from Microinsurance in Pakistan. The winning research was presented in front of the 400+ insurance leaders attending the IIS Rio Seminar.
The joint award program is intended to promote practically oriented applied research in insurance, addressing subjects which directly influence business operations. Each year research is solicited from leading academics worldwide and a panel of distinguished judges then determines the most worthy research based on a set of strict criteria. In addition to the research being presented to the delegation of global insurance leaders attending the IIS Annual Seminar, the winning research is published in a special edition of The Geneva Papers on Risk and Insurance Issues and Practices, the leading journal in the insurance field. IIS seminars provide a forum for senior insurance executives, leading regulators and prominent academics to explore issues facing the global insurance industry.
The Awards were presented by Dr Christophe Courbage, Research Director Health & Ageing and Insurance Economics at The Geneva Association and Michael J. Morrissey, President and Chief Executive Officer of the IIS.
“I am very proud of this year award winners since their work totally fulfil the criteria and spirit of the Shin Research Excellence Award”, stated Mr. Courbage. They not only address solutions to expand insurance coverage in developing countries with important commercial implications for the insurance industry, but their works are also based on strong scientific research background. So I congratulate the winners for their contributions.”
Mr. Morrissey commented, “it is particularly encouraging for the industry that the award winners this year, selected blindly by our distinguished panel of judges, were two young women providing ground-breaking research on the important topic of microinsurance in Pakistan and Nigeria.” “Emerging markets continue to be a highly relevant focus for our industry with insurance products designed with an objective of bridging the gap towards the development of economic equality and stability.”
