The PhD concentration in Risk Management and Insurance (RMI) prepares students for academic careers at research universities. As a department, we encourage students to develop and utilize research methodologies emphasizing finance and economics. Our research focus has benefited our students in the job market, leading to their research appointments at universities such as California State University, the University of Florida, the University of Wisconsin – La Crosse, National Taiwan University, Fudan University, and the Korean Institute of Finance.
The department has 18 full-time faculty members whose research focuses on a variety of topics within risk management. These include productivity and efficiency of insurance firms, insurance regulation, behavioral insurance, enterprise risk management, catastrophic risk management, longevity risk management and actuarial modeling, among others. Our department is also conducting leading research on systemic risk and the inter-relationships among financial services firms. Faculty research is published in many leading journals such as the Journal of Risk and Insurance, Insurance: Mathematics and Economics, and the North American Actuarial Journal.
For more information please consult the Risk Management and Insurance Department website.
Students have access to the Wharton Research Database Services database containing extensive economic and financial data. In addition, the Risk Management and Insurance program maintains extensive databases relating to risk management and insurance research. Among the available datasets are twenty years of National Association of Insurance Commissioners annual statement data on U.S. life and property-casualty insurance companies, international financial statement data on insurance companies, worldwide data on operational risk events, and data on credit default swap prices of banks and insurance companies. Funding is available for other databases as needed.
All students admitted to this program are considered for full financial support for up to five years. Funding typically comes in the form of research or teaching assistantship and includes full tuition and a competitive stipend. The funding is renewable every year, subject to adequate progress and annual evaluations. Fellowship consideration will be given to applications received by December 15th.
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Title: Associate Professor
Research Interests: Longevity Risk Management, Systemic Risk in the Insurance Industry, Insurance Economics, and Corporate Risk Management
Office: Alter Hall 625
Research Interests: Insurance Markets, Analysis of Systemic Risk
Office: Alter Hall 617
Title: Associate Professor
Office: Alter Hall 629
Title: Assistant Professor
Research Interests: Behavioral Decision Theory, Utility Theory, Pension Economics
Office: Alter Hall 619
Title: Deaver Professor
Research Interests: Financial Services Conglomeration, Efficiency Measurement of Insurers, Underwriting Cycles
Office: Alter Hall 624
Research Interests: Healthcare, Strategic Management and Business Policies
Office: Alter Hall 611
Title: Harry Cochran Professor
Research Interests: Risk, Insurance, and Healthcare Management
Office: Alter Hall 614
Myeonghun joined the Fox PhD program in the fall of 2013. He earned his Bachelor’s degree in health service management and business administration, and received a Master’s degree in Finance from Kyunghee University in South Korea. Prior to becoming a PhD student, Myeonghun attended various research workshops in Korea that included topics related to financial companies, financial authority, insurance association, and government. His current research interests include longevity risk, investment strategy in terms of ALM and LDI, annuity puzzle, regulation and market efficiency.
Yuan (Sabrina) Du joined the Fox School of Business in the Fall of 2015 with concentration in Risk Management & Insurance. She received a Master’s degree in Financial Engineering from Temple University in 2014 and a Bachelor’s degree in Computer Science from Guangdong University of Foreign Study in 2012. Her current research interests include Enterprise Risk Management, Mergers & Acquisitions, financial risk management and risk modeling. However, she is still exploring more research interests related to insurance industry.
Qiao Jiang joined the PhD program in fall 2014, concentrating on Risk Management and Insurance. He received his B.S. in Mathematics from University of Minnesota – Twin Cities and M.S. in Actuarial Science from Columbia University. He is pursuing Associate of the Society of Actuaries (ASA) and Fellow of the Society of Actuaries (FSA) designations. His current interest rates include mortality risk and Markov Chain but he is exploring more research interests related to finance.
Rui Ju joined the Fox School of Business in the Fall of 2014 with concentration in Risk Management & Insurance. She holds a Master’s degree in Financial Analysis & Risk Management from Temple University in 2014 and a Bachelor’s degree in Financial Engineering from Anhui University of Finance & Economics in 2012. Her current research interests include financial risk management, securitization and risk modeling.
Ji Yun Lim
Before joining the PhD program in Risk management and Insurance department in 2012, I received MS in Finance from the University of Rochester, MBA from KAIST, and BS degree in Computer science from Ewha Womans University. While working as a consultant in the Capital Market and Risk Management team at Deloitte Consulting, I participated in various projects such as setting framework for risk management, adopting Basel III guidance for managing liquidity risk, implementing International Financial Reporting Standards in firm’s portfolio and hedging strategy and pricing diverse derivative products for banks and insurance companies. My current research interests are in the capital allocation and systemic risk in the insurance industry. I enjoy traveling and pilates.
Yingrui (Elaine) Lu joined the Ph.D. program of Risk Management & Insurance in Fall 2014. She received her M.S. in Actuarial Science at Columbia University in 2013. Before moving to the U.S. from China, she earned her B.M. in Accounting and B.S. in Mathematics and Applied Mathematics at Xiamen University in 2007. Her current research interests are in insurance economics, risk modeling and actuarial mathematics. In her spare time, Elaine enjoys music and yoga.
Ying Peng is a Ph.D. student in Risk Management and Insurance at Temple University. Before joined this program, Ying received her Master’s degree in Actuarial Science from Middle Tennessee State University, and her Bachelor’s degree in Finance from Central South University of Forestry and Technology. Her current research interests include enterprise risk management and retirement plan de-risking.
Juan Zhang joined the PhD program in fall 2015, concentrating on Risk Management and Insurance. She received her Master’s degree in insurance in 2015 and her Bachelor’s degree in Logistics Management in 2013 at Central University of Finance and Economics. She is pursuing Associate of the Society of Actuaries (ASA) and Fellow of the Society of Actuaries (FSA) designations. Her current research interests are solvency measurement, regulation, efficiency, systemic risk and securitization. In spare time she likes traveling and photography.