PhD Study & Placement The Wisconsin PhD Program offered by the Department of Risk and Insurance focuses on our core areas of research in actuarial science, analytics, risk management, insurance, and decision-making under risk and uncertainty. Program Structure Full funding typically available Core courses include microeconomics, econometrics sequence, panel data analysis, and seminar courses Additional coursework customized to individual background and research interests Access to applied, data-driven research PhD earned following a completed dissertation, typically in fifth year Academic Requirements BA in business, actuarial science, economics, statistics, or related field Strong math background: coursework in multivariate calculus, linear algebra strongly encouraged Research and/or work experience in area of interest within actuarial science, risk management, or insurance valued 2017-2021 PhD Graduate Placement Florida State University Michigan State University Tsinghua University University of Alabama University of Calgary University of Illinois, Champaign-Urbana University of Sydney
A Passionate Community for Inspired Learning The Risk and Insurance Department aims for depth, breadth, and innovation through academic and extracurricular activities. These activities reach more than 500 students annually. Academic Programs BBA in Actuarial Science BBA in Risk Management & Insurance Capstone Certificate in Actuarial Science MBA in Risk Management & Insurance MS in Business Analytics PhD in Actuarial Science, Risk Management, and Insurance Extracurricular Activities Actuarial Club Risk Management & Insurance Society Co-Curricular Learning Board Innovations and Achievements Technology-enhanced learning experience for global access to actuarial curriculum Society of Actuaries Center of Actuarial Excellence Inspired Learning Chair appointments Global Center of Insurance Excellence 975 University Avenue Madison, WI 53706 (608) 262-8714 risk.insurance@wsb.wisc.edu go.wisc.edu/risk-insurance go.wisc.edu/phd-ri
PhD in Actuarial Science, Risk Management, and Insurance Contribute to innovative research with world-renowned faculty
PhD Study & Placement The Wisconsin PhD Program offered by the Department of Risk and Insurance focuses on our core areas of research in actuarial science, analytics, risk management, insurance, and decision-making under risk and uncertainty. Program Structure Full funding typically available Core courses include microeconomics, econometrics sequence, panel data analysis, and seminar courses Additional coursework customized to individual background and research interests Access to applied, data-driven research PhD earned following a completed dissertation, typically in fifth year Academic Requirements BA in business, actuarial science, economics, statistics, or related field Strong math background: coursework in multivariate calculus, linear algebra strongly encouraged Research and/or work experience in area of interest within actuarial science, risk management, or insurance valued 2017-2021 PhD Graduate Placement Florida State University Michigan State University Tsinghua University University of Alabama University of Calgary University of Illinois, Champaign-Urbana University of Sydney
A Passionate Community for Inspired Learning The Risk and Insurance Department aims for depth, breadth, and innovation through academic and extracurricular activities. These activities reach more than 500 students annually. Academic Programs BBA in Actuarial Science BBA in Risk Management & Insurance Capstone Certificate in Actuarial Science MBA in Risk Management & Insurance MS in Business Analytics PhD in Actuarial Science, Risk Management, and Insurance Extracurricular Activities Actuarial Club Risk Management & Insurance Society Co-Curricular Learning Board Innovations and Achievements Technology-enhanced learning experience for global access to actuarial curriculum Society of Actuaries Center of Actuarial Excellence Inspired Learning Chair appointments Global Center of Insurance Excellence 975 University Avenue Madison, WI 53706 (608) 262-8714 risk.insurance@wsb.wisc.edu go.wisc.edu/risk-insurance go.wisc.edu/phd-ri
PhD in Actuarial Science, Risk Management, and Insurance Contribute to innovative research with world-renowned faculty
Research Highlights
World-Renowned Faculty
The University of Wisconsin-Madison is one of the world’s great research and teaching institutions, with the Risk and Insurance Department faculty being strong contributors to this reputation.
Excellence in research defines what and how we teach, enriches our exchange with industry and policy leaders, and opens unique partnership opportunities among our community.
Specific areas of expertise include: Predictive modeling, healthcare analytics, insurance regulation, behavioral economics, financial management of insurance, corporate risk management, financial management of insurance organizations, and statistical methods development.
Select publications in top-tier Journals: Katja Schilling, Daniel Bauer, Marcus Christiansen, Alexander Kling (2020). “Decomposing Dynamic Risks into Risk Components.” Management Science 66, 5485-5504. Vaibhav Anand, Tyler Leverty, Kenny Wunder (2021). “Paying for Expertise: The Effect of Experience on Reinsurance Demand.” Journal of Risk and Insurance 88(3), 727-756. Anita Mukherjee, Shawn Cole, Jeremy Tobacman (2021). “Targeting Weather Insurance Markets.” Journal of Risk and Insurance 88(3), 757-784. Lisa Gao, Margie Rosenberg (14 Apr 2020). “The Impact of Unmet Oral Health Needs on Emergency Department Utilization.” North American Actuarial Journal. 2021:25(1), 40-52. Peng Shi, Zifeng Zhao (2020). “Regression for copula-linked compound distributions with applications in modeling aggregate insurance claims.” Annals of Applied Statistics, 14(1), 357-380. Chenyuan Liu and Justin Sydnor (Forthcoming). "Dominated Options in Health-Insurance Plans." American Economic Journal: Economic Policy. Susan L. Averett, Julie Smith, Yang Wang. (2019). Medicaid expansion and opioid deaths. Health Economics, vol 28(12), 1491-1496.
Daniel Bauer Professor Hickman/Larson Chair in Actuarial Science Research interests: Interface of actuarial science, quantitative finance, insurance economics, and data analytics
J. Tyler Leverty Associate Professor Gerald D. Stephens CPCU Chair in Risk Management and Insurance Research interests: Economics of insurance markets, insurance company operations, insurance regulation, public policy issues in insurance
Anita Mukherjee Assistant Professor Michael E. Lehman Distinguished Chair for Inspired Learning in Business Research interests: Insurance markets, law and economics, development economics, psychology and economics
Marjorie Rosenberg FSA Professor Assurant Health Professor in Actuarial Science Research interests: Applications of statistical modeling with regards to health, health care, and health policy
Peng Shi ACAS, FSA Associate Professor Charles & Laura Albright Professor in Business and Finance Research interests: Actuarial science, panel and longitudinal data, predictive modeling of insurance operations, dependence models
Justin Sydnor Professor Leslie P. Schultz Professor in Risk Management and Insurance Research interests: Psychology and economics, applied microeconomics, decision-making under risk, insurance markets, behavioral industrial organization
Joan Schmit Professor, Department Chair American Family Insurance Distinguished Chair of Risk Management and Insurance Research interests: Development of insurance in emerging markets, insurance regulation, reputation risk, economics of litigation strategies
Yang Wang Associate Professor Research interests: Health economics, applied microeconomics, health outcomes of public policy, risky health behaviors, economics of aging
Research Highlights
World-Renowned Faculty
The University of Wisconsin-Madison is one of the world’s great research and teaching institutions, with the Risk and Insurance Department faculty being strong contributors to this reputation.
Excellence in research defines what and how we teach, enriches our exchange with industry and policy leaders, and opens unique partnership opportunities among our community.
Specific areas of expertise include: Predictive modeling, healthcare analytics, insurance regulation, behavioral economics, financial management of insurance, corporate risk management, financial management of insurance organizations, and statistical methods development.
Select publications in top-tier Journals: Katja Schilling, Daniel Bauer, Marcus Christiansen, Alexander Kling (2020). “Decomposing Dynamic Risks into Risk Components.” Management Science 66, 5485-5504. Vaibhav Anand, Tyler Leverty, Kenny Wunder (2021). “Paying for Expertise: The Effect of Experience on Reinsurance Demand.” Journal of Risk and Insurance 88(3), 727-756. Anita Mukherjee, Shawn Cole, Jeremy Tobacman (2021). “Targeting Weather Insurance Markets.” Journal of Risk and Insurance 88(3), 757-784. Lisa Gao, Margie Rosenberg (14 Apr 2020). “The Impact of Unmet Oral Health Needs on Emergency Department Utilization.” North American Actuarial Journal. 2021:25(1), 40-52. Peng Shi, Zifeng Zhao (2020). “Regression for copula-linked compound distributions with applications in modeling aggregate insurance claims.” Annals of Applied Statistics, 14(1), 357-380. Chenyuan Liu and Justin Sydnor (Forthcoming). "Dominated Options in Health-Insurance Plans." American Economic Journal: Economic Policy. Susan L. Averett, Julie Smith, Yang Wang. (2019). Medicaid expansion and opioid deaths. Health Economics, vol 28(12), 1491-1496.
Daniel Bauer Professor Hickman/Larson Chair in Actuarial Science Research interests: Interface of actuarial science, quantitative finance, insurance economics, and data analytics
J. Tyler Leverty Associate Professor Gerald D. Stephens CPCU Chair in Risk Management and Insurance Research interests: Economics of insurance markets, insurance company operations, insurance regulation, public policy issues in insurance
Anita Mukherjee Assistant Professor Michael E. Lehman Distinguished Chair for Inspired Learning in Business Research interests: Insurance markets, law and economics, development economics, psychology and economics
Marjorie Rosenberg FSA Professor Assurant Health Professor in Actuarial Science Research interests: Applications of statistical modeling with regards to health, health care, and health policy
Peng Shi ACAS, FSA Associate Professor Charles & Laura Albright Professor in Business and Finance Research interests: Actuarial science, panel and longitudinal data, predictive modeling of insurance operations, dependence models
Justin Sydnor Professor Leslie P. Schultz Professor in Risk Management and Insurance Research interests: Psychology and economics, applied microeconomics, decision-making under risk, insurance markets, behavioral industrial organization
Joan Schmit Professor, Department Chair American Family Insurance Distinguished Chair of Risk Management and Insurance Research interests: Development of insurance in emerging markets, insurance regulation, reputation risk, economics of litigation strategies
Yang Wang Associate Professor Research interests: Health economics, applied microeconomics, health outcomes of public policy, risky health behaviors, economics of aging
Research Highlights
World-Renowned Faculty
The University of Wisconsin-Madison is one of the world’s great research and teaching institutions, with the Risk and Insurance Department faculty being strong contributors to this reputation.
Excellence in research defines what and how we teach, enriches our exchange with industry and policy leaders, and opens unique partnership opportunities among our community.
Specific areas of expertise include: Predictive modeling, healthcare analytics, insurance regulation, behavioral economics, financial management of insurance, corporate risk management, financial management of insurance organizations, and statistical methods development.
Select publications in top-tier Journals: Katja Schilling, Daniel Bauer, Marcus Christiansen, Alexander Kling (2020). “Decomposing Dynamic Risks into Risk Components.” Management Science 66, 5485-5504. Vaibhav Anand, Tyler Leverty, Kenny Wunder (2021). “Paying for Expertise: The Effect of Experience on Reinsurance Demand.” Journal of Risk and Insurance 88(3), 727-756. Anita Mukherjee, Shawn Cole, Jeremy Tobacman (2021). “Targeting Weather Insurance Markets.” Journal of Risk and Insurance 88(3), 757-784. Lisa Gao, Margie Rosenberg (14 Apr 2020). “The Impact of Unmet Oral Health Needs on Emergency Department Utilization.” North American Actuarial Journal. 2021:25(1), 40-52. Peng Shi, Zifeng Zhao (2020). “Regression for copula-linked compound distributions with applications in modeling aggregate insurance claims.” Annals of Applied Statistics, 14(1), 357-380. Chenyuan Liu and Justin Sydnor (Forthcoming). "Dominated Options in Health-Insurance Plans." American Economic Journal: Economic Policy. Susan L. Averett, Julie Smith, Yang Wang. (2019). Medicaid expansion and opioid deaths. Health Economics, vol 28(12), 1491-1496.
Daniel Bauer Professor Hickman/Larson Chair in Actuarial Science Research interests: Interface of actuarial science, quantitative finance, insurance economics, and data analytics
J. Tyler Leverty Associate Professor Gerald D. Stephens CPCU Chair in Risk Management and Insurance Research interests: Economics of insurance markets, insurance company operations, insurance regulation, public policy issues in insurance
Anita Mukherjee Assistant Professor Michael E. Lehman Distinguished Chair for Inspired Learning in Business Research interests: Insurance markets, law and economics, development economics, psychology and economics
Marjorie Rosenberg FSA Professor Assurant Health Professor in Actuarial Science Research interests: Applications of statistical modeling with regards to health, health care, and health policy
Peng Shi ACAS, FSA Associate Professor Charles & Laura Albright Professor in Business and Finance Research interests: Actuarial science, panel and longitudinal data, predictive modeling of insurance operations, dependence models
Justin Sydnor Professor Leslie P. Schultz Professor in Risk Management and Insurance Research interests: Psychology and economics, applied microeconomics, decision-making under risk, insurance markets, behavioral industrial organization
Joan Schmit Professor, Department Chair American Family Insurance Distinguished Chair of Risk Management and Insurance Research interests: Development of insurance in emerging markets, insurance regulation, reputation risk, economics of litigation strategies
Yang Wang Associate Professor Research interests: Health economics, applied microeconomics, health outcomes of public policy, risky health behaviors, economics of aging
PhD Study & Placement The Wisconsin PhD Program offered by the Department of Risk and Insurance focuses on our core areas of research in actuarial science, analytics, risk management, insurance, and decision-making under risk and uncertainty. Program Structure Full funding typically available Core courses include microeconomics, econometrics sequence, panel data analysis, and seminar courses Additional coursework customized to individual background and research interests Access to applied, data-driven research PhD earned following a completed dissertation, typically in fifth year Academic Requirements BA in business, actuarial science, economics, statistics, or related field Strong math background: coursework in multivariate calculus, linear algebra strongly encouraged Research and/or work experience in area of interest within actuarial science, risk management, or insurance valued 2017-2021 PhD Graduate Placement Florida State University Michigan State University Tsinghua University University of Alabama University of Calgary University of Illinois, Champaign-Urbana University of Sydney
A Passionate Community for Inspired Learning The Risk and Insurance Department aims for depth, breadth, and innovation through academic and extracurricular activities. These activities reach more than 500 students annually. Academic Programs BBA in Actuarial Science BBA in Risk Management & Insurance Capstone Certificate in Actuarial Science MBA in Risk Management & Insurance MS in Business Analytics PhD in Actuarial Science, Risk Management, and Insurance Extracurricular Activities Actuarial Club Risk Management & Insurance Society Co-Curricular Learning Board Innovations and Achievements Technology-enhanced learning experience for global access to actuarial curriculum Society of Actuaries Center of Actuarial Excellence Inspired Learning Chair appointments Global Center of Insurance Excellence 975 University Avenue Madison, WI 53706 (608) 262-8714 risk.insurance@wsb.wisc.edu go.wisc.edu/risk-insurance go.wisc.edu/phd-ri
PhD in Actuarial Science, Risk Management, and Insurance Contribute to innovative research with world-renowned faculty