The MSUAA LENS is proud to bring you the 2014 Ronald H. and Mary E. Simon Actuarial Science Lecture from the College of Natural Sciences at MSU. Karen Clark, President and CEO of Karen Clark & Company Catastrophe Modeling: How It’s Evolved and Where It’s Going. Catastrophe models have been used by the insurance industry for the past two decades and they have evolved significantly over that time period. Even though they incorporate scientific theory and engineering expertise, the models are statistical in nature and utilize many of the techniques applied in standard actuarial analysis. Recent innovations in the catastrophe risk management space promise to revolutionize the field over the next few years.
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