24 May 2018 - Professor Shaun Wang invited by Tsinghua University's School of Economics and Management to present a research talk.

CHINA CENTER FOR INSURANCE AND RISK MANAGEMENT (CCIRM),
TSINGHUA SEM
DUAL-WEEK SEMINAR
NO. 74

TOPIC: Information Security Spending by Firms and Insurance Protection of Digital Assets

SPEAKER: Professor Shaun Wang is currently Director of the Insurance Risk and Finance Research Centre, Nanyang Technological University in Singapore. Previously he served as Deputy Secretary General of The Geneva Association from 2013-2015, the Thomas P. Bowles Chair Professor at Georgia State University from 2004-2013, Research Director at SCOR (1997-2004),Assistant Professor at the University of Waterloo (1994-1997) and Concordia University (1993-1994). Professor Wang has published widely and received several international awards. He is the inventor of the "Wang Transform". He was Editor of ASTIN Bulletin: Journal of the International Actuarial Association. He led several international symposiums on risk and capital. He delivered a Capitol Hill briefing in Washington D.C. on “The Financial Crisis and Lessons for Insurers” in 2009.Professor Wang has a PhD in Statistics from University of Waterloo, BSc& MSc in Mathematics from Peking University. He is a Fellow of the Casualty Actuarial Society, Chartered Enterprise Risk Analyst, and Member of the American Risk and Insurance Association.

DATE/TIME: Thursday, May 24, 2018, 4:00 pm-5:30pm

VENUE: Room 306, Shunde Building, Tsinghua SEM

LANGUAGE: English

ORGANIZERS: China Center for Insurance and Risk Management (CCIRM), Tsinghua SEM; Department of Finance, Tsinghua SEM

ABSTRACT: In this talk I will present latest findings of a 3-year project at Nanyang Technological University, co-sponsored by the Monetary Authority of Singapore, Cyber Security Agency and five global insurance companies. I will present a methodology for quantifying information security risk for an organization, using the concept of “knowledge set” relative to the universe of threats, and “knowledge gap” between vendors and suppliers. I will present economic models for quantifying risk reduction by two types of spending: in acquiring data and expertise, vis-à-vis deploying defense measures and detection tools. I will then explore ideas for designing new insurance products for protecting digital assets.

A Brief Introduction to the Dual-week Seminar of CCIRM, Tsinghua SEM: China Center for Insurance and Risk Management (CCIRM), a research center of the School of Economics and Management, Tsinghua University (Tsinghua SEM), has held dual-week seminars during each semester since March 4, 2011. Covering theoretical and practical issues related to risk management and insurance, the seminars facilitate academic exchanges among faculty members and research students, both internally as well as externally.

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