The Lighthill Risk Network is
Shaping and Connecting
the Risk Community
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Shaping and Connecting
the Risk Community
The Lighthill Risk Network
Driving business innovation and resilience from academic insight
The understanding of risk underpins the global re/insurance sector and its ability to support a more resilient society.
The Lighthill Risk Network seeks to tap into new research around all risks, use collaboration to increase the speed of knowledge transfer and openness to broaden the insight and impact from that knowledge. By facilitating and enhancing knowledge transfer into financial services from academic, government and commercial experts at the forefront of risk-related research, we provide a global gateway for companies to access the latest knowledge and understanding of risk and apply this to innovate their business. Through this open cross-sector collaboration, research and development, our mission is to drive forward better understanding of risk to empower a more resilient world.
The Lighthill Risk Network is calling on academics and insurers to work together to confront and overcome the main risks posing a challenge in today’s climate.
To begin this journey, we have set out a list of key research priorities that we believe need deeper levels of research and understanding.
Hydrological & Atmospheric Risk
Hydrological and atmospheric risks are particularly challenging for insurers to model; close collaboration with the academic sector is required to improve physical process understanding and risk modelling.
Climate Change Risk
While scientists have gained much more confidence evaluating how climate change may affect an extreme weather event over the last 15 years, much of current insurance risk modelling is based on the assumption of a stable climate.
Emerging Technology and Cyber Risk
Insurers would benefit enormously from research into a standardised terminology framework for cyber incidents, as well as a consolidated data set of major historic cyber loss events.
Resilient economies and complex systems
There is a gap for researchers to work with insurers to support a clearer framework for embedding resilience into decision making for businesses and governments.
Decision making under uncertainty
There is scope to improve the impact of research into decision making under uncertainty through stronger links with insurance, particularly looking at areas of new work that should be pursued next.
The risk of risk modelling
The re/insurance industry strives to continually strengthen the predictive power of its catastrophe modelling capabilities and stronger links with researchers are required to stay at the cutting edge.
