American International Group Inc. has provided an initial $4 million to establish a risk management engineering and analytics center and to endow a professorship in that field. The partnership between the insurance giant and Clemson is designed to increase the understanding of risk and ways to mitigate it.
“It’s a critical part of AIG’s strategy to serve as a valued advisor to clients who are managing increasingly complex risks,” said John Doyle, chief executive officer, commercial insurance for AIG in a press release.
The center will be located at CU-ICAR.
Research at the center will include improving cyber security to make systems less vulnerable to natural and manmade disasters, catastrophe modeling, supply chain and logistics risk, loss modeling and tool development, predictive risk modeling, a coastal resilience initiative focused on risks from hurricanes and floods and enhanced capacity to analyze unstructured data to benchmark frequent loss events and causes.
The center will provide loss-prevention training with real-world and virtual reality-based exercises. It will train analysts to join members of AIG’s loss-prevention team.
An online curriculum will be created that offers graduate certificates in such things as risk engineering, system analytics and catastrophe modeling. The certificates can be combined to meet requirements of a master’s degree under development.
“The beauty of this partnership is that it presents tremendous opportunities for AIG, as well as Clemson,” said Anand Gramopadhye, dean of Clemson’s College of Engineering and Science.
AIG said it would continue to look for ways to expand the partnership.
