Rating agency and ICMIF Supporting Member AM Best has announced a new risk management competition focused on mitigating natural and man-made catastrophe risk, the purpose of which is to provide college-level students with the opportunity to showcase their talents.

AM Best’s Student Challenge, sponsored by the AM Best Foundation, asks undergraduate and graduate-level students, or two-member student teams, to develop innovative catastrophe risk solutions to insure against existing risks related to natural and manmade catastrophes (eg pandemics, industrial catastrophes, hurricanes, wildfires, floods, nuclear risks). Examples of solutions could include and combine new products, incentive programmes, private/public partnerships and alternative risk transfer mechanisms, or other possibilities.

Selected finalists will participate in an AM Best conference in March 2021, where each team will present their unique solution to top insurance industry leaders. These teams will receive complimentary conference registration, recognition in Best’s Review magazine and on AM Best’s social media channels, as well as an academic medal and an AM Best mentor to guide them through the development of their solution and conference presentation.

Initial student abstracts, with a maximum of 500 words, should be submitted by Friday 25 September 2020. For more information about the challenge and to submit an abstract, please visit http://www.ambest.com/events/studentchallenge2021/index.html.

This student challenge is one of AM Best’s ongoing efforts to support the development of new talent in the insurance industry. AM Best also provides an analyst training programme for college graduates and college internship opportunities. The AM Best Foundation financially supports charitable organisations that encourage education and thought leadership in insurance and risk management.