Illinois Risk Lab


Risk Analytics Mini-symposium

More information can be found at the following link: Mini-symposium




Spring 2020

Fall 2019


Spring 2019


Fall 2018


Join the IRisk Lab

The Illinois Risk Lab is intended to facilitate integration of discovery-based learning experience with state-of-the-art academic and practical research in all areas of Risk Analysis and Advanced Analytics. Undergraduate and graduate students from all disciplines across campus are welcome to apply for membership at the I-Risk Lab.  


  • Research projects: engage in a research project under the supervision of a subject matter expert. 
  • Student Consulting: work in cooperation with a company to solve business-oriented problems.
  • Research seminars: attend research seminars by leading scholars and industry thought leaders. 


More information about joining the IRisk Lab can be found here


The Risk Lab Team

Klara Buysse is the coordinator of the Illinois Risk Lab.  She holds a master degree in Mathematics and an advanced master degree in Actuarial Science, both from the KU Leuven (Belgium).  Actuarial Science helped to put a practical layer on the mathematical modelling she had encountered during her mathematical studies. Klara has worked for several years in the field of risk management at Generali Belgium and at NN Insurance Belgium. She became an expert in various quantitative studies (Solvency II, Market consist Valuation, New Business Valuation, etc).  

She is currently an instructor at the University of Illinois and advisor for Graduate Students.

Alfred Chong, ASA,  is an Assistant Professor at the Department of Mathematics, UIUC. He finished his Ph.D. in Actuarial Science at the Department of Statistics and Actuarial Science at the University of Hong Kong and the Department of Mathematics, King's College in London, in 2017, under the supervision of Ka Chun Cheung and Gechun Liang. His research interests are in optimal insurance and reinsurance designs, premium principles and risk measures, indifference pricing and valuation, stochastic control and backward stochastic differential equations, optimal investment and forward performance preferences.

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Runhuan Feng, FSA, CERA, is an Associate Professor, the Director of Actuarial Science, the State Farm Companies Foundation Scholar in Actuarial Science and a Helen Corley Petit Professorial Scholar at the University of Illinois. He has published extensively on developing new techniques for computations of risk metrics for investment-combined insurance products. Most recently, he led a research team to conduct the first SOA industry-wide survey on nested stochastic modeling and performed subsequent research study to create resources for financial reporting actuaries on computational methods to speed up nested simulations. He also worked for the State Universities Annuitant Association to provide quantitative assessment of a legislative proposal for pension obligation bonds to address the ongoing Illinois public pension crisis.

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Daniël Linders obtained his master's degree in Mathematics  in 2007 at the KU Leuven. In 2009, he finished the two year program of Actuarial Science at the KU Leuven. During these two years, he did an internship at Dexia Bank Belgium and Dexia Insurance Belgium. He obtained his PhD in 2013 under the supervision of Professor Jan Dhaene (KU Leuven). His PhD is titled ‘Measuring herd behavior in stock markets’. He was a postdoctoral researcher at the KU Leuven, funded by the Axa Research Fund, the University of Amsterdam and the Technical University Munich. He is currently assistant professor at UIUC and  visiting lecturer at the KU Leuven (Belgium) and the ISM Adonaï (Benin).

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Richard Sowers is a professor of the University of Illinois. He is appointed in the Department of Industrial and  enterprise Systems Engineering, the  Deparment of Mathematics and the department of Statistics. He holds a PhD in Applied Mathematics from the University of Maryland. His interests are in various applied problems which have impact. His formal training is in electrical engineering and applied mathematics. "I find that some of the more interesting problems I have worked on have come from looking at the real world with a strongly quantitative toolset. Along the way, I have spent time at a hedge fund and consulted for private industry and the U.S. Government.  Finally, at the moment I am the associate head for undergraduate studies in the department of Industrial and Enterprise Systems Engineering."

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Department of Mathematics
Altgeld Hall 359
1409 West Green Street
Urbana, IL, 61801, USA


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