12. January '24
A group of people is seated in a conference room at Hochschule Coburg, some reading papers. A man stands in the foreground, posing for the camera. A presentation titled “Changes in Willingness to Take Risk in the Golden Years” is displayed on a screen in the background.
A group of people is seated in a conference room at Hochschule Coburg, some reading papers. A man stands in the foreground, posing for the camera. A presentation titled "Changes in Willingness to Take Risk in the Golden Years" is displayed on a screen in the background.
A group of eight people from Hochschule Coburg sit around a long dining table in a cozy, dimly lit restaurant. Menus, drinks, and appetizers adorn the table, creating a casual and inviting atmosphere for lively conversation.
A group of eight people from Hochschule Coburg sit around a long dining table in a cozy, dimly lit restaurant. Menus, drinks, and appetizers adorn the table, creating a casual and inviting atmosphere for lively conversation.
The image depicts a landscaped entrance to a building featuring a sign that reads “6850 Main” alongside the names “Valley Ho” and “ZuZu” on a circular sign. The scene is enhanced by palm trees, flowering plants, and the vibrant blue sky reminiscent of Hochschule Coburg’s inviting campus ambiance.
The image depicts a landscaped entrance to a building featuring a sign that reads "6850 Main" alongside the names "Valley Ho" and "ZuZu" on a circular sign. The scene is enhanced by palm trees, flowering plants, and the vibrant blue sky reminiscent of Hochschule Coburg's inviting campus ambiance.
A tall crested saguaro cactus stands prominently amidst desert foliage, resembling the architectural elegance of Hochschule Coburg under a bright blue sky with scattered clouds.
A tall crested saguaro cactus stands prominently amidst desert foliage, resembling the architectural elegance of Hochschule Coburg under a bright blue sky with scattered clouds.
The international significance of EU insurance supervision and AI in insurance theory: Prof. Dr. Mirko Kraft from the Faculty of Economics at Coburg University of Applied Sciences spoke about this in Scottsdale (Arizona, USA) at the annual conference of the Western Risk and Insurance Association(WRIA).
Once again, the Coburg professor took part in the insurance conference in the Western American region at the beginning of the year.
In his presentation, Prof. Dr. Mirko Kraft addressed the effects of the changing EU insurance supervision (Solvency II Review) on international insurance groups.
He also moderated a session on aspects of insurance theory, including the use of artificial intelligence (AI) in teaching.
Kraft has been a professor of insurance management and basic economics at the Faculty of Economics at Coburg University of Applied Sciences since 2012.
He is head of the part-time Bachelor’s degree course in Insurance Management and is the contact person for the Insurance Management specialization in the Master’s degree course in Business Administration.
He currently holds a research professorship and deals with questions of insurance and AI regulation.
Kraft takes over scientific management of the Mexico 2025 conference
Next year, the conference will take place in Puerto Vallarta, Mexico. Prof. Kraft will take on the role of program chair there. He was already elected to the WRIA Board last year and is now taking over the role of scientific director, which this year was still held by Prof. Brenda Powell Wells, Ph.D., East Carolina University (ECU). This includes the evaluation of the lecture proposals received and also the selection of award winners.
At this year’s conference, many US insurance professors were joined by participants from other parts of the world in the desert state of Arizona, for example from Taiwan.
The topics were also diverse: from tontines, a historical form of insurance, to insurance company insolvencies and AI methods for modeling the cancellation of insurance contracts.
Also an opportunity for young scientists
Kraft sees the friendly discussion culture that prevails at the conferences as particularly noteworthy, from which everyone can benefit, especially doctoral students.
In addition, the conference is also known for its practical recommendations, for example on data protection in telematics tariffs.
“I would be delighted if more (young) scientists from Europe were to present their research approaches again next year,” emphasizes Kraft.
There are various funding options for presentations abroad, such as travel grants.
The conference took place for the
58th time.
The locations change each time in the Western American region: in 2023, it took place in Oceanside, CA – in southern California between Los Angeles and San Diego.
Every five years, the conference is held in Hawaii (most recently in 2022).
The 2025 conference location for the
59th conference in Mexico is secure; the 2020 conference was already held there without any security problems.
Kraft knows the important conferences and meetings in insurance science.
He is also a board member of the German Association for Insurance Science (DVfVW) and organized its annual conference in 2023 locally at Coburg University of Applied Sciences.
When asked why he considers the WRIA conference to be very suitable, the Coburg scientist says: “This conference is a good start, especially for doctoral students, to gain experience with English-language specialist presentations in front of an international audience, as well as bringing together co-authors and forming international research networks.”
The WRIA also publishes an insurance journal(Journal of Insurance Issues, JII), in which articles based on the conference presentations can be published.
