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| Cambridge Centre for Risk Studies | |
|---|---|
| Name | Cambridge Centre for Risk Studies |
| Established | 2009 |
| Type | Research centre |
| Parent | University of Cambridge |
| Location | Cambridge |
| Director | Cambridge Judge Business School |
Cambridge Centre for Risk Studies is a research centre based at the University of Cambridge that focuses on the analysis of systemic risk to global supply chains, critical infrastructure, and financial systems. The centre combines expertise drawn from Cambridge Judge Business School, Cambridge Enterprise, Faculty of Engineering, University of Cambridge, Department of Geography, University of Cambridge, and international partners including Lloyd's of London, Munich Re, Swiss Re, and Allianz. It produces probabilistic risk models, scenario analyses, and policy recommendations used by governments, corporations, and insurers across Europe, North America, Asia, and Australia.
The centre operates as an interdisciplinary hub linking scholars from Judge Business School, Department of Applied Mathematics and Theoretical Physics, University of Cambridge, Department of Computer Science and Technology, University of Cambridge, Cambridge Institute for Sustainability Leadership, Centre for Science and Policy, University of Cambridge, and practitioners from World Economic Forum, International Monetary Fund, World Bank Group, Organisation for Economic Co-operation and Development, and United Nations Office for Disaster Risk Reduction. Its outputs inform stakeholders such as Lloyd's, HSBC, Barclays, Goldman Sachs, JP Morgan Chase, Deutsche Bank, BlackRock, Schroders, Aon, and Willis Towers Watson. Research themes intersect with work by Bank of England, European Central Bank, Federal Reserve System, Bank for International Settlements, International Association of Insurance Supervisors, and regulators including Financial Conduct Authority and Prudential Regulation Authority.
Founded in 2009 amid growing attention to systemic threats after events linked to Hurricane Katrina, the 2008 financial crisis, and pandemics like 2009 swine flu pandemic, the centre built on earlier risk scholarship from contributors such as Nassim Nicholas Taleb, Ian Goldin, Martin Richardson, and entities like Cambridge Risk Framework. Early collaborations included Lloyd's of London and Munich Re to quantify catastrophe risk. The centre expanded during crises including the 2010 Eyjafjallajökull eruption, the 2011 Tōhoku earthquake and tsunami, the 2014 Ebola epidemic in West Africa, and the COVID-19 pandemic, aligning work with World Health Organization and European Centre for Disease Prevention and Control.
The centre's research spans disaster risk, supply-chain resilience, and systemic financial risk with applications in sectors overseen by International Civil Aviation Organization, International Maritime Organization, International Energy Agency, and Food and Agriculture Organization. Topic areas include natural catastrophe modeling linked to United Nations Framework Convention on Climate Change, cyber risk assessments overlapping with National Institute of Standards and Technology, pandemic scenario work tied to Centers for Disease Control and Prevention, and geopolitical disruption studies referring to events such as the Ukraine crisis, Arab Spring, and Brexit referendum. Sectoral foci encompass banking and insurance risk relevant to Basel Committee on Banking Supervision, energy systems connected to European Network of Transmission System Operators for Electricity, manufacturing chains involving Toyota, Apple Inc., and Siemens, as well as logistics networks for Maersk, DHL, and FedEx.
Methodologies combine probabilistic catastrophe models influenced by practices at RMS (Risk Management Solutions), AIR Worldwide, and JBA Risk Management with agent-based modeling used by researchers at Santa Fe Institute and network analysis methods akin to studies from Max Planck Institute for Dynamics and Self-Organization. The centre integrates climate scenarios from Intergovernmental Panel on Climate Change reports, epidemiological models aligned with Imperial College London outputs, and economic shock propagation frameworks similar to those of National Bureau of Economic Research and International Monetary Fund working papers. Analytical tools draw on computational platforms from Microsoft Research, Google DeepMind, and open-source ecosystems such as R (programming language), Python (programming language), and libraries used by TensorFlow and PyTorch communities.
The centre offers executive education and bespoke training for leaders from World Bank, International Finance Corporation, African Development Bank, and corporate clients like BP, Shell, ExxonMobil, TotalEnergies, Siemens Energy. Coursework and short courses connect to degree programmes at Cambridge Judge Business School, MPhil in Risk and Disaster Reduction at the University of Cambridge, and professional accreditations with bodies such as Chartered Insurance Institute, Institute and Faculty of Actuaries, and Project Management Institute. Public seminars and workshops feature speakers from London School of Economics, Harvard Kennedy School, Stanford University, Yale School of Management, and think tanks including Chatham House and RAND Corporation.
Collaborative partners include insurers and reinsurers like Lloyd's of London, Munich Re, Swiss Re, and Hannover Re; financial institutions such as Barclays and Goldman Sachs; government agencies including UK Cabinet Office, US Department of Homeland Security, and Australian Department of Home Affairs; and international organisations like United Nations Development Programme, Organisation for Economic Co-operation and Development, and Asian Development Bank. Academic partnerships extend to Massachusetts Institute of Technology, Imperial College London, ETH Zurich, University of Oxford, Princeton University, Columbia University, University of Tokyo, and National University of Singapore.
Notable projects include global supply-chain disruption modelling informing responses to the COVID-19 pandemic, catastrophe loss estimates used by Lloyd's market participants, and resilience frameworks adopted by UN Office for Disaster Risk Reduction and European Commission initiatives. The centre's scenario analyses influenced corporate continuity planning at Maersk after the NotPetya cyberattack, informed energy security assessments during tensions related to Crimea crisis, and contributed to pandemic preparedness advised to World Health Organization and national public health agencies. Publications and briefings have been cited by Financial Times, The Economist, The Guardian, BBC, and policy reports from House of Commons select committees and European Parliament committees. The centre has received commissioning from governments, insurers, and multinationals to quantify tail risks for major infrastructure projects, financial portfolios, and transnational supply routes such as those crossing the Suez Canal and Strait of Hormuz.
Category:Research institutes of the University of Cambridge