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AM Best Names Three Finalists in Student Challenge Competition
February 8, 2021 GMT
OLDWICK, N.J.--(BUSINESS WIRE)--Feb 8, 2021--
AM Best has selected students from St. John’s University and the University of Wisconsin-Madison as finalists for its 2021 Student Challenge competition, which tasked risk management and insurance students with creating innovative solutions for catastrophe risks. The three finalists will present their risk solutions at the 28 th Review & Preview Conference on March 15-17. Conference attendees will vote for the winner.
The University of Wisconsin distinguished itself by having two teams selected as finalists. Colin Lane and Kohta Kumazaki were chosen for their submission, “Localized Parametric Insurance Technology,” which proposes using highly localized weather data readers to accurately assess basis risk for parametric crop insurance. Andrew Shaw and Madison Wescott, also of UW-Madison, developed “Emergency Evacuation Assistance,” a parametric insurance product that helps families pay expenses related to emergency evacuation.