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Emerging Risk Assessment and Underwriting

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The Emerging Risk Group (ERG) was developed by founding members Dr. Martin Mullins and Dr. Finbarr Murphy in 2007, to develop a new context of academic research that was informed by private and public knowledge requirements. The first focus of the group concerned risk metrication in the context of insurance attentive to a changing private and public emerging risk environment and market. Since that time the group has collaborated with SUN and grown in strength to offer a dynamic and unique research model. One of the key strengths of the ERG is in its ability to respond to an ever-changing dynamic and fluid array of emerging risk fueled by a new paradigm of emerging technologies. To respond to this new phenomenon of emerging technological risk the group has built a collaboration of members that collectively present one of the most unique risk focused knowledge basis and research paradigms on offer today. ERG has built upon its key areas of insurance, nanotechnologies and Cloud LSVA to be a part of the new European funded Horizon 2020 consortia concerning the development of Vision Inspired Driving Assistance Systems (Vi-DAS).

Dr Martin Mullins is Head of Department Accounting and Finance at the Kemmy Business School, University of Limerick and is a Senior Lecturer in Risk and Insurance. He is currently working on a number of insurance related research projects, including four EU Commission funded projects in the area of emerging technologies and risk transfer. Two of these focuses on nanotechnology, including http://www.sun-fp7.eu/ with the others on assisted driving systems, namely VIDAS and Cloud-LSVA funded under the MG3.6 and ICT 16 calls respectively. Dr Mullins maintains strong links with the insurance industry and works closely with Lloyd’s of London and XL Catlin on emerging risk. High impact outputs from this research include Mullins, Martin, et al. "The insurability of nanomaterial production risk." Nature nanotechnology 8.4 (2013): 222-224. His work also encompasses the area of applied ethics as it pertains to new technologies. In the field of Applied Ethics, Dr Mullins works closely with the insurance industry and lectures on Applied Ethics in the Insurance Industry.

Dr Finbarr Murphy is a Senior Lecturer in Quantitative Finance in the Kemmy Business School, University of Limerick. He is Principal Investigator in three European Commission H202 research projects, two in the area of autonomous vehicle development and one in Nanotechnology Risk. With a background in computer engineering, his research uses machine-learning techniques to estimate the changing risk profile produced by emerging technologies. He has extensive contacts in the finance and insurance industry and uses these links to both publish research and consult both public and private entities. Finbarr is also a member is the European Road Transport Research Advisory Council (ERTRAC) and collaborates with a wide variety of global stakeholders. Finbarr is also a Fulbright Scholar.