Excursion to ERGO Nuremberg

After roughly two years of online events, on 3rd of June, 13 TUM students accompanied by TUM representatives participated in the first of hopefully many more in-person events offered by ERGO: An excursion to ERGO Nuremberg on the topic “Revolutionizing the insurance market: A product life cycle”. Throughout the day, five interesting presentations given by ERGO representatives and a visit of the ERGO call center took place. 

After a very warm welcome at Nuremberg, the first two talks gave an overview over the health insurance products and their calculation. The highlight of these two talks was the presentation of a supplementary dental insurance that can be bought after a claim has happened. Then, John-Paul Pieper, a member of the management board, held a very impressive and informative presentation about sales strategies of ERGO products and was thereafter available for questions during the lunch break in which a delicious buffet was set up. After the break, the students were given a tour of the call center rooms and learned how the utilization of the call center is estimated with the help of call distributions. The last talk was about the use of artificial intelligence within customer service and demonstrated the growing importance of machine learning techniques in the insurance industry.

Moreover, during the event one could feel that both ERGO representatives and TUM students tremendously enjoyed the in-person event and the networking opportunities.

All in all, a successful day! Many thanks to ERGO, the ERGO Activity Team and the TUM Chair of Mathematical Finance for making this event possible!


Written by: Katharina Papst, TUM B.Sc. Mathematics student & excursion participant.

Prof. Dr. Matthias Scherer is DAV Trusted Lecturer

The examination boards of the German Actuarial Association (DAV) for the subjects "Insurance Mathematics" and "Financial Mathematics and Risk Management" confirmed the activity of Prof. Dr. Matthias Scherer as DAV Trusted Lecturer (DAV-Vertrauensdozent) for the next three years. This implies that we are allowed to recognize partial examinations for becoming an actuary on the basis of lectures in the Master "Mathematical Finance and Actuarial Science". Further information can be found here.

11th Conference in Actuarial Science and Finance in Samos

After almost two years of online events and gatherings, one of the first large in-person conferences took place in May 2022 on the Greek island of Samos, namely the 11th Conference in Actuarial Science and Finance organized jointly by University of the Aegean, Katholieke Universiteit Leuven, Kobenhavns Universitet and New York University.

This conference is a well-established bi-annual event bringing together top researchers and practitioners from around the world. At the current edition, three members of the ERGO Center of Excellence in Insurance at the Chair of Mathematical Finance were in attendance, presenting their work on various aspects of actuarial science and finance:

·         Francesco Ungolo presented his work on “Estimation, Comparison and Projection of Multi-factor Age-Cohort Affine Mortality Models” (joint work with Michael Sherris, Len Garces, Yuxin Zhou)

·         Yevhen Havrylenko gave a presentation about “Risk-sharing in equity-linked insurance products: Stackelberg equilibrium between an insurer and a reinsurer” (joint work with Maria Hinken and Rudi Zagst)

·         Gabriela Zeller presented her work on “Optimal price structure of cyber insurance policies with risk mitigation services” (joint work with Matthias Scherer) - awarded 1st Prize of Best Presentation Awards for Young Researchers

Overall, the five-day conference programme included a plethora of interesting talks by top researchers from international universities, yet leaving enough time for in-depth scientific discussions as well as getting to know the island of Samos on a joint excursion.

Best presentation award at the 11th Conference in Actuarial Science and Finance in Samos

The Conference in Actuarial Science and Finance takes place every two years as part of a joint collaboration between the University of the Aegean, Katholieke Universiteit Leuven, Kobenhavns Universitet and New York University. It is a forum for state-of-the-art results in the areas of insurance, finance and risk management, and attracts top academicians and practitioners from every corner of the world.

The scientific committee of the 11th Edition of the conference, held in Karlovasi (island of Samos, Greece) awarded Gabriela A. Zeller, PhD candidate at Chair of Mathematical Finance of the Technical University of Munich, with the 1st prize of the Best Presentation Awards for young researchers. Her joint work with Prof. Matthias Scherer (TUM) titled “Optimal price structure of cyber insurance policies with risk mitigation services” analyses under which conditions it can be profitable for an insurance company to subsidize pre- and post-incident services within cyber insurance policies.

Quant Finance Master’s Guide 2022

The professors of our department are always working to make the Master's programme "Mathematical Finance and Actuarial Science" visible in international rankings. We are very pleased that the master's programme is the only German academic programme to be listed in the Risk Magazine ranking ( ). You can find out whether the TU Munich is actually the best German university for prospective quants on the website of efinancialcareers ( ).


Adjunct professorship at the Technical University of Munich

At the suggestion of the Faculty of Mathematics, PD Dr. Aleksey Min was appointed as an apl. professor at the Technical University of Munich in February 2022. Our chair congratulates Prof. Dr. Aleksey Min on this title and wishes him further success in research and teaching.


Article on Cyber Insurance awarded FIRM Yearbook Award 2021

As every year, the Frankfurt Institute for Risk Management and Regulation (FIRM, e.V.) has published a yearbook with numerous invited expert contributions (accessible here: ).

The article contributed by Gabriela Zeller and Prof. Dr. Matthias Scherer (both at the Chair of Mathematical Finance) on the topic “Cyber Insurance: An integral component of Cyber Risk Management” has been awarded the Yearbook Award 2021 by a commission of experts from academia and industry.

The article surveys today’s cyber insurance market in terms of products and types of coverage and explains which factors determine a company’s risk category and, hence, insurance premium. Furthermore, it describes limits of insurability of cyber risk and highlights the influence of `silent cyber’ on traditional insurance policies.

The prize was officially awarded during the hybrid annual FIRM event in autumn 2021.

TopMath Study Award für Ben Spies

Ben Spies, Doktorand am Lehrstuhl für Finanzmathematik und betreut von Professor Rudi Zagst, wurde zum Abschluss des Elite-Masterstudiengangs im TopMath-Programm mit dem TopMath Study Award ausgezeichnet. Der mit 500 Euro dotierte Preis wurde Ben Spies für hervorragende Leistungen in den Modulen des Studiengangs, wo über die Vorträge im Rahmen der Independent Studies und über die Masterarbeit auch aktuelle Ergebnisse seiner gemeinsamen Forschung mit Professor Zagst und Professor Marcos Escobar-Anel einfließen, verliehen.

Preis für gute Lehre der Fachschaft Mathematik

Die Studierendenvertretung der Fachschaft Mathematik hat, basierend auf den Lehrevaluationen, Herrn Prof. Zagst und Herrn Dr. Wahl für die Vertiefungsvorlesung Applied Risk Management, Frau Dr. Fernandez für den Übungsbetrieb zu Insurance Mathematics sowie Herrn Kschonnek für den Übungsbetrieb zu Fixed Income Markets für besonders gelungene Lehre im Sommersemester 2021 ausgezeichnet. Herzlichen Glückwunsch!

Andreas Lichtenstern erhält GAUSS-Nachwuchspreis für herausragende Doktorarbeit

Die Deutsche Gesellschaft für Versicherungs- und Finanzmathematik e.V. (DGVFM) und die Deutsche Aktuarvereinigung e.V. (DAV) haben am 08. Juni 2021 den renommierten GAUSS-Preis und drei GAUSS-Nachwuchspreise für herausragende wissenschaftliche Arbeiten aus der Versicherungs- und Finanzmathematik verliehen. Das hochrangige Expertengremium aus Wissenschaft und Praxis kürt mit den Preisen Facharbeiten, die eine Brücke zwischen wissenschaftlicher Qualität und hoher Praxisrelevanz schlagen.

Andreas Lichtenstern wurde der GAUSS-Nachwuchspreis für seine Dissertation „Optimal Investment Strategies for Pension Funds“ verliehen. „Die besondere Innovation dieser Arbeit liegt darin, dass sie bislang offene mathematische Probleme zu optimalen Investitionsstrategien für Pensionsfonds löst und diese auf das als Nahles-Rente bekannt gewordene Sozialpartnermodell anwendet“, lobt Prof. Müller die Doktorarbeit.

News – Tandem Experience Stories

Read our newly established tandem interviews, where students and doctoral candidates as well as ERGO professionals give an insight into their personal careers and share the joint experiences they made as part of ERGO Center of Excellence! You can find the tandem interviews here.