Dr Raghav Pant, Senior Postdoctoral Researcher for the ITRC, won the prestigious Lloyd’s Science of Risk Prize 2016 in Systems Modelling. His research paper explored how infrastructure systems modelling can help businesses improve their infrastructure risk management, and was published in collaboration with Professor Jim Hall (Director of ECI, University of Oxford) and Dr Simon Blainey (Lecturer in Transportation, University of Southampton).
Modelling tools for risk assessment incorporate the interactions between infrastructures, people and economy, and assist improved planning for these incidents. Dr. Pant’s research provides advanced analytics, with better data for insurers on the vulnerabilities of their insured assets and connected networks. With his unique modelling, it is possible to look at the impact of different shocks on infrastructure networks, and to use this information to identify, for example, critical assets or the particular risks associated with flooding and other extreme events.
These insights can then be applied widely: improving asset management programmes, revising risk registers or informing investment decisions.
The Lloyd’s prize is awarded to the research paper that is judged to best inform the insurance industry on risks and risk management.