Runhuan Feng

Runhuan Feng

PhD, FSA, CERA

Professor

Director of Actuarial Science

H.P. Petit Professorial Scholar

State Farm Companies Foundation Scholar

University of Illinois at Urbana-Champaign

Biography

Runhuan Feng is a Professor of Mathematics, Statistics, Industrial and Enterprise Systems Engineering. He has a wide spectrum of research interests in mathematics and economics of risk and uncertainty in the financial world. He has published extensively on top-tier actuarial and quantitative finance journals. He is an Associate Editor of North American Actuarial Journal, Methodology and Computing in Applied Probability, and Quantitative Finance and Economics.

As an applied scientist, Runhuan strongly believes that most interesting research problems are discovered in response to the changing needs of the industry and the society. He co-founded the Illinois Risk Lab, which facilitates research activities that integrate experiential learning for Illinois students and address industrial problems. Runhuan’s research has been recognized in the practitioners’ community through his applied technical contributions and presentations as invited speakers at industry conferences. He is also a frequent consultant to professional organizations, non-profit organizations and start-ups.

Interests

  • Actuarial Science
  • Risk Analytics
  • Quantitative Finance
  • Pension and Retirement Planning
  • FinTech and InsurTech Innovations

Education

  • Ph.D. in Actuarial Science, 2008

    University of Waterloo, Ontario, Canada

  • M.Sc. in Actuarial Mathematics, 2005

    Concordia University, Montreal, Canada

  • B.Sc. in Statistics & B.Econ. in Insurance, 2003

    Nankai University, Tianjin, China

Experience

 
 
 
 
 

Professor

Mathematics, Statistics, Industrial & Enterprise System Engineering, University of Illinois at Urbana-Champaign

Aug 2020 – Present
 
 
 
 
 

Visiting Professor

Technical University of Munich, University of New South Wales, Stanford University

May 2019 – Mar 2020
 
 
 
 
 

Vice Chair, Elected Member, Education and Research Council

Society of Actuaries

Nov 2018 – Present
 
 
 
 
 

Associate Professor

Mathematics, Statistics, Industrial & Enterprise System Engineering, University of Illinois at Urbana-Champaign

Sep 2016 – May 2020
 
 
 
 
 

Director of Actuarial Science

Mathematics, University of Illinois at Urbana-Champaign

Jan 2016 – Present
 
 
 
 
 

Assistant Professor

Mathematics, University of Illinois at Urbana-Champaign

Jan 2013 – May 2016
 
 
 
 
 

Assistant Professor

Mathematical Sciences, University of Wisconsin-Milwaukee

Aug 2008 – Dec 2012

Professional Designations

Fellow of the Society of Actuaries

Chartered Enterprise Risk Analyst

Publications and Consulting

Cyber Risk Assessment

New cyber risk assessment models based on cybersecurity analysis of vulnerability and threat.

Decentralized Insurance and Risk Sharing

Peer-to-peer risk sharing and other decentralized designs.

Infectious Disease Risk Modeling and Planning

Proof-of-concept modeling of infectious disease insurance; pandemic contingency planning and response strategies

Financial Market and Derivatives

Winning and losing streaks in financial markets; conditional Asian options

Risk Aggregation and Capital Allocation

The new approach extends the current practice of allocating diversification benefits and provides consistency between risk aggregation and capital allocation.

Equity-Linked Insurance

Modeling, pricing, valuation and risk management of equity-linked insurance

Nested Stochastic Modeling

Research studies on computational methodologies to accelerate run time and improve model efficiency for nested Monte Carlo simulations

Pension-Related Public Policy Analysis

Quantitative assessment of pension-related public policies and feasibility study of market solutions

Ruin and Solvency

Ruin probability of insurance companies with given asset and liabilitiy structure

Contact

We are open to professional partnership and consulting projects involving significant scientific challenges. If you are interested in collaboration, please send a message by completing the form below.