Dr. Simon Schnürch receives GAUSS Young Investigator Award for outstanding Doctoral Thesis

Two Recognitions at once for Financial Mathematics in Kaiserslautern

Press Release / May 31, 2023

The German Society of Actuaries and Financial Mathematicians (DGVFM) and the German Actuarial Association (DAV) have awarded the prestigious GAUSS Prize and three GAUSS Young Investigator Awards for outstanding scientific work in actuarial and financial mathematics on Wednesday, May 17, 2023. The Fraunhofer Institute for Industrial Mathematics ITWM also has reason to be pleased: Dr. Simon Schnürch is being honored for his dissertation. At the same event Prof. Dr. Ralf Korn was reelected as DGVFM chairman.

With about 6300 members, the DGVFM is one of the largest scientific associations in Germany. It is concerned with research, education and training as well as transfer in the fields of financial and actuarial mathematics and represents in particular the contact between the universities and the mathematicians in the financial and insurance industry. The DAV creates the framework conditions for a professionally sound professional education of actuaries and contributes its expertise to legislative processes for the benefit of consumers and companies.

Improve existing mortality models

Every year the high-ranking committee of experts from science and practice jointly selects technical papers that bridge the gap between scientific quality and high practical relevance. Schnürch, who worked in the department »Financial Mathematics« at Fraunhofer ITWM during his PhD thesis, receives one of three GAUSS Young Investigator Awards, each endowed with 2,000 Euros, for his thesis »Mortality Modeling: Machine Learning and Mortality Shocks«. It provides an overview of stochastic mortality models, including various calibration and prediction methods. As a new contribution to the literature, machine learning methods are applied, providing new perspectives on the data and improved forecasts. »The mix of creative modeling, consideration of mathematical and statistical aspects, innovative analysis of the impact of the first Covid-19 year on the future, impressive numerical analyses, and powerful graphics is impressive«, the judges' statement said.

Dr. Simon Schnürch — © Fraunhofer ITWM
Simon Schnuerch

Prof. Dr. Ralf Korn reelected as Chairman

The award ceremony for the GAUSS Young Investigator Awards took place during the virtual DGVFM General Meeting. Schnürch's PhD supervisor Prof. Korn also received an appreciation: The Scientific Advisor in the Department of »Financial Mathematics« was elected to head the association for the next two years. He already chaired the association from 2015 to 2019 as well as 2021.

Press Release

Dr. Simon Schnürch receives GAUSS Young Investigator Award for outstanding Doctoral Thesis

Two Recognitions at once for Financial Mathematics in Kaiserslautern

Improve existing mortality models

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Prof. Dr. Ralf Korn reelected as Chairman

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