CREAR (Center of Research in Econo-finance and Actuarial sciences on Risk / Centre de Recherche Econo-financière et Actuarielle sur le Risque) aims at strengthening the exchange between academics and professionals who also strive for excellence in their modeling of risks, and fostering research on this topic.
Research in risk management needs to develop toolkits based on fundamental research and various fields of expertise. ESSEC combines many of those, which is a big strength for CREAR. These main research fields are :
Those fields overlap different departments at ESSEC, namely: Accounting and Control, Economics, Finance, IDS. They involve various members of these departments in a transversal way.
It is also a support for the actuarial track and the Quantitative Risk Management track within the PhD in Finance.
The main focus of CREAR towards professionals and financial institutions is to create an efficient organization dealing with
1. quantitative research on financial and insurance risks
2. focused on (re)insurances and bank-insurances
3. in the background of the new risk based regulation (Solvency 2 Pillar 1 and ORSA , Swiss Solvency Test, Risk Based Capital from NAIC)