TSUNAMI -- Linking Insurance and Science About TSUNAMI
Links to

The TSUNAMI Intiative
TSUNAMI aimed to improve the competitiveness of the UK insurance industry by using the UK science effort to improve the assessment of risk. TSUNAMI was funded by a consortium of companies from the UK insurance industry and the Treasury. The government funding was through the Sector Challenge led by the Department of Trade and Industry. The Consortium and the DTI committed £960,000 over three years to improve the competitiveness of the UK insurance industry by using science to improve the assessment of risk.

TSUNAMI seeks to bridge a communication gap
UK research institutions are acknowledged as being amongst the best in the world. However, there has only been a limited transfer of their knowledge and expertise to the insurance sector - an industry that relies heavily on the analysis of low probability events in the natural, economic and social environments.

Building a bridge
TSUNAMI worked to gain an understanding of the current state of scientific research in the UK and identify potential areas of application within the UK insurance industry. Research projects were developed through direct collaboration with the research community and through public announcements of opportunity for funding under TSUNAMI.

TSUNAMI Projects
The funds were mainly spent on applied research projects. These included UK flood risks, extreme weather events in Northern Europe, tsunamis and the economic impact of catastrophic losses. Details can be found within TSUNAMI Projects

Which Companies formed the Consortium?
The consortium of sponsoring companies comprised:

Two composite insurers
CGNU and Royal & Sun Alliance
Two broking firms
Benfield Greig and Guy Carpenter
Three Lloyd's managing agencies
Catlin, DP Mann and Wren

The initiative was managed by Dr. Dougal Goodman, who was Deputy Director (innovation) of the British Antarctic Survey (BAS). The TSUNAMI initiative operated from an office in Cambridge at BAS. A Management Board, consisting of representatives from each of the consortium companies, oversaw the initiative.

CGNU Plc Logo

Royal and SunAlliance

Benfield Greig

Guy Carpenter


DP Mann


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