The TSUNAMI initiative

Background

The apparent failure of the UK to translate its world-leading performance in pure science into tangible economic benefits has been the subject of discussion in government, business and the academic sector for many years. This challenge has been addressed in the Government’s competitiveness white paper: "Our Competitive Future – Building the Knowledge Driven Economy".

Introduction

The TSUNAMI initiative was set up in response to the Foresight programme, an initiative by the UK Government to stimulate an improved dialogue between the science community and industry.

TSUNAMI has a three-year programme, jointly funded by a consortium of companies from the UK insurance industry and the DTI’s Sector Challenge,

TSUNAMI aims to set up a process to promote an improved dialogue between the UK insurance industry and the UK science base and improve the competitiveness of the insurance industry by using the UK science effort to improve the assessment of risk

Structure

TSUNAMI is controlled by a Management Board, chaired by it founder Dougal Goodman from the British Antarctic Survey and comprises senior management representatives from each of the consortium companies.

Lance Garrard and James Orr have been seconded from within the consortium companies and are responsible for the day-to-day running of the initiative.

TSUNAMI finances major research projects that have the potential of delivering tangible business benefits to the insurance industry. A technical Advisory Committee from the insurance industry and a Scientific Advisory Committee consider proposals for research.to ensure that the projects have a practical application and are at the leading edge of scientific research.

Once underway, an insurance industry representative supports each project to ensure that the research matches the expectations and business needs of the sponsoring companies.

TSUNAMI additionally holds related workshops, lectures and conferences to both scientists and the insurance community

Attention

Current projects commissioned by TSUNAMI are attracting the attention of the media world-wide. In January 1999 the issue of a forecast of land-falling hurricanes in the USA was the subject of interviews on several world-wide television networks; several international radio interviews; a number of newspaper articles.

TSUNAMI is working very hard to bring underwriters, brokers and scientists together to bridge the gap between academia and the insurance industry

For more information contact: