Extreme Value Theory Approaches to Insurance in a Catastrophic Environment. Recent decades are marked by numerous significant natural (climate change) or man-made (financial crises) catastrophes, which have significantly altered the landscape of the insurance industry. These have potentially significant negative impacts on the availability and affordability of insurance, and hence on the capability and capacity of households and businesses to take risks and be competitive. This project endeavour ....Extreme Value Theory Approaches to Insurance in a Catastrophic Environment. Recent decades are marked by numerous significant natural (climate change) or man-made (financial crises) catastrophes, which have significantly altered the landscape of the insurance industry. These have potentially significant negative impacts on the availability and affordability of insurance, and hence on the capability and capacity of households and businesses to take risks and be competitive. This project endeavours to establish progressive approaches (using extreme value theory) to the challenges faced by insurance in such a catastrophic environment. They will enhance the financial stability and competitivity of the Australian economy, and further establish its global leadership in dealing with climate changes and catastrophes.Read moreRead less
Better communication to solve the under-saving, under-spending puzzle. This project expects to develop evidence-based communication tools that promote life-time financial security, specifically investigating the puzzling and harmful tendency of people to under-save while working and under-spend while retired. To achieve this goal, it will design and experimentally validate innovative boosts to superannuation communication including income projections and goal-setting targeted at common misconcep ....Better communication to solve the under-saving, under-spending puzzle. This project expects to develop evidence-based communication tools that promote life-time financial security, specifically investigating the puzzling and harmful tendency of people to under-save while working and under-spend while retired. To achieve this goal, it will design and experimentally validate innovative boosts to superannuation communication including income projections and goal-setting targeted at common misconceptions and biases. It will use new structural modelling techniques to measure welfare changes. The expected outcomes are rigorous explanations for the saving-spending puzzle, and robust communication strategies for superannuation funds that will benefit workers and retirees by raising financial capability and confidence.Read moreRead less
Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use ad ....Understanding and overcoming confusion in consumer financial decisions. This project aims to develop consumer-centred approaches to reducing the harmful effects of confusion in financial decisions by studying superannuation investment and home loan decisions where confused choices are individually and collectively costly. The project intends to develop comprehensive models to capture the full complexity of financial products and the diverse preferences and capability of consumers, then to use advanced statistical methods to estimate the benefits of clearer decision-making. The outcomes of this project includes new models of complex financial decisions, and a better understanding of where confusion arises and the effects it may have. Decreased confusion will raise financial well-being and help communities become more resilient to financial shocks.Read moreRead less
Governance and the investment performance of not-for-profit endowments. Governance and the investment performance of not-for-profit endowments. This project aims to examine the relation between performance and governance for Australian not for profit (NFP) endowments. The not-for-profit sector now accounts for over 4 per cent of the gross domestic product (GDP) (almost $43 billion) and employs volunteers who contribute an additional $14.6 billion in unpaid work. Little research has been done on ....Governance and the investment performance of not-for-profit endowments. Governance and the investment performance of not-for-profit endowments. This project aims to examine the relation between performance and governance for Australian not for profit (NFP) endowments. The not-for-profit sector now accounts for over 4 per cent of the gross domestic product (GDP) (almost $43 billion) and employs volunteers who contribute an additional $14.6 billion in unpaid work. Little research has been done on the investment performance of the endowments held by NFPs, even though this is an important contributor to their revenues. Expected outcomes include a publicised set of principles and periodically updated index of endowment governance quality, and attendant improvement in NFP investment management.Read moreRead less
Quantitative Analysis of Systemic Risk in Insurance. This project aims to achieve a contemporary and comprehensive quantitative analysis of systemic risk in insurance. The significance lies in narrowing the gap between the studies of systemic risk in banking and insurance. Expected outcomes include the construction of insurance/reinsurance networks to formalise systemic risk, the analysis of the role of network integration, and the development of pricing frameworks to entail a systemic risk prem ....Quantitative Analysis of Systemic Risk in Insurance. This project aims to achieve a contemporary and comprehensive quantitative analysis of systemic risk in insurance. The significance lies in narrowing the gap between the studies of systemic risk in banking and insurance. Expected outcomes include the construction of insurance/reinsurance networks to formalise systemic risk, the analysis of the role of network integration, and the development of pricing frameworks to entail a systemic risk premium. The project will benefit insurers and regulators by providing a forward-looking approach to monitoring and assessing insurance risk during a systemic crisis. These important original contributions to insurance risk management will help establish Australia’s global leadership in systemic risk.Read moreRead less
Forecasting and Financing Healthy Ageing and Aged Care in Australia. This project aims to quantify future risks of chronic illness and functional disability in retirement, proposing financing strategies aimed at enhancing healthy ageing, lifestyle quality and aged care provisions. The project devotes to devising a framework integrating government and private sector participation in funding health costs which increase significantly in older ages. The expected outcome includes sustainable retireme ....Forecasting and Financing Healthy Ageing and Aged Care in Australia. This project aims to quantify future risks of chronic illness and functional disability in retirement, proposing financing strategies aimed at enhancing healthy ageing, lifestyle quality and aged care provisions. The project devotes to devising a framework integrating government and private sector participation in funding health costs which increase significantly in older ages. The expected outcome includes sustainable retirement income scenarios for easing fiscal pressure from social initiatives such as age pension and aged care financing at the same time improving living standards for seniors. The project expects to place Australia at the forefront of research on sustainable solutions to financial challenges facing retirees.Read moreRead less
Nanoengineered, Encapsulated Catalysts from Fly Ash Waste. This project aims to deliver advanced catalysts and novel catalyst synthesis methods from the use of iron-rich fly ash, an otherwise abundant valueless waste with projected steady growth across Australia and globally. The as-synthesised catalysts are expected to be applicable to and exhibit excellent activity in the production of green hydrogen and renewable bio-fuels from lignocellulosic waste. These efforts are significant and benefici ....Nanoengineered, Encapsulated Catalysts from Fly Ash Waste. This project aims to deliver advanced catalysts and novel catalyst synthesis methods from the use of iron-rich fly ash, an otherwise abundant valueless waste with projected steady growth across Australia and globally. The as-synthesised catalysts are expected to be applicable to and exhibit excellent activity in the production of green hydrogen and renewable bio-fuels from lignocellulosic waste. These efforts are significant and beneficial in restoring the manufacturing capability of Australian industry, driving Australian industry towards the development of a circular economy for the appropriate management of solid waste, as well as for a seamless introduction of renewable and clean energy sources to address the pressing climate change.Read moreRead less
Chemicals in compostable food contact paper packaging materials. The aim of this project is to understand the presence of persistent chemicals in recyclable and compostable food contact materials (FCMs). These types of products are destined for recycling or biowaste streams that bridge the gap from take-make-dispose and into a circular economy. Currently, the knowledge of the chemicals in these products is limited but we need to ensure that they are safe and do not unnecessarily contaminate reso ....Chemicals in compostable food contact paper packaging materials. The aim of this project is to understand the presence of persistent chemicals in recyclable and compostable food contact materials (FCMs). These types of products are destined for recycling or biowaste streams that bridge the gap from take-make-dispose and into a circular economy. Currently, the knowledge of the chemicals in these products is limited but we need to ensure that they are safe and do not unnecessarily contaminate resource recovery streams. It is expected that this project will develop a framework that could be used by industry and government to prevent chemicals of concern persisting in a circular economy, providing environmental and economic benefits through reduced risk of chemical exposure and unnecessary remediation costs.Read moreRead less
Shock model-based framework for modelling correlated large losses. This project aims to develop aggregate risk models by utilizing shock models in reliability theory. It intends to provide a new alternative approach which is more realistic and also mathematically tractable in order to estimate various types of quantities in (re)insurance and operational risk management. The expected outcome includes enhanced capacity by advanced analytical tools to assess correlated and large risks, thus assisti ....Shock model-based framework for modelling correlated large losses. This project aims to develop aggregate risk models by utilizing shock models in reliability theory. It intends to provide a new alternative approach which is more realistic and also mathematically tractable in order to estimate various types of quantities in (re)insurance and operational risk management. The expected outcome includes enhanced capacity by advanced analytical tools to assess correlated and large risks, thus assisting in the management of key risks and improving the effectiveness of risk management. This should benefit the stability of the financial and regulatory systems where large and dependent risks are concerned.Read moreRead less
Upcycling of mixed plastics from bioprocessed municipal solid waste. This project aims to develop a scalable catalytic process that can sustainably upcycle mixed plastics from bioprocessed municipal solid waste into hydrogen and valuable carbon nanotube products. The process will integrate pyrolysis, reforming, and carbon growth technology into a single reactor, enabled by the rational design of multifunctional catalysts. Through computational process simulation and optimization, life cycle anal ....Upcycling of mixed plastics from bioprocessed municipal solid waste. This project aims to develop a scalable catalytic process that can sustainably upcycle mixed plastics from bioprocessed municipal solid waste into hydrogen and valuable carbon nanotube products. The process will integrate pyrolysis, reforming, and carbon growth technology into a single reactor, enabled by the rational design of multifunctional catalysts. Through computational process simulation and optimization, life cycle analysis, and techno-economic assessment, investment and operational costs at larger scale are anticipated to be greatly reduced. By mitigating mixed waste plastics from going to landfills, the project will also provide significant benefits to clean energy production and advanced material manufacturing in Australia. Read moreRead less