Teach an innovative curriculum that develops technical skills, financial expertise, and business insight.
- Climate risk modeling
- Financial risk assessment
- Product innovation
- Data science and AI
- Undergraduate and graduate students
Institute for Risk Management and Insurance Innovation
Developing creative solutions for emerging threats to society and training the next generation of risk management and insurance professionals
What is IRMII?
The Institute for Risk Management and Insurance Innovation (IRMII) is a multidisciplinary research and innovation hub, bringing together student researchers, academic leaders, and industry professionals to develop creative solutions for managing the financial risks arising from a growing number of threats, ranging from extreme weather to cybersecurity, faced by communities across the globe.
Our Impact
Leading innovation in risk management education and research at UNC Chapel Hill
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40Industry Partners
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20Research Projects
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35Faculty and Researchers
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6Specialized Courses
Goals
Innovative Education
Cutting-Edge Research
Produce novel research responsive to industry challenges.
- Cyber
- Earthquakes
- Flooding
- Infectious Disease
- Liability
- Severe Convective Storms
- Wildfire
Industry Engagement
Introduce students to commercial perspectives and opportunities through active engagement with industry.
- Over 40 industry partners
- Rigorous internships
- Mentoring opportunities
- Certification program partners
Research Projects
We work collaboratively across industry and academia, fostering deep collaboration for interdisciplinary research. Our goal is not just to advance understanding, but to accelerate the application of that knowledge to shape resilient communities, systems, and institutions.
Flood Risk
IRMII researchers are quantifying how uninsured flood losses create systemic financial risk by linking property damage to homeowner defaults, lender exposure, and potential impacts on the broader housing finance system. Using novel machine-learning approaches, researchers estimate the risk of mortgage default and abandonment to help inform smarter interventions and enhance disaster resilience.
Western Water Rights
IRMII researchers are developing sophisticated models to quantify and manage the financial risks that droughts and extreme weather pose to California’s water users and electric utilities. By simulating regulatory, hydrologic, and market dynamics, this work supports innovative financial instruments—like index insurance and water market forecasting tools—to help protect investors, lenders, and insurers from escalating climate-driven volatility.
Wildfire Risk and Mitigation
IRMII researchers are modeling how wildfire risk premiums and insurance gaps influence decisions about mitigation and rebuilding, with downstream impacts on mortgage defaults and lender exposure. By linking wildfire risk, property-level actions, and mortgage performance, this work informs smarter risk-sharing among property owners, lenders, and insurers.
Systemic Cyber Risk
IRMII researchers model and mitigate the impact of potential CAT‑5 cyber events, high‑severity, system‑wide cyber catastrophes with the potential to cause tens of billions of dollars in losses either due to business interruptions or data breaches. By combining predictive analytics, AI‑driven prioritization, and active threat intelligence, IRMII aims to reduce the scale and cost of the next billion‑dollar cyber disaster.
Supply Chain Risk Along the Mississippi River
IRMII researchers are modeling how droughts along the Mississippi River disrupt inland shipping and agricultural markets by reducing both crop yields and barge capacity. New tools developed will inform smarter pricing of commodity derivatives and insurance, and offer a blueprint for managing climate-driven disruptions across inland waterway systems affecting global supply chains.
A Message From Our Director
Our goals are to prepare the next generation of risk management and insurance professionals and to develop novel solutions for society’s growing number of current and emerging threats.
Join Our events
May 21, 2026
New York, NY
IRMII Insurance Innovator of the Year
The IRMII Innovator of the Year Award celebrates bold ideas and transformative leadership that are reshaping the risk and insurance landscape. Presented annually by the UNC Institute for Risk Management and Insurance Innovation (IRMII), the award honors an industry leader whose visionary work is redefining what’s possible, advancing new products, technologies, business models, and/or partnerships that make societies more resilient in the face of emerging risks.
Latest News
Flooding | July 15, 2025
New study targets past flooding as key to helping property owners assess climate threats
The number of structures at risk of flooding in the United States could be higher than previously thought, according to a study.
Flooding | July 15, 2025
UNC study sees flooding outside NC high-risk areas. Can AI reveal blind spots?
Using flood insurance claims isn’t enough to capture the true scale of building flooding and can mislead about future risks, UNC-Chapel Hill researchers say.
Flooding | September 16, 2024
Computer models evaluate risks before floods
Our faculty research focuses on the frequency and severity of extreme weather events and their implications.
Weather Events | July 11, 2025
Mercury Insurance’s Climate Science Team Aims to Say ‘Yes’ to High-Risk Areas
Bennett, newly appointed director of climate and catastrophe science, will build and lead a team focused on identifying ways Mercury and its policyholders can be more resilient in the face of increasingly severe climate-driven weather events.
North Carolina | September 11, 2024
Statewide Impact of Carolina’s Research
Every day Carolina researchers make discoveries with impact that save and transform lives far beyond the confines of our campus.
IRMII | August 14, 2024
UNC-Chapel Hill Launches the Institute for Risk Management and Insurance Innovation
The University of North Carolina at Chapel Hill is launching the Institute for Risk Management and Insurance Innovation, a new interdisciplinary research and innovation hub that will leverage the expertise of faculty and students from various disciplines across campus to address complex challenges in risk management and insurance.