Please find out about the third edition of the Echo magazine!
--- Editorial by Erwann Michel-Kerjean
--- Experts views on today's issues : David Stephenson and Marcin Zielinski
--- Helping the world advance : Rita Yu and Julie Péron
--- Researcher's background : Jan-Hendrik Hehemann
--- Results and agenda
Honored as a Young Global Leader by the World Economic Forum (Davos), Dr Erwann Michel-Kerjan teaches at the Wharton Business School (USA) and is research associate at the Ecole Polytechnique (France).
The series of truly devastating natural disasters in recent years demonstrated we have entered a totally new era of catastrophes. Whether we suffer from them as direct victims or witness them live on TV, none of us can remain indifferent. Globalization has brought immense benefits to billions of people. But because of highspeed economic, social and demographic development in many parts of the world exposed to natural hazards, those “natural” catastrophes are becoming less and less natural.
As such, the 21st century will either be the best century ever, where we overcome the great challenges of better dealing with large-scale disasters, or it will be a lost century because we fail to learn and act.
If we fail, these events will not only create massive destruction and impede economic growth in rich countries, they will become true poverty traps in countries where preparedness and risk transfer instruments are terribly lacking. In the interdependent world we all live in today, this would have major ripple effects around the globe.
As such, better risk assessment, better risk management and better risk financing will be critical in the years to come. There are also gigantic unrevealed opportunities for innovation and value creation here: new technologies, new insurance products, and improved public policies. Faithful to its vision of leveraging the best knowledge to help make informed decisions, the AXA Research Fund has been very active in supporting state-of-the-art research in this multi-disciplinary and growing sphere.