How can an insurance company account for every possible risk?

(Hint: It can't, but we can help it come close.)

Firewall is a graduate thesis project by four Columbia University students who were tasked to help calculate TCoR by a large insurance company. During our research, we devised a framework for intentifying and cataloging organizational risk by analyzing vulnerabilities from the perspective of business process. We believe that organizations can more accurately calculate TCoR by using a framework such as ours to identify hidden threats by taking a deeper dive into their business processes.

By applying principles and ideas from data governance, object-oriented programming, and risk management, we're aiming to redefine how TCoR is measured.


Meet the Team

Paul Bennett, PhD

Paul is a CERTIFIED FINANCIAL PLANNER™ professional (CFP®), Chartered Financial Consultant (ChFC®), and Managing Director of the United Capital Financial Advisers regional office in Great Falls, Virginia. Paul is also an author and recently published his latest book, The Money Navigator. He holds a PhD in economics, from SMC University; an MS in finance, from Indiana University; and a BA from the University of Florida. He will complete a postdoctoral MS in applied analytics from Columbia University in 2017.

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Joe Gonzalez

Joe is a career software engineer and data analyst, having worked in the high-tech, retail, and most recently in the healthcare industries. His professional and academic interests include natural language processing and deep learning, having recently co-written an article on applying Benford's Law to training artificial neural networks. He holds a BA in Political Science from Stony Brook University and is completing an MS in applied analytics from Columbia University in 2017.

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Don Mustard

Donald Mustard is a senior railway and pipeline investigator. Donald holds a B.Sc. in Geology from the University of British Columbia, a B.A.A. in Radio & Television Arts from Ryerson Polytechnic University, and will complete an MS in applied analytics from Columbia University in 2017. He is a two-time recipient of the TSB Excellence in Investigation Award, and a recipient of the Canadian Public Service Award of Excellence. His research work has been presented and published at international industry events.

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Elisa Yao

Elisa is a researcher, musician, and translator. She is currently completing an MS in applied analytics at Columbia University. Besides data crunching, she also likes scaring herself by doing public speaking. She is a Toastmasters member and serving Area 27 as an officer. Elisa's professional interests include risk management, investment, and FinTech.

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Introducing TCoRDx

After a stressful (but rewarding) blockweek at Columbia last week, we're now preparing our final presentation at our insurance industry sponsor in early December 2017. As we approach, we will post sections of our draft, presentation, and a demo of the TCoRDx tool. Stay tuned!

Sample Survey Questions

Here are some survey questions that we discovered during our research. These questions represent the kinds of questions that can be used to obtain data for the TCoRDx framework. Click here..