Lysa Porth
Lysa Porth
Position
 
Director, Warren Centre for Actuarial Studies and Research
Assistant Professor / Guy Carpenter Chair in Agricultural Risk Management and Insurance
Department Warren Centre for Actuarial Studies and Research
Office 636 Drake Centre
Phone (204) 474-8130
Fax (204) 474-7545
Email lysa.porth@umanitoba.ca
Website www.agriskcentre.com
(Agricultural Risk Management and Insurance Research Group Website)

Research Interests

Professor Porth is an Assistant Professor and holds the Guy Carpenter Research Chair in Agricultural Risk Management and Insurance, jointly funded by Guy Carpenter & Company and Agriculture and Agri-Food Canada. Dr. Porth is also the Director of the Warren Centre for Actuarial Studies and Research. She also holds a cross-appointment in the Department of Agribusiness and Agricultural Economics, University of Manitoba, and is an adjunct Professor in the Department of Statistics and Actuarial Science, University of Waterloo.

The Guy Carpenter Research Chair is the first of its’ kind in the world, where research pertaining to agricultural risk management and insurance is examined from a combined actuarial and agricultural perspective. Through the Chair, Dr. Porth assists in “bridging the gap” and strengthening public-private partnerships to encourage more cooperation and dialogue among producer organizations, insurers and reinsurers, and provincial and federal governments. Much of her research has primarily focused on developing innovative risk management products to achieve more stable incomes for agricultural producers, as well as more efficient risk management solutions for agricultural producers in Canada, and the World.

Dr. Porth’s research covers a wide breadth of topics regarding product design and pricing, as well as risk modelling and business analytics pertaining to crop insurance, price insurance, revenue insurance, livestock insurance, weather insurance, and weather derivatives. Her research also focuses on new and innovative approaches to insurance, such as remote sensing. Dr. Porth is involved in numerous research projects with the public and private sector. She has collaborated with all levels of government in Canada, including provincial crop insurance organizations, as well as provincial ministries and the federal government. She has also served as an academic advisor to the Federal, Provincial and Territorial (FPT) Minister’s Risk Management panel for policy related discussions. Further, Dr. Porth is involved in a number of international research projects, focused on the US, Poland, Ukraine and China. She frequently collaborates researchers at other universities, such as the University of Manitoba, University of Waterloo and University of Victoria, as well as researchers at other international universities, such as the Chinese Academy of Agriculture Sciences, and Nankai University. Since 2014, Dr. Porth has served as a member of the Editorial Board for the Agriculture Finance Review Journal (Emerald Publishing). In addition, she is the co-Chair of the annual International Agricultural Risk, Finance and Insurance Conference (www.iarfic.org), and member of the Waterloo Research Institute in Insurance, Securities and Quantitative Finance (WatRISQ). Dr. Porth received the 2016 Casualty Actuarial Society Award for the most valuable paper published in 2015 by ARIA (either in the Journal of Risk and Insurance or Risk Management and Insurance Review) for the paper "Insurance Premium Calculation Using Credibility Analysis: An Example from Livestock Mortality Insurance" JRI, Volume 82, Issue 2, pages 341-357, June 2015, along with her co-authors Dr. Jeffrey Pai and Dr. Milton Boyd.

Selected Publications

Xiao, Y., Wang, J., and Porth, L. 2016. A Bootstrap Approach for Pricing Crop Yield Insurance. China Agricultural Economic Review, forthcoming.

Weng, C., Porth, L., Tan, K.S., and Samaratunga, R. 2016. A Crop Insurance Reserve Fund Process Under a Public-Private Partnership Model. Geneva Risk and Insurance Review, forthcoming.

Porth, L., Boyd, M., and Pai, J. 2016. A New Insurance Portfolio Model for Improving Diversification Using Pooling and Selective Reinsurance: An Example from Crop Insurance. Geneva Risk and Insurance Review, forthcoming.

Lin, J., Boyd, M., Pai, J., Porth, L., Zhang, Q., and Wang, K. 2015. Factors affecting farmers’ willingness to purchase weather index insurance in the Hainan Province of China. Agriculture Finance Review 75(1), 103-113.

Porth, L., and K.S. Tan. 2015. Agricultural Insurance – More Room to Grow? The Actuary, Society of Actuaries, April/May 2015 Issue.

Porth, L., Zhu, W., Tan, K.S. 2014. A Credibility-based Erlang Mixture Model for Pricing Crop Reinsurance. Agriculture Finance Review, 64(2), 162-167.

Porth, L., Pai, J., and Boyd, M. 2014. A Portfolio Optimization Approach Using Combinatorics with a Genetic Algorithm for Developing a Reinsurance Model. Journal of Risk and Insurance, doi: 10.1111/jori.12037.

Pai, J., Boyd, M., and Porth, L. 2014. Using Credibility Analysis to Improve Insurance Premium Calculation: An Example from Livestock Mortality Insurance. Journal of Risk and Insurance, doi: 10.1111/jori.12024

Pai, J., Boyd, M., and Porth, L. 2013. Developing a Livestock Mortality Insurance Policy: Concepts and Challenges. Agriculture Finance Review, 73(2), 233-244.

Porth, L. 2013. Growth Potential. Canadian Underwriter, April 2013 Issue.

Boyd, M., Pai, J., and Porth, L. 2013. Crop Insurance in Canada: Background and Operation. Book Chapter.

Porth, L., Weng, C., and Tan, K.S. 2013. Optimal Reinsurance Analysis from a Crop Insurers Perspective. Agriculture Finance Review, 73(2), 310-328.

Selected Presentations and Keynotes

Porth, L. Current Events in Climate Impacted Insurance and Technology, Society of Actuaries webcast, upcoming Dec. 14, 2016.

Porth, L. Current Trends in General Insurance Loss Costs - Agricultural Insurance, Annual Meeting of the Society of Actuaries (SOA), Las Vegas, NV, USA, October 2016.

Porth, L. Innovations in Agricultural Insurance: An Actuarial Perspective. Invited Keynote, 51st Actuarial Research Conference, Minneapolis, MN, USA, July 2016.

Porth, L. Innovations in Agricultural Risk Management and Insurance. Invited Keynote, Research and Operations Conference, Quebec City, QC, Canada, July 2016.

Porth, L. Agricultural Insurance in Canada: Public-Private Partnerships. Invited Keynote, 33rd AIAG Congress, Kansas City, MS, USA, October 2015.

Porth, L. Challenges Faced in Agricultural Insurance Ratemaking. Invited Keynote, Annual Meeting of the Society of Actuaries (SOA), Austin, TX, USA, October 2015.

Porth, L. Spatial Dependence and Aggregation in Weather Risk Hedging. Invited Keynote, Mississippi State University, April 2015.

Porth, L. Discussant, Current Research Panel, Agriculture and Agri-Food Canada Agri-Risk Initiatives 2014 Forum, Ottawa, Canada, February 2014.

Funding

  • NSERC, CRD ($332,712 CDN) 2017-2019
  • Scor Foundation ($200,000 CDN) 2016-2018
  • Society of Actuaries, Centre of Actuarial Excellence Grant ($200,000 USD) 2016-2018
  • University of Manitoba, University Collaborative Research Program Grant ($24,200 CDN) 2016-2018
  • University of Manitoba, Faculty of Science Interdisciplinary Grant ($10,000 CDN) 2016-2017
  • Mitacs, Accelerate ($92,000) 2015-2017
  • SSHRC, Insight ($182,000) 2015-2018
  • Mitacs, Accelerate Cluster ($120,000) 2014-2016

Research Partners and Collaborators

Students and Research Assistants

Current:

Daniel Turenne, Ph.D. Individual Interdisciplinary Studies (IIS) – Actuarial Science and Agricultural Economics, University of Manitoba. Co-Supervision with Milton Boyd, September 2016 – Present.

Jeff Huang, Ph.D. Individual Interdisciplinary Studies (IIS) – Actuarial Science and Agricultural Economics, University of Manitoba. Co-Supervision with Milton Boyd, September 2015 – Present.

Shuo Wang, Ph.D. Individual Interdisciplinary Studies (IIS) – Actuarial Science and Agricultural Economics, University of Manitoba. Co-Supervision with Milton Boyd, September 2015 – Present.

Jonathon Driedger, Ph.D. Individual Interdisciplinary Studies (IIS) – Actuarial Science and Agricultural Economics, University of Manitoba. Co-Supervision with Milton Boyd, Present.

Kwabena Opimpeh, M.Sc., Act. Math, U of Manitoba. Co-Supervision with Jeffrey Pai, Present.

Shuai Du, M.Sc., Act. Math, U of Manitoba. Co-Supervision with Samuel Hao, Present.

Previous:

Daniel Turenne, M.Sc., Act. Math, U of Manitoba. Co-Supervision Milton Boyd, August 2016.

Alexa Simpson, M.Sc, Act. Math, U of Manitoba. Co-supervision Ken Seng Tan, February 2016.

Shuo Wang, M.Sc, Act. Math, U of Manitoba. Co-supervision Ken Seng Tan, August 2015.

Leiguang Chen, M.Sc., Comp. Math, U of Waterloo. Co-Supervision Ken Seng Tan, August 2015.

Yun Long, M.Sc., Comp. Math, U of Waterloo. Co-Supervision Ken Seng Tan, August 2015.

Ashley Sidorowski, M.Sc., Ag. Econ., U of Manitoba. Co-Supervision Milton Boyd, Aug 2015.

Ivanna Lutsyshyn, M.Sc., Ag. Economics, U of Manitoba. Co-Supervision Milton Boyd, Aug 2015.

Million Aytenfisu, PDF, U of Waterloo. Co-Supervision Ken Seng Tan, Sept, 2014 – Dec 2015.

Wenjun Zhu, Ph.D. Act. Science, U of Waterloo. Co-Supervision Ken Seng Tan, August 2015.

Ryan Samaratunga, M.Sc. Act. Sc., U of Waterloo. Co-Supervision Chengguo Weng, August 2013.

Alex Sahu, B. Math Act. Science, U of Waterloo. RA, co-supervised Brock Porth, ongoing.

Jon Lim, B. Math Act. Science, U of Waterloo. RA, co-supervised Brock Porth, Milton Boyd.

Opportunities

Professor Porth is interested in receiving inquiries regarding high quality Master’s and Ph.D. students, as well as Post Doctoral Fellows (PDF’s). Funding is available. Please contact her for further information (lysa.porth@umanitoba.ca).