Advancing actuarial knowledge requires more than great ideas. It requires opportunities for researchers to explore emerging issues, develop innovative solutions and share their findings with the profession.
Through its Academic Research Grant Program, the CIA supports research at Canadian universities while helping develop the next generation of actuarial researchers and practitioners. The program strengthens the CIA’s connection with accredited actuarial programs and academic institutions across Canada, bridging research, education and professional practice.
For doctoral researcher Mengqi (Jack) Wang, the CIA Academic Research Grant transformed a promising research idea into a project with practical relevance for the actuarial profession and gave him the opportunity to share his work with an international audience.
Adapting and advancing an important research question
The research was originally initiated by Jack and his former supervisor, Dr. Ričardas Zitikis, with the goal of developing a multivariate value-at-risk framework for capital allocation. Following Dr. Zitikis’s passing, the research took on new dimensions under the supervision of Dr. Jiandong Ren and Dr. Edward Furman.
“The research was refocused from a theoretical direction towards a more applied investigation,” Jack explains. “We sought prudent capital allocation rules in the presence of tail dependence.”
At its core, the research explores how insurers can allocate capital across interconnected areas of their business when risks are not independent. Understanding these relationships can help support more effective risk management and capital decision-making, particularly during extreme events.
Funding that supports both research and researchers
For Jack, the grant’s impact extended beyond the research itself.
Much of the funding supported his doctoral studies and actuarial professional development, allowing him to dedicate more time to advancing the project. The remainder funded travel to the 2026 Actuarial Research Conference (ARC), where he presented his findings to researchers and practitioners from around the world.
“The grant allowed me to concentrate on both my doctoral research and my progression towards actuarial fellowship,” says Jack. “Reorganizing and advancing the project after the loss of my former supervisor, though challenging, was itself a valuable exercise in independent research.”
The experience also deepened his understanding of regulatory capital frameworks, a topic closely connected to his actuarial qualification path.
Sharing research with the global actuarial community
Presenting at the 2026 ARC was another important milestone.
“This was my first oral presentation at a research conference,” Jack says. “Presenting at the ARC helped me crystallize the narrative of the project and gave me international exposure and peer feedback, both of which will be essential for shaping the final manuscript and my doctoral thesis.”
The experience reinforced the value of engaging with the wider actuarial research community and receiving feedback from peers working on similar challenges.
For future applicants
Having experienced the grant program firsthand, Jack encourages researchers not to wait until their projects are fully developed before applying.
“Apply early, before the project is fully mature. What matters most is whether the core idea addresses a current issue in the actuarial profession.”
He also notes that the benefits extend beyond financial support.
“A grant provides external motivation to define the problem and framework at an early stage. It is also helpful to plan for a clear intermediate deliverable to sustain momentum and keep the project on track.”
The impact of projects like Jack’s extends beyond individual researchers.
“Actuarial research is foundational in helping organizations and the public respond to emerging risks and evolving challenges,” says Sandra Caya, Director of Research, Practice Development and Public Policy at the CIA. “The CIA is proud to support the research space in Canada through the Academic Research Grant Program, encouraging innovative thinking, transforming actuarial practice, and building up the next generation of actuarial researchers and practitioners.”
Letters of intent now open
Researchers at Canadian universities are invited to apply for the 2026-27 CIA Academic Research Grant Program, which supports projects that advance actuarial knowledge, explore emerging issues and help train the next generation of actuaries. Funding of up to $20,000 is available, with an additional $5,000 offered through the Actuarial Foundation of Canada’s Maple Leaf Research Award for projects that include collaboration with industry practitioners. Letters of intent must be submitted by October 9.
Whether you’re exploring a new idea, building on existing research or seeking to create meaningful research opportunities for students, the Academic Research Grant Program can help bring your project to life.
See the request for proposals and submit your letter of intent.
See what last year’s grant recipients achieved
Explore the CIA Academic Research Grant: 2024-25 Reports to learn about the research supported through last year’s program and the impact these projects are having on actuarial science, students and the profession.