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Department of Risk Management and Insurance
ruo.jia@pku.edu.cn; +86 10 6275 8449;
My Google Scholar Page; Oct 2025
Working Experience
2019.9-present Associate Professor of Insurance, tenured since 2022.8, Ph.D. Supervisor
2016.9-2019.8 Assistant Professor of Insurance
Dept. of Risk Management and Insurance, School of Economics, Peking University
Young Talent (2025-), National High-Level Talents Special Support Program
Director & Collaborating Expert (2022- ), Digital Technologies, Geneva Association
Principle Investigator (2024-), Major grant of Social Science Foundation of China
Deputy Director (2022- ), China Center for Actuarial Science Development, PKU
2010.9-2013.8 Casualty Underwriter, Graduate@SwissRe / Associate / Assistant Vice President
Swiss Reinsurance Company Ltd.
Education
2013.9-2016.7 Ph.D. in Finance, Institute of Insurance Economics, University of St. Gallen (AACSB & EQUIS), supervised by Prof. Dr. Martin Eling
2008.9-2010.7 M.Sc. in Finance, specialization in Insurance, Peking University
2004.9-2008.7 B.Sc. in Insurance, Peking University
2005.9-2008.7 B.A. in International Relations and Foreign Affairs, Peking University
2007.6-2007.8 PKU-YALE Exchange Program, Yale University
Research Interests
· Risk governance (catastrophe risk management, public-private partnership, emergency management)
· Insurtech (impact of digital technologies, blockchain, big data and machine learning)
· Insurance institution and regulation (solvency regulation, systemic risk, insurer performance)
· Social insurance (pension, social security)
Editorial Services
· Associate Editor for insurance topics, European Journal of Finance (SSCI)
· Member of Editorial Board, Geneva Papers on Risk and Insurance-Issues and Practice (SSCI)
· Editor for insurance and social protection topics, Risk Sciences
· Associate Editor, Risk Management and Insurance Review
· Member of Youth Editorial Board, China Finance Review International
Peer-reviewed Journal Articles and Books
1. Catastrophe risk sharing among individuals, private insurance, and government, with Jieyu Lin, Michael R. Powers, Hanyang Wang, Journal of Risk and Insurance, 92(2): 263-311, 2025
2. Adverse impact of capital regulatory reform and policy remedy: Theory and evidence, with Zenan Wu, Yulong Zhao, European Journal of Finance, 31(3): 348-381, 2025
3. InsurTech: Digital technologies in insurance, with Alexander Braun, Geneva Papers on Risk and Insurance: Issues and Practice, 50: 1-7, 2025
4. Data-enriched prediction of insurance risk, with Shaoran Li, Ye Yin, Risk Sciences, 2025
5. The Impact of Expected Pensions on Consumption: Evidence from China, with Wei Zheng, Youji Lyu, Katja Hanewald, Journal of Pension Economics and Finance, 22(1), 69-87, 2023
6. Technology Heterogeneity and Market Structure, with Martin Eling, Jieyu Lin, Casey Rosthchild, Journal of Risk and Insurance, 89(2), 427-448, 2022
7. The Magic Triangle: Growth, Profitability and Safety in the Insurance Industry, with Martin Eling, Philipp Schaper, Geneva Papers on Risk and Insurance - Issues and Practice, 47(2), 321-348, 2022
8. Why is Inequality Higher among the Old? Evidence from China, with Katja Hanewald, Zining Liu, China Economic Review, 60, 101592, 2021
9. Globalization: Blessing or Curse? Evidence from the Insurance Industry, with Christian Biener, Martin Eling, European Journal of International Management, 15(2/3), 457-483, 2021
10. Insurer Commitment and Dynamic Pricing Pattern, with Zenan Wu, Geneva Risk and Insurance Review, 44(1): 87-135, 2019, Cao Fengqi Youth Scholar Award
11. Global Consistent or Market-Oriented? A Quantitative Assessment of RBC Standards, Solvency II, and C-ROSS, with Shuyan Liu, Yulong Zhao, Qixiang Sun, Pacific-Basin Finance Journal, 57: 101037, 2019, China International Risk Forum-Pacific Basin Finance Journal Research Excellence Award
12. How Private Sector Participation Improves Retirement Preparation: A Case from China, with Wei Zheng and Zining Liu, Geneva Papers on Risk and Insurance - Issues and Practice, 44(1): 123-147, 2019
13. Efficiency and Profitability in the Global Insurance Industry, with Martin Eling, Pacific-Basin Finance Journal, 57: 101190, 2019
14. Business Failure, Efficiency, and Volatility: Evidence from the European Insurance Industry, with Martin Eling, International Review of Financial Analysis, 59(1): 58-76, 2018
15. Between-Group Adverse Selection: Evidence from Group Critical Illness Insurance, with Martin Eling and Yi Yao, Journal of Risk and Insurance, 84(2): 771-809, 2017
16. The Structure of the Global Reinsurance Market: An Analysis of Efficiency, Scale, and Scope, with Christian Biener and Martin Eling, Journal of Banking and Finance, 77(1): 213–229, 2017
17. Recent Research Developments Affecting Non -Life Insurance: The CAS Risk Premium Project 2014 Update, with Martin Eling, Risk Management and Insurance Review, 20(1): 63-77, 2017
18. 《从十八大到二十大——新时代中国社会保障》，合作者胡晓义、郑伟、张浩田、贺灿春，经济科学出版社，2025年2月，国家出版基金项目资助，人力资源与社会保障部、中央党史和文献研究院主要负责同志批示。
19. 《家庭金融参与中的信任重建：来自农村社会养老保险的证据》，合作者高明、艾美彤，
《经济研究》，2021年第8期，174-191页
20. 《医疗保险、健康异质性与精准脱贫》，合作者刘子宁、郑伟、景鹏，《金融研究》，2019年第5期，56-75页，封面文章
21. 《量化供给侧指标对寿险消费的影响——基于寿险供给质量、动能和效率的视角》，合作者范庆祝、孙祁祥，《金融研究》，2017年第9期，115-129页
22. 《农业保险大灾风险分散体系：评估框架与国际比较》，合作者郑伟、郑豪、陈广，《农业经济问题》，2019年第9期，121-133页
23. 《保险机制能否助推脱贫并守住脱贫成果》，合作者景鹏、郑伟、刘子宁，《经济科学》，2019年第2期，104-116页，人大复印资料全文转载
24. 《金融业资本监管制度的评估框架》，合作者刘淑彦、孙祁祥，《北京大学学报（哲学社会科学版）》，2019年第1期，137-148页
25. 《保险扶贫项目的评估框架及应用——基于两个调研案例的分析》，合作者郑伟、景鹏、刘子宁，《保险研究》，2018年第8期，13-20页，封面文章，年度最佳论文奖第一名
26. 《OTC金融衍生交易的市场风险、定价风险与交易公平性之间的关系》，《金融法苑》，2009年第2期，147-158页
27. 《中国巨灾风险管理的制度研究》，合作者刘新立、罗忠敏、张文渊，《保险研究》，2008年增刊，11-33页
28. 《道路交通事故中的侵权责任与责任保险》，合作者李响，《保险研究》，2007年第8期，21-23页
Grants
2025.10-2030.9，Institutional and technical innovation of insurance for catastrophe and systemic risks, National High-Level Talents
Special Support Program (Yong Talents)
2025.1-2026.8，Implicit Insurance, Group Decisions, and Technology Adoption, Swiss National Science Foundation
2024.1-2028.12 National Risk Management System based on Insurance, Major Grant of Social Science Foundation of China
2022.1-2025.12 Insurance Solvency Regulation and Insurer Risk Decision, Natural Science Foundation of China
2018.1-2020.12 Globalization of Insurance Regulation and Systemic Risk, Natural Science Foundation of China
2025.1-2026.8 Implicit Insurance, Group Decisions, and Technology Adoption, Swiss National Science Foundation
2019.2-2019.8 Consistency of SARMRA Evaluation in C-ROSS, China Banking and Insurance Regulatory Commission
2017.6-2018.7 Catastrophic Risk Diversification System of Agricultural Insurance: An International Comparison, China Banking and
Insurance Regulatory Commission
2022.1-2024.6 Reform and Development of the Chinese Social Security System: 2012-2022, Social Insurance Society of China
2022.3-2022.12 Institutional Interactions in Catastrophe Risk Management System,
Insurance Society of China
2020.3-2021.12 COVID-19 Emergency Project on Risk Management of Pandemic Catastrophe Risk
2018.3-2019.12 Development Program on Management and Supervision of Systemic Risk
2016.11-present, PKU School of Economics Research Seeds Fund
Industry Reports
29. Gen AI in the insurance customer journey, coauthored with Martin Eling, Tianyang Wang, sponsored by the Geneva Association, 2025
30. Navigating Generative AI Risks: Insurability Challenges and Industry Innovation, with Martin Eling, Tianyang Wang, The Actuary, October 2025
31. Gen AI risks for businesses: Exploring the role for insurance, coauthored with Martin Eling, Tianyang Wang, sponsored by the Geneva Association, 2025
32. Planting the Seeds of AI: How insurers think about AI and digital technologies, co-authored with Bernhard Schneider, The Actuary, July 2024
33. Blockchain in Insurance: Potential versus realized benefits, The Actuary, April 2024
34. Digital platform ecosystems in insurance: Connecting with customers in new ways, sponsored by The Geneva Association, 2024
35. Assessing the potential of decentralized finance and blockchain technology in insurance, sponsored by The Geneva Association, 2023
36. The Magic of Insurtech, with Jieyu Lin, Meitong Ai, Chang Zhang, Ye Yin, Canchun He, sponsored by Shanghai Renascence Insurtech, 2022
37. Insurance in Poverty Reduction: A Case from China, with Wei Zheng, Peng Jing, and Zining Liu, sponsored by Swiss Re Institute, 2018
38. Report on Chinese Outbound Travelling Risk, with Wei Zheng, Wenyuan Wang, Bowen Zhu, and Chunyan Lei, sponsored by Allianz Worldwide Partners, 2018
Selected Plenary Talks
· The Geneva Association Digital Technologies Conference: Generative AI and the future of insurance, 2024, program chair and moderator.
· Risk conversation webinar of the Geneva Association, 2024, Connecting Insurance Customers through Digital Platform Ecosystems
· Risk conversation webinar of the Geneva Association, 2023, Beyond Cryptos: DeFi and Blockchain Technology in Insurance
· Annual Conference of Asia-Pacific Risk and Insurance Association, 2022, The Impact of Insurtech: Theory and Evidence
· Annual Conference of China Association of Insurance Law, 2021, Solvency Regulation: International Comparison and Empirical Analyses
· China International Conference on Insurance and Risk Management (CICIRM), 2020-2021, Adverse Impacts of Regulatory Reform
· ARIA-ASSA, 2021, Adverse Impacts of Regulatory Reform: Theory and Evidence
· Korean Insurance Academic Association, 2020, Mobile Insurance Education
· Joint Seminar of Modern Risk Society, Quantitative Finance Committee, and Sina Finance, 2020, Loan Prime Rate and Liberalization of Interest Rate
· SOE-PKU New Year Forum @Asia Society, New York: China and World Economy, 2018, Insurance Solvency Capital Regulation in the U.S., EU, and China
· Risk Theory Society, 2017, Insurer Commitment and Dynamic Pricing Pattern
Referee Services
Journal of Risk and Insurance, Asia-Pacific Journal of Risk and Insurance, Geneva Papers on Risk and Insurance - Issues and Practice, North American Actuarial Journal, Scandinavian Actuarial Journal, Journal of Insurance Regulation, Journal of Insurance Issues, Risk Management and Insurance Review, Asia-Pacific Journal of Risk and Insurance
Journal of Banking and Finance, Journal of Empirical Finance, International Review of Financial Analysis, Journal of Financial Stability, European Financial Management, European Journal of Finance, Pacific – Basin Finance Journal, International Journal of Banking, Accounting and Finance, Emerging Markets Finance and Trade
Annuals of Operations Research, Omega, Review of Managerial Science, Eurasian Business Review, International Journal of Emerging Markets, Economic Analysis and Policy, China and World Economy, Economic Research Journal (in Chinese)
Services
· Board of Governors (2018-2021), Asia-Pacific Risk and Insurance Association
· Member (2017-2023), Risk Theory Society
· Founding Director (2017-present), Modern Risk Society
· Membership Committee (2018-2019), Les. B. Strickler Teaching in Innovation Award Committee (2016-2018), American Risk and Insurance Association
· Member (2024-present), Graduates Education Committee, School of Economics, Peking University
· Member (2018-2024), Research Committee, School of Economics, Peking University
· Head Teacher (2017-present), School of Economics, Peking University
· Consultant on Economics Subjects (2016-present), Peking University Library
Awards
· APJRI Reviewer Award, 2024
· Best Paper Award, 14th & 20th PKU-CCISSR Forum, 2017, 2023
· Best Paper Award, China International Conference on Insurance and Risk Management 2023
· Excellence in Teaching Award, Peking University, 2021
· Excellence in the Undergraduate Course Reform Project, 2021
· Harold D. Skipper Award for the 2020 APRIA Best Conference Paper @WRIEC 2020
· Cao Fengqi Young Scholar Research Excellence Award in Finance, 2020 (Top 2 Young Finance Scholars in Peking University)
· Excellent Head Teacher, Peking University, 2019
· Best Paper Award, Insurance Studies (in Chinese), 2018
· China International Risk Forum-Pacific Basin Finance Journal Research Excellence Award, 2017
· First Class Best Paper Award, 9th China Insurance Education Forum, 2017
· Les B. Strickler Innovation in Instruction Award, American Risk and Insurance Association, 2016
· Excellent Teaching Skill Award, Peking University, 2016
Teaching Courses
· Insurance Operation (Undergraduates and Graduates, 2016-present)
· Insurance Topics: Theory and Global Practice (Graduates, 2022-present)
· InsurTech Topics (Graduates, co-lecture with Suo, Lingyan, 2024-present)
· Insurance Law (Undergraduates, 2017-present, PKU Excellence in Teaching Innovation)
· Property and Casualty Insurance (Undergraduates, 2017-present)
· PKU-THU-RUC joint seminar on Economics of Risk, Insurance, and Uncertainty (G, 2021-present)
· Executive Education (2018-present): Insurance Regulation, Insurance Contract, Insurance Globalization, Catastrophe Risk Management, Insurance Underwriting
Personal
· Passed the BAR in China (2008), specialized in insurance law
· Mandarin Chinese (native), English (proficient), German (basic)
· Born in December 1985 in Beijing
