ERGO and the Technical University of Munich cooperate

ERGO and the Technical University of Munich are establishing the "Center of Excellence in Insurance“. Dr. Ulf Mainzer, Labour Director and Professor Dr. Rudi Zagst, Director of the Mathematics Center and Director of the Chair of Financial Mathematics explain why this is a win-win situation for both partners.

Prof. Oliver Junge, Vice Dean Mathematics Department (TUM), Dr. Achim Kassow, Chairman of the Board of Management of ERGO Deutschland AG, Dr. Ulf Mainzer, Member of the Board of Management of ERGO Group AG, Prof. Rudi Zagst, Chair for Mathematical Finance (TUM); Prof. Matthias Scherer, Chair of Mathematical Finance (TUM). (Photo: Astrid Eckert / TUM)

Mr Mainzer, ERGO and the Technical University of Munich are launching a joint project today - the Center of Excellence in Insurance. What is ERGO expecting from this?

Ulf Mainzer: We have a whole list of things we plan to do together; both partners will benefit from the cooperation. For us as ERGO, it is primarily all about know-how transfer and about the recruitment of the next generation of staff, for example actuaries. ERGO will gain access to state of the art actuarial know-how and will have the opportunity to present itself as an innovative and attractive employer, particularly to the target group of young university graduates.

In what form can we envisage this "know-how transfer"?

Mainzer: As a mutual exchange of knowledge. The graduates will benefit from close contact with ERGO, for example in the form of support in the work for their master's degree or doctorates. ERGO will, in turn, will enhance its own research and development skills and our specialist areas will gain highly qualified staff. At the same time we will boost our innovative capabilities this way.

How important is it for ERGO to interest highly qualified staff in the company?

Mainzer: It is very important for us. Even more than before we want to develop very targeted contacts with talented individuals, to gain their loyalty and to develop them further in the right positions in the company. The project with the Technical University of Munich, one of Germany's and Europe's most prestigious institutions, which is starting today will establish us with this vital target group as the "must go to company" in the insurance sector as well as ensuring international visibility for us. We need this if we are to find and recruit the best people.

Professor Zagst, what does this cooperation with ERGO  mean for your Chair of Financial Mathematics?

Professor Rudi Zagst: We are delighted that this link between research and practice has been established today. By doing so we have underpinned our core objective of bringing academia, the international dimension and the business world together and creating a meaningful network between them. The Technical University of Munich has always valued close teamwork between companies and academic institutions, both in Germany and across the entire world. The joint Center of Excellence in Insurance we have formed with ERGO is one of these cooperations between academia and the business world which is so important for us.

How interested are your students in practical topics?

Professor Zagst: The interest is enormous. And our students will certainly find plenty of topics for their master's or doctor's theses. In this way new contacts and interfaces between students and companies will be continually created. This is the path we want to follow. We are very pleased that a partner of the strength and reputation of ERGO is joining us as we proceed along this path. 

Are there any concrete plans for joint events?

Professor Zagst: We are already discussing this in detail. Advanced training, for example for actuaries, is under consideration as well as workshops, joint project work, bursaries, the arrangement of exclusive events and much more.

Mr Mainzer, what is the timescale you plan for this cooperation?

Mainzer: We are planning for five years as the first step. However, I am sure that the team formed by the Technical University of Munich and ERGO is on the threshold of a long and fruitful collaboration.

About TU Munich

The Technical University of Munich is amongst the most prestigious universities in Germany and is also one of the best universities in Europe. Founded in 1868, the Technical University of Munich has ...

• 14 faculties and 177 courses
• 545 professors and 5 Humboldt professorships
• approximately 41,000 students, of which about a quarter are from outside Germany
• about 9,000 graduates and it also awards about 1,000 doctorates each year
• about 5,800 publications to its credit
• 165 inventions
• 13 Nobel laureates
• partner universities worldwide