The Center for Innovation in Risk, Catastrophes, and Decisions (CIRCAD) has been awarded a highly competitive Industry–University Cooperative Research Center (IUCRC) grant from the National Science Foundation (NSF), providing the foundation for a groundbreaking collaboration between Duke University, the University of Georgia, and leading partners from the insurance, finance, and risk management sectors. This award establishes CIRCAD as a hub for research at the intersection of catastrophe modeling, decision science, and insurance analytics, accelerating the development of tools and strategies to address escalating climate and disaster risks.
With NSF support, CIRCAD is now poised to launch its inaugural projects in partnership with its founding industry members. The center will foster cross-sector collaboration to generate actionable methods, train the next generation of risk professionals, and deliver solutions that advance both industry practice and community resilience. CIRCAD’s launch underscores the critical importance of linking academic innovation with real-world decision-making to strengthen preparedness and insurability in the face of complex, compounding hazards.