08 October 2016

The Lloyd’s Register Foundation Institute for the Public Understanding of Risk, which seeks to help policymakers, business leaders and scientists evaluate risk and make better decisions on safety, was launched recently.

The institute is based at the National University of Singapore (NUS) Kent Ridge campus and will have about 50 researchers across a broad range of disciplines, from engineering to data analytics.

At the launch, National Development Minister Lawrence Wong said: “All of us have to deal with risks on a daily basis, be it our health, safety or financial risks, to name but a few. But the reality is that we are not very good at assessing and evaluating risks.”

The institute will undertake up to 30 research projects in its first five years. It also plans to offer up to 30 fellowships to young scholars in the region to pursue research.