Elseware has been a leader in applied research since its inception, continuously advancing the field of risk management with innovative methodologies and groundbreaking studies.

Our Legacy: 
Meet The Founders

Founders Patrick Naim and Laurent Condamin were pioneers in applying neural and Bayesian networks to the financial sector in the 1990s.

Their work laid the foundation for our structured scenario approach, XOI, which we introduced in 2005 as a revolutionary method for operational risk modeling.

Patrick Naim

CEO

Risk modelling and quantification expert.
Consultant for major banks, insurance and oil&gas companies in US, UK and Europe.


Author of several books in risk quantification, bayesian networks, and data modelling.

Laurent Condaim

Managing Director

Expert in risk quantification for operational risk, climate-related risks, and ESG risks.

Other areas of expertise: Stress tests, 
Credit rating modelling, Project risk analysis, Insurance coverage optimization, Cost benefit analysis for major financial institutions, Oil&Gas companies, Aerospace industry 
in Europe, US and UK.

Current Research:

Cyber risk & Climate stress modeling

Modelling Cyber Risks

Cyber risk consistently ranks among the top operational risks for businesses worldwide. Our collaborative research in cyber risk management aims to model risks for financial institutions, providing accurate risk simulation and impact assessment.

Recognized for its excellence, our cyber risk model, based on the XOI approach, won the best industry initiative award from Risk.net in 2020 and contributed to the Federal Reserve of Richmond's Cyber Risk Workshop.

Modelling Climate Risks

Climate change presents systemic environmental risks that demand a unique assessment framework.

Addressing climate risk assessment, our research evaluates these challenges through a comprehensive approach involving scenario assessment, stress analysis, impact aggregation, and mitigation strategies.

This methodology helps financial institutions understand and prepare for the long-term impacts of climate change on their operations.

Our research methodology is built on four core blocks

We advocate for a top-down approach to define relevant business segments, ensuring a thorough and tailored risk assessment.

Scenario

Evaluating economic and physical consequences of climate change.

Stress

Assessing impacts on specific business segments.

Aggregation

Integrating segment impacts into a comprehensive analysis.

Response

Developing mitigation strategies to manage identified risks.

Publications & Collaborations

Elseware's research has been documented in various publications and developed in collaboration with leading institutions.

Explore our latest papers and collaborative projects to gain deeper insights into our pioneering work.

Interested In Our Research?

Contact us to learn more about our projects 
or to explore collaboration opportunities.

Get In Touch