- Research topics are designated each year and form the basis of topics at the yearly IIS Meeting.
- A CALL for PAPERS is issued on key insurance websites, including the IIS and The Geneva Association websites the year prior to the award year.
- A panel of business and academic judges appointed by the organizations select final papers in March.
- Awards up to $5,000 are presented to two outstanding research papers each year at the yearly meeting of the IIS. The author will be hosted at the IIS Annual Seminar, including travel expenses, to present their research and actively participate both formally and informally throughout the seminar.
- Research is presented at the IIS meeting.
- Research is published in The Geneva Papers on Risk and Insurance as well as a special edition of The Geneva Papers on Risk and Insurance.