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  2. PhD ESG-Based Decision-Making for Customer Portfolio Management

PhD ESG-Based Decision-Making for Customer Portfolio Management

Are you interested in a PhD position within the BMS-IEBIS group? Apply now!

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Key takeaways

  • Hours
    38 hr.
  • Salary indication
    Salary gross/monthly
    based on full-time
    € 2,901 - € 3,707
  • Deadline
    30 Jun 2025

Insurance companies play a key role in financial markets—not by generating direct monetary value, but by underwriting and managing risk. Through the design and management of insurance portfolios, they help shape value creation and carry a growing responsibility to consider Environmental, Social, and Governance (ESG) factors. As regulatory, societal, and market pressures mount, insurers face a clear need to integrate ESG considerations into their decision-making processes—not just in risk selection, but also in pricing, underwriting, and portfolio optimization.

Despite the growing relevance of ESG in insurance, there is no widely adopted, data-driven framework that integrates ESG metrics into customer portfolio decision-making. Current practices are typically qualitative and ad hoc, which limits comparability and transparency across clients, especially in commercial insurance contexts. This PhD project aims to develop a structured and scalable decision framework that leverages AI to incorporate measurable ESG indicators alongside traditional financial risk factors. The envisioned framework will be dynamic, allowing ESG factors to be weighted and adjusted in response to evolving business priorities or regulatory demands, and will offer explainability to support both operational use and strategic planning.

On the customer side, the research will focus on how ESG indicators can be meaningfully embedded into portfolio assessments and risk models. For instance, should a construction firm that actively reduces its environmental impact be treated more favourably than one with a higher emissions profile, even if both present similar financial risk? Addressing such multi-criteria decision-making scenarios is key for ensuring that insurance offerings not only reflect financial performance but also incentivize sustainable practices among commercial clients.

At the same time, ESG decision-making also applies internally within insurance companies. For example, migrating to cloud-based infrastructure for storing insurance policies can enhance operational efficiency, yet it also increases energy consumption in data centers—elevating the company's carbon footprint through electricity usage and data redundancy. By developing a structured, quantitative, and scalable ESG framework, this project will support insurance companies in evaluating both external and internal ESG trade-offs, enabling a shift from intuition-based decisions to transparent, evidence-based sustainability strategies.

The desired start date for this position is 1 September 2025.

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Your profile

The ideal candidate should possess:

  • You have a master's degree in Engineering, Finance, Econometrics, Data Science, Business Analytics, Sustainability, Risk Management, or a related field;
  • You have interest in sustainability, social impact, and the role of accounting in measuring this impact;
  • You have experience and/or willing to learn quantitative modelling, risk assessment, and ESG evaluation;
  • Experience with data-driven decision-making tools and frameworks is an asset;
  • Proficiency in data analysis tools (e.g., python, R, SQL, Power BI or similar);
  • You are an excellent team-player in an enthusiastic group of scientists and practitioners from different backgrounds;
  • You are fluent in English, preferable also in Dutch.

Our offer

A full-time, 4-year PhD position is available. We offer excellent mentorship in a stimulating research environment with excellent facilities. Additionally, we provide a personal development program within the Twente Graduate School, following the terms of employment outlined in the Dutch Collective Labour Agreement for Universities (CAO).

  • Gross monthly salary of € 2.901 in the first year, increasing each year up to € 3.707 in the fourth year;
  • Excellent benefits including a holiday allowance of 8% of the gross annual salary, an end-of-year bonus of 8.3%, and a solid pension scheme;
  • 29 holidays per year in case of full-time employment;
  • A training programme as part of the Twente Graduate School where you and your supervisors will determine a plan for a suitable education and supervision;
  • A green campus with free access to sports facilities and an international scientific community;
  • A family-friendly institution;
  • As an employee at the UT, you will receive a full status, which includes pension, health care benefits, and good secondary conditions. This is all covered under our collective labour agreement CAO-NU for Dutch universities.

Information and application

Are you interested after reading about this vacancy? Applications for this position will be reviewed on a rolling basis. The vacancy will remain open until we find and onboard the right candidate. Early applications are encouraged as positions may be filled before the vacancy's official closure. You can apply for this position before June 30, 2025, by clicking the ‘apply now’ button below. Please include:

Required Documents

1. Cover letter (max. 2 pages), emphasizing your specific interest, qualifications, and motivations to apply for this position. Clearly indicate your preferred position in the letter (i.e., PhD or EngD).
2. A Curriculum Vitae, including a list of all courses attended and grades obtained, and, if applicable, a list of publications and references.
3. An IELTS-test, Internet TOEFL test (TOEFL-iBT), or a Cambridge CAE-C (CPE). Applicants with a non-Dutch qualification and who have not had secondary and tertiary education in English can only be admitted with an IELTS-test showing a total band score of at least 6.5, internet. TOEFL test (TOEFL-iBT) showing a score of at least 90, or a Cambridge CAE-C (CPE).

While online participation is possible, in-person attendance at Achmea in Apeldoorn on that day is preferred. It will begin with an informal introductory conversation, possibly followed by a more in-depth meeting with representatives of the University of Twente. In the final phase, the focus will shift to a discussion with stakeholders at Achmea to explore alignment with the project’s industry-oriented objectives.

Additional information can be acquired via email from Marcos Machado (m.r.machado@utwente.nl) or Rob Bemthuis (r.h.bemthuis@utwente.nl). Please do not send applications to this email address.

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About the organisation

At the Faculty of Behavioural, Management and Social Sciences (BMS), we unite the worlds of people and technology to address today’s complex societal challenges. We are passionate about understanding human behaviour, fostering responsible innovation, and designing solutions that create societal value. Our educational programmes span disciplines such as Psychology, Business Administration, Public Administration, Communication Sciences, Philosophy, Educational Sciences, and Health Sciences. Through our bachelor’s and master’s degrees, Professional Learning & Development programmes, and interdisciplinary research themes – including Emerging Technologies & Societal Transformations, Resilience, Smart Industry, Learning, and Health – we empower students and researchers to make a positive societal impact.

At BMS, we combine critical thinking with practical action. From advancing sustainable mobility with innovations like the world’s most efficient hydrogen car to shaping policies that promote digital inclusion, our work contributes to a healthier, fairer, and more sustainable future. Whether it’s exploring how technology influences human behaviour or leveraging data and innovation to transform industries and communities, we ensure that technology serves people – and not the other way around.

As an employer, BMS offers a vibrant, inclusive, and entrepreneurial environment where you can thrive personally and professionally. Join us and become part of a forward-thinking community that equips you to shape the future – for yourself and society. With us, you will become part of a leading technical university with increasing, positive social impact.

Want to know more?

Machado, M.R. (Marcos)

Machado, M.R. (Marcos)
Assistant Professor

Machado, M.R. (Marcos)
Assistant Professor

Do you have questions about this vacancy? Then you can contact Marcos for all substantive questions about this position and the application procedure. For general questions about working for the UT, please refer to the chatbot.

How to apply

Step 1

Apply.
When you see a vacancy that appeals to you, you can apply online. We ask you to upload a CV and motivation letter and/or list of publications. You will receive a confirmation of receipt by e-mail.

Apply now

Step 2

Selection.
The selection committee will review your application and you will receive a response within 2 weeks after the vacancy has been closed.

Step 3

1st interview.
The 1st (online or in person) meeting serves as an introduction where we introduce ourselves to you and you to us. You may be asked to give a short presentation. This will be further explained in the invitation.

Step 4

2nd interview.
In the second interview, we will further discuss the job content, your skills and your talents.

Step 5

The offer.
If the conversations are positive, you will be made a suitable offer. If applicable, we will sign you up for screening.

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About the BMS faculty

Curious about what The Faculty of Behavioral, Management and Social sciences (BMS) stands for? Check out the BMS website for more information.

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