The Center for the Study of Finance and Insurance (CSFI), which is the predecessor of the Center for Mathematical Modeling and Data Science (MMDS), was established in 2006 The CSFI was organized with the assistance of faculty members from various graduate schools with different academic fields such as financial economics, probability and stochastic processes, statistics, operations research, and so on, but with a common subject, i.e., "risk is measured, analyzed, evaluated and managed." Moreover, with the cooperation of the business community, in addition to the academic faculty, the CSFI provided its graduate students with educational programs such as actuarial science, insurance, mathematical finance and financial engineering.