COVID-19 and Excess Mortality: An Actuarial Study

The study of mortality is an ever-active field of research, and new methods or combinations of methods are constantly being developed. In the actuarial domain, the study of phenomena disrupting mortality and leading to excess mortality, as in the case of COVID-19, is of great interest. Therefore, it...

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Bibliographic Details
Published in:Risks (Basel) 2024-04, Vol.12 (4), p.61
Main Authors: Delbrouck, Camille, Alonso-García, Jennifer
Format: Article
Language:English
Subjects:
actuarial science
Belgium
COVID-19
Disease transmission
Epidemics
Epidemiology
excess mortality
Health aspects
Infectious diseases
Insurance policies
Life insurance
Medical research
Medicine, Experimental
Mortality
Ordinary differential equations
Pandemics
Patient outcomes
Quarantine
Risk factors
Social aspects
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Summary:The study of mortality is an ever-active field of research, and new methods or combinations of methods are constantly being developed. In the actuarial domain, the study of phenomena disrupting mortality and leading to excess mortality, as in the case of COVID-19, is of great interest. Therefore, it is relevant to investigate the extent to which an epidemiological model can be integrated into an actuarial approach in the context of mortality. The aim of this project is to establish a method for the study of excess mortality due to an epidemic and to quantify these effects in the context of the insurance world to anticipate certain possible financial instabilities. We consider a case study caused by SARS-CoV-2 in Belgium during the year 2020. We propose an approach that develops an epidemiological model simulating excess mortality, and we incorporate this model into a classical approach to pricing life insurance products.
ISSN:2227-9091
2227-9091
DOI:10.3390/risks12040061