Akademik Veri Yönetim Sistemi
26th International Congress on Insurance: Mathematics and Economics, Edinburgh, İngiltere, 4 - 07 Temmuz 2023, ss.144
The Covid-19 pandemic has changed the world, affecting almost
every industry, including the insurance sector. Since health and life products
considering epidemic risk will gain prominence in the future, insurance
companies need to consider pandemic dynamics on their products to minimize the
effect of the epidemic. From a life insurance perspective, traditional
actuarial models and mortality tables lack the flexibility to model infectious
diseases which are significantly different from natural cases of death. In this
study, the implementation of epidemiological models on the valuation of life
insurance premiums is considered. Covid-19 cases are utilized to illustrate the
efficiency of a modified risk scheme based on an epidemic cause. Subsequently,
the reserve of some life insurance products is examined. The expected outcome
of the study is to determine how costly the pandemic risk is on life insurance.