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COVID-19 and Excess Mortality: An Actuarial Study

Author

Listed:
  • Camille Delbrouck

    (Aon Benfield, Telecomlaan 5-7, 1831 Diegem, Belgium
    These authors contributed equally to this work.)

  • Jennifer Alonso-García

    (Department of Mathematics, Faculté des Sciences, Campus de la Plaine—CP 213, Université Libre de Bruxelles, Boulevard du Triomphe ACC.2, 1050 Bruxelles, Belgium
    ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW Sydney, 223 Anzac Pde, Kensington, NSW 2033, Australia
    Netspar, Postbus 90153, 5000 LE Tilburg, The Netherlands
    These authors contributed equally to this work.)

Abstract

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.

Suggested Citation

  • Camille Delbrouck & Jennifer Alonso-García, 2024. "COVID-19 and Excess Mortality: An Actuarial Study," Risks, MDPI, vol. 12(4), pages 1-27, March.
    • Handle: RePEc:gam:jrisks:v:12:y:2024:i:4:p:61-:d:1367677
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    References listed on IDEAS

    as
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