Individual life insurance during epidemics

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Standard

Individual life insurance during epidemics. / Francis, Laura; Steffensen, Mogens.

I: Annals of Actuarial Science, Bind 18, 2024, s. 152–175.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Francis, L & Steffensen, M 2024, 'Individual life insurance during epidemics', Annals of Actuarial Science, bind 18, s. 152–175. https://doi.org/10.1017/S1748499523000209

APA

Francis, L., & Steffensen, M. (2024). Individual life insurance during epidemics. Annals of Actuarial Science, 18, 152–175. https://doi.org/10.1017/S1748499523000209

Vancouver

Francis L, Steffensen M. Individual life insurance during epidemics. Annals of Actuarial Science. 2024;18:152–175. https://doi.org/10.1017/S1748499523000209

Author

Francis, Laura ; Steffensen, Mogens. / Individual life insurance during epidemics. I: Annals of Actuarial Science. 2024 ; Bind 18. s. 152–175.

Bibtex

@article{02a26c50d2824fa8bb9687e14edb10fe,
title = "Individual life insurance during epidemics",
abstract = "The coronavirus pandemic has created a new awareness of epidemics, and insurance companies have been reminded to consider the risk related to infectious diseases. This paper extends the traditional multi-state models to include epidemic effects. The main idea is to specify the transition intensities in a Markov model such that the impact of contagion is explicitly present in the same way as in epidemiological models. Since we can study the Markov model with contagious effects at an individual level, we consider individual risk and reserves relating to insurance products, conforming with the standard multi-state approach in life insurance mathematics. We compare our notions with other but related notions in the literature and perform numerical illustrations. ",
keywords = "Compartment models, contagion, Kolmogorov's differential equations, Markov models, state-wise reserves",
author = "Laura Francis and Mogens Steffensen",
note = "Publisher Copyright: {\textcopyright} The Author(s), 2023. Published by Cambridge University Press on behalf of Institute and Faculty of Actuaries.",
year = "2024",
doi = "10.1017/S1748499523000209",
language = "English",
volume = "18",
pages = "152–175",
journal = "Annals of Actuarial Science",
issn = "1748-4995",
publisher = "Cambridge University Press",

}

RIS

TY - JOUR

T1 - Individual life insurance during epidemics

AU - Francis, Laura

AU - Steffensen, Mogens

N1 - Publisher Copyright: © The Author(s), 2023. Published by Cambridge University Press on behalf of Institute and Faculty of Actuaries.

PY - 2024

Y1 - 2024

N2 - The coronavirus pandemic has created a new awareness of epidemics, and insurance companies have been reminded to consider the risk related to infectious diseases. This paper extends the traditional multi-state models to include epidemic effects. The main idea is to specify the transition intensities in a Markov model such that the impact of contagion is explicitly present in the same way as in epidemiological models. Since we can study the Markov model with contagious effects at an individual level, we consider individual risk and reserves relating to insurance products, conforming with the standard multi-state approach in life insurance mathematics. We compare our notions with other but related notions in the literature and perform numerical illustrations.

AB - The coronavirus pandemic has created a new awareness of epidemics, and insurance companies have been reminded to consider the risk related to infectious diseases. This paper extends the traditional multi-state models to include epidemic effects. The main idea is to specify the transition intensities in a Markov model such that the impact of contagion is explicitly present in the same way as in epidemiological models. Since we can study the Markov model with contagious effects at an individual level, we consider individual risk and reserves relating to insurance products, conforming with the standard multi-state approach in life insurance mathematics. We compare our notions with other but related notions in the literature and perform numerical illustrations.

KW - Compartment models

KW - contagion

KW - Kolmogorov's differential equations

KW - Markov models

KW - state-wise reserves

UR - http://www.scopus.com/inward/record.url?scp=85171743373&partnerID=8YFLogxK

U2 - 10.1017/S1748499523000209

DO - 10.1017/S1748499523000209

M3 - Journal article

AN - SCOPUS:85171743373

VL - 18

SP - 152

EP - 175

JO - Annals of Actuarial Science

JF - Annals of Actuarial Science

SN - 1748-4995

ER -

ID: 369479751