The impact of pandemic on life insureds
24 June 2020
It will take years for life insurers and reinsurers to get to grips with the behavioural changes introduced during and following the COVID-19 pandemic. Neil Parkin, chief pricing actuary at RGA South Africa used a phrase attributed to a Prussian writer to introduce his aptly-titled ‘COVID-nomics’ webinar, hosted 12 June 2020. The “fog of war” explains a dynamic in which we do not understand the extent of the threat posed by our enemies nor our capacity to combat that threat, he explained. We can create our current reality by substituting ‘pandemic’ for ‘war’ and ‘coronavirus’ for ‘enemy’.