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Solutions A worldwide influenza
pandemic could have a significant impact on the global economy. It is
difficult to predict when and where the next pandemic will emerge and
how severe it could be. RMS has developed a solution that can be used to
estimate the impact of influenza pandemic on insurance portfolios.
Infectious Disease Model (IDM)
The Infectious Disease
Model is the industry’s first product focused on the probabilistic
modeling of infectious diseases. The first model released within the IDM
is the Influenza Pandemic model which covers loss and casualties from
nearly 2,000 influenza pandemic events in 31 countries worldwide.
Model Highlights
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Geographic Scope: Australia, Austria, Belgium, Canada, China,
France, Germany, Hong Kong, India, Indonesia, Ireland, Italy, Japan,
Malaysia, Netherlands, Philippines, Poland, Russia, Singapore, South
Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand,
Turkey, United Kingdom, United States, Vietnam |
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Modeled Insurance Lines: Life (Individual, Group, Credit), Health,
Workers Compensation |
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Deterministic (scenario) and Probabilistic loss analysis options |
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Pandemic scenarios vary based on virus infectiousness and lethality,
demographic impact, location of outbreak, and pandemic lifecycle.
Factors in vaccine production and efficacy as well as various
national counter-measures. |
Consulting Solutions
RMS consulting services can
also assist with quantification of potential losses and company planning
scenarios. RMS has helped insurers, reinsurers, brokers, corporations,
and government entities perform the following:
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Loss modeling for life, health, and workers compensation lines of
business |
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Evaluate pricing structures |
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Assess underwriting guidelines and risk scoring |
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Influenza pandemic risk securitization |
Business
Continuity Planning
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Ensure continuity of essential services and operations during an
extended period of high illness rates in the workforce |
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Ensure that employees do not, through their office interaction,
suffer any higher rates of infection than the general population |
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Ensure the company resumes operations rapidly and competitively as
soon as the pandemic cycle is over |
Investment Strategy
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Understand how pandemics of different characteristics will affect
different investment assets |
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Develop timeline for investment action |
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Keep abreast of timely information |
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