The reinsurance industry is at the forefront of conversations to create a forward-looking solution for pandemic risk in conjunction with policyholders, insurance markets and key policymakers, and Guy Carpenter is fortunate to be able to collaborate with affiliate Oliver Wyman on these efforts.
Welcome to the second installment of the Oliver Wyman Pandemic Navigator Insight Series. The first installment of the series introduced the Oliver Wyman COVID-19 Pandemic Navigator, the most comprehensive toolkit in existence for connecting sophisticated epidemiological modeling with detailed impact on the earnings and capital of businesses. This toolkit is being used by governments, healthcare organizations, businesses, and financial services firms across the world to help make decisions and plan around the coronavirus crisis.
In this, the second installment, Oliver Wyman discusses the application of the toolkit in the sphere of policymakers, who will have to quickly articulate and manage a national risk appetite in terms of health, economy, privacy, and lifestyle. This second article offers guidance for policymakers that have been tasked with steering the ship through these uncertain waters.
In particular, the report looks at how a number of key factors (testing and tracing, immunity, seasonality and partitioning strategies) will influence the evolution of the crisis and puts forward a decision-making framework which integrates both healthcare and economic outcomes.
Having bought some necessary time, policymakers are now faced with the following question: What is the revised set of policy measures that can keep the growth in COVID-19 cases under control while inflicting as little further damage as possible on the economy and broader society?
Contributors to this report include Oliver Wyman Partners Ugur Koyluoglu, Vice Chairman, Financial Services Americas, Helen Leis, Health and Life Sciences and Barrie Wilkinson, Co-Lead of Digital Transformation EMEA, Digital.