Skip to main content
  • Book
  • Open Access
  • © 2022

Pandemics: Insurance and Social Protection

  • Freely available to all readers, this book is open access

  • The first book to focus on epidemics/pandemics from an insurance and social protection point of view

  • Helps researchers and practitioners to design distinctive insurance products for pandemics similar to Covid-19

  • Encourages collaboration between actuaries, mathematicians, virologists, lawyers and sociologists

Part of the book series: Springer Actuarial (SPACT)

Buying options

Softcover Book USD 24.99 USD 49.99
50% discount Price excludes VAT (USA)
Hardcover Book USD 24.99 USD 49.99
50% discount Price excludes VAT (USA)

Table of contents (14 chapters)

  1. Front Matter

    Pages i-xx
  2. COVID-19: A Trigger for Innovations in Insurance?

    • María del Carmen Boado-Penas, Julia Eisenberg, Şule Şahin
    Pages 1-12Open Access
  3. Epidemic Compartmental Models and Their Insurance Applications

    • Runhuan Feng, José Garrido, Longhao Jin, Sooie-Hoe Loke, Linfeng Zhang
    Pages 13-40Open Access
  4. Stochastic Mortality Models and Pandemic Shocks

    • Luca Regis, Petar Jevtić
    Pages 61-74Open Access
  5. All-Hands-On-Deck!—How International Organisations Respond to the COVID-19 Pandemic

    • María del Carmen Boado-Penas, Gustavo Demarco, Julia Eisenberg, Kristoffer Lundberg, Şule Şahin
    Pages 127-142Open Access
  6. COVID-19 and Optimal Lockdown Strategies: The Effect of New and More Virulent Strains

    • Jonathan P. Caulkins, Dieter Grass, Gustav Feichtinger, Richard F. Hartl, Peter M. Kort, Alexia Prskawetz et al.
    Pages 163-190Open Access
  7. Diagnostic Tests and Procedures During the COVID-19 Pandemic

    • Sherry A. Dunbar, Yi-Wei Tang
    Pages 191-216Open Access
  8. Pooled Testing and Its Applications in the COVID-19 Pandemic

    • Matthew Aldridge, David Ellis
    Pages 217-249Open Access
  9. Outlier Detection for Pandemic-Related Data Using Compositional Functional Data Analysis

    • Christopher Rieser, Peter Filzmoser
    Pages 251-266Open Access
  10. The Legal Challenges of Insuring Against a Pandemic

    • Rachel Hillier
    Pages 267-286Open Access
  11. An Actuary’s Opinion: How to Get Through a Pandemic

    • Frank Schiller
    Pages 287-298Open Access

About this book

This open access book collects expert contributions on actuarial modelling and related topics, from machine learning to legal aspects, and reflects on possible insurance designs during an epidemic/pandemic.

Starting by considering the impulse given by COVID-19 to the insurance industry and to actuarial research, the text covers compartment models, mortality changes during a pandemic, risk-sharing in the presence of low probability events, group testing, compositional data analysis for detecting data inconsistencies, behaviouristic aspects in fighting a pandemic, and insurers’ legal problems, amongst others.

Concluding with an essay by a practicing actuary on the applicability of the methods proposed, this interdisciplinary book is aimed at actuaries as well as readers with a background in mathematics, economics, statistics, finance, epidemiology, or sociology.


  • Epidemics
  • Risk
  • Insurance
  • Social protection
  • Actuarial modelling
  • Open Access

Editors and Affiliations

  • Department of Mathematical Sciences, University of Liverpool, Liverpool, UK

    María del Carmen Boado-Penas, Şule Şahin‬‬‬

  • FAM, TU Wien, Wien, Austria

    Julia Eisenberg

About the editors

Dr. Carmen Boado-Penas holds a Ph.D. in Actuarial Science from the University of Valencia (Spain). She has also published several articles on public pension systems and has cooperated on various projects related to pension systems at the Swedish Social Insurance Agency in Stockholm and at the Spanish Ministry of Labor and Immigration. In 2020, she received the BBVA Longevia award to support pension research. Her research interests are focused on pensions and automatic balancing mechanisms.

Dr. Julia Eisenberg is currently holding an Elise Richter fellowship, granted by FWF (Austrian Science Fund), at the Institute of Statistics and Mathematical Methods in Economics, TU Wien, Austria. She received her doctorate at the University of Cologne, Germany, in 2010 and completed her habilitation (the highest qualification issued through the process of a university examination) at the TU Wien in 2019.
Her expertise is in stochastic optimal control in complex insurance risk models. A more recent research interest is in searching for alternative pension designs during ultra-low interest rate phases.

Dr. Sule Sahin  is a lecturer in the Institute for Financial and Actuarial Mathematics, University of Liverpool. She completed her PhD at Actuarial Mathematics at Heriot-Watt University, Edinburgh in 2010 based on a PhD scholarship from Higher Education Council of Turkey.
Other than Liverpool, she held an associate professor position at Hacettepe University until September 2020. Her research interests are economic scenario generators, yield curve modelling, compensation for loss of earnings, mortality modelling, pension guarantees and prioritisation of risks in social security systems.

Bibliographic Information

  • Book Title: Pandemics: Insurance and Social Protection

  • Editors: María del Carmen Boado-Penas, Julia Eisenberg, Şule Şahin‬‬‬

  • Series Title: Springer Actuarial

  • DOI:

  • Publisher: Springer Cham

  • eBook Packages: Mathematics and Statistics, Mathematics and Statistics (R0)

  • Copyright Information: The Editor(s) (if applicable) and The Author(s) 2022

  • License: CC BY

  • Hardcover ISBN: 978-3-030-78333-4Published: 24 October 2021

  • Softcover ISBN: 978-3-030-78336-5Published: 24 October 2021

  • eBook ISBN: 978-3-030-78334-1Published: 23 October 2021

  • Series ISSN: 2523-3262

  • Series E-ISSN: 2523-3270

  • Edition Number: 1

  • Number of Pages: XX, 298

  • Number of Illustrations: 6 b/w illustrations, 45 illustrations in colour

  • Topics: Actuarial Mathematics, Mathematical Statistics, Probability Theory, Social Economy, Law and Economics

Buying options

Softcover Book USD 24.99 USD 49.99
50% discount Price excludes VAT (USA)
Hardcover Book USD 24.99 USD 49.99
50% discount Price excludes VAT (USA)