Application of Epidemiological Models in Determining Insurance Premiums for Emerging Infectious Diseases

Authors

  • Sri Dewi Anugrawati Universitas Islam Negeri Alauddin Makassar
  • Rahma Sri Susanti Universitas Indonesia Timur

DOI:

https://doi.org/10.24252/msa.v9i2.24898

Keywords:

SIR Epidemiological model, infectious disease, infection, emerging, premium rate, disease modeling

Abstract

Various cases of emerging infectious diseases have caused enormous losses, not only in terms of economic losses but also in terms of a significant number of casualties. The increasing number of deaths due to new diseases has prompted experts to find ways to prevent and treat them. This certainly has an impact on the health insurance sector, which will inevitably be affected by an increase in health care claims and even deaths. Therefore, it is very important to consider various aspects in calculating reasonable premiums for health insurance. In this study, premiums are determined based on the SIR compartment model with the main formula for determining the transmission rate (rate of infection) by assuming a constant mortality and recovery rate. Based on data on new cases of Covid-19 in Indonesia in the second quarter of 2020, it was found that premiums increased in line with the increase in the number of death benefits and patient care costs offered by emerging infection insurance products.

Author Biography

Sri Dewi Anugrawati, Universitas Islam Negeri Alauddin Makassar

Program Studi Matematika

References

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Published

2021-12-28

How to Cite

[1]
S. D. Anugrawati and R. S. Susanti, “Application of Epidemiological Models in Determining Insurance Premiums for Emerging Infectious Diseases”, MSA, vol. 9, no. 2, pp. 51–58, Dec. 2021.

Issue

Vol. 9 No. 2 (2021): VOLUME 9 NOMOR 2 TAHUN 2021

Section

Artikel

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