Katrin Zitzelsberger Epidemiologist at Munich Re
Most traditional insurance policies provide solutions for business interruptions caused by physical damage. These policies typically exclude things like communicable diseases.
With the recent impact of COVID-19, change is imminent. In the future, governments and businesses are unlikely to underestimate the effects of an epidemic or a pandemic.
However, epidemic insurance is not a commodity product. It is very complex to calculate and requires a lot of market education.
To model the frequency and severity of epidemic events, it is crucial to have good data on infectious disease outbreaks that occurred over the last decades.
Such a model was created and developed by a global provider of reinsurance, primary insurance, and insurance-related risk solutions Munich Re.
Munich RE used GIDEON’s outbreak data in their model. It improved the accuracy and depths of their underlying data and the quality of their results.
This is a brilliant development in a newly emerging insurance market. It allows insurers to close a significant coverage gap that traditional insurance doesn’t.
This is especially useful when working with data modeling – for example, to predict the probability of future outbreaks.
GIDEON maintains 23,000+ country-specific notes covering each Infectious Disease. With over 4.5 million data points added since 2008, GIDEON provides an in-depth analysis of global disease distribution.
GIDEON provides tables and graphs for over 25,000 historical outbreaks and cross-border events, as well as surveys of prevalence and seroprevalence. The data set also includes incidence and death rates per year, with parallel graphs of rates per 100,000 population.
GIDEON is curated by a team of highly regarded medical scientists who are updating the database daily.