კონფერენცია

∘ Nino Chamiashvili ∘
ACTUARIAL CALCULATIONS OF INSURANCE COMPANIES IN PANDEMIC CONDITIONS

Summary

Insurance is one of the financial tools of risk management, through which it is possible to avoid the financial loss caused by the risk (transfer to the insurance company). This paper will discuss the current situation in the insurance market during the pandemic, as well as provide examples that clearly show the damage caused by the spread of COVID-19 to various insurance companies around the world. In order to properly assess the risk and reduce it, it is necessary to have relevant historical data. In the current pandemic situation, the lack of historical data has hindered the modeling and prediction of future risk events. However, this paper will outline the principles by which insurance companies will be able to overcome this crisis relatively easily.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Nino Chamiashvili ∘ ACTUARIAL CALCULATIONS OF INSURANCE COMPANIES IN PANDEMIC CONDITIONS Summary Insurance is one of the financial tools of risk management, through which it is possible to avoid the financial loss caused by the risk (transfer to the insurance company). This paper will discuss the current situation in the insurance market during the pandemic, as well as provide examples that clearly show the damage caused by the spread of COVID-19 to various insurance companies around the world. In order to properly assess the risk and reduce it, it is necessary to have relevant historical data. In the current pandemic situation, the lack of historical data has hindered the modeling and prediction of future risk events. However, this paper will outline the principles by which insurance companies will be able to overcome this crisis relatively easily.