ASHK Health CommitteePandemic Survey 2020

	Low	Medium	High
Insurance risks (e.g. mortality / morbidity)	Insurance risks (e.g. mortality / morbidity) Low	Insurance risks (e.g. mortality / morbidity) Medium	Insurance risks (e.g. mortality / morbidity) High
Market risks	Market risks Low	Market risks Medium	Market risks High
Operational risk (including business continuity, infrustructures, etc)	Operational risk (including business continuity, infrustructures, etc) Low	Operational risk (including business continuity, infrustructures, etc) Medium	Operational risk (including business continuity, infrustructures, etc) High
Sales risks (volatility on business targets, distributions management, customer engagements, etc)	Sales risks (volatility on business targets, distributions management, customer engagements, etc) Low	Sales risks (volatility on business targets, distributions management, customer engagements, etc) Medium	Sales risks (volatility on business targets, distributions management, customer engagements, etc) High
Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc)	Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) Low	Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) Medium	Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) High
Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim)	Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) Low	Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) Medium	Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) High
Counterparty risks	Counterparty risks Low	Counterparty risks Medium	Counterparty risks High

Low

Medium

High

Insurance risks (e.g. mortality / morbidity)

Insurance risks (e.g. mortality / morbidity) Low

Insurance risks (e.g. mortality / morbidity) Medium

Insurance risks (e.g. mortality / morbidity) High

Market risks

Market risks Low

Market risks Medium

Market risks High

Operational risk (including business continuity, infrustructures, etc)

Operational risk (including business continuity, infrustructures, etc) Low

Operational risk (including business continuity, infrustructures, etc) Medium

Operational risk (including business continuity, infrustructures, etc) High

Sales risks (volatility on business targets, distributions management, customer engagements, etc)

Sales risks (volatility on business targets, distributions management, customer engagements, etc) Low

Sales risks (volatility on business targets, distributions management, customer engagements, etc) Medium

Sales risks (volatility on business targets, distributions management, customer engagements, etc) High

Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc)

Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) Low

Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) Medium

Regulatory risk (e.g. solvency and capital adequacy, reserving and risk modelling, etc) High

Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim)

Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) Low

Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) Medium

Policyholder behavioural risks (lapse / surrender, shift in demand, propensity to claim) High

Counterparty risks

Counterparty risks Low

Counterparty risks Medium

Counterparty risks High

	Low	Medium	High
Individual Life	Individual Life Low	Individual Life Medium	Individual Life High
Individual PA	Individual PA Low	Individual PA Medium	Individual PA High
Individual Disability (lump sum)	Individual Disability (lump sum) Low	Individual Disability (lump sum) Medium	Individual Disability (lump sum) High
Individual Disability (income protection)	Individual Disability (income protection) Low	Individual Disability (income protection) Medium	Individual Disability (income protection) High
Individual Critical Illness	Individual Critical Illness Low	Individual Critical Illness Medium	Individual Critical Illness High
Individual Medical (inpatient and outpatient)	Individual Medical (inpatient and outpatient) Low	Individual Medical (inpatient and outpatient) Medium	Individual Medical (inpatient and outpatient) High
Individual Hospital Cash	Individual Hospital Cash Low	Individual Hospital Cash Medium	Individual Hospital Cash High
Group life	Group life Low	Group life Medium	Group life High
Group PA	Group PA Low	Group PA Medium	Group PA High
Group Disability (lump sum)	Group Disability (lump sum) Low	Group Disability (lump sum) Medium	Group Disability (lump sum) High
Group Disability (income protection)	Group Disability (income protection) Low	Group Disability (income protection) Medium	Group Disability (income protection) High
Group Critical Illness	Group Critical Illness Low	Group Critical Illness Medium	Group Critical Illness High
Group Medical (inpatient and outpatient)	Group Medical (inpatient and outpatient) Low	Group Medical (inpatient and outpatient) Medium	Group Medical (inpatient and outpatient) High

Low

Medium

High

Individual Life

Individual Life Low

Individual Life Medium

Individual Life High

Individual PA

Individual PA Low

Individual PA Medium

Individual PA High

Individual Disability (lump sum)

Individual Disability (lump sum) Low

Individual Disability (lump sum) Medium

Individual Disability (lump sum) High

Individual Disability (income protection)

Individual Disability (income protection) Low

Individual Disability (income protection) Medium

Individual Disability (income protection) High

Individual Critical Illness

Individual Critical Illness Low

Individual Critical Illness Medium

Individual Critical Illness High

Individual Medical (inpatient and outpatient)

Individual Medical (inpatient and outpatient) Low

Individual Medical (inpatient and outpatient) Medium

Individual Medical (inpatient and outpatient) High

Individual Hospital Cash

Individual Hospital Cash Low

Individual Hospital Cash Medium

Individual Hospital Cash High

Group life

Group life Low

Group life Medium

Group life High

Group PA

Group PA Low

Group PA Medium

Group PA High

Group Disability (lump sum)

Group Disability (lump sum) Low

Group Disability (lump sum) Medium

Group Disability (lump sum) High

Group Disability (income protection)

Group Disability (income protection) Low

Group Disability (income protection) Medium

Group Disability (income protection) High

Group Critical Illness

Group Critical Illness Low

Group Critical Illness Medium

Group Critical Illness High

Group Medical (inpatient and outpatient)

Group Medical (inpatient and outpatient) Low

Group Medical (inpatient and outpatient) Medium

Group Medical (inpatient and outpatient) High

	Low	Medium	High
Shock lapse / surrender	Shock lapse / surrender Low	Shock lapse / surrender Medium	Shock lapse / surrender High
Anti-selective lapsation	Anti-selective lapsation Low	Anti-selective lapsation Medium	Anti-selective lapsation High
Potential non-disclosures	Potential non-disclosures Low	Potential non-disclosures Medium	Potential non-disclosures High
Potential increase in fradulent claims activities	Potential increase in fradulent claims activities Low	Potential increase in fradulent claims activities Medium	Potential increase in fradulent claims activities High
Shift in product demands (e.g. savings to protections)	Shift in product demands (e.g. savings to protections) Low	Shift in product demands (e.g. savings to protections) Medium	Shift in product demands (e.g. savings to protections) High
Product mismatch	Product mismatch Low	Product mismatch Medium	Product mismatch High

Low

Medium

High

Shock lapse / surrender

Shock lapse / surrender Low

Shock lapse / surrender Medium

Shock lapse / surrender High

Anti-selective lapsation

Anti-selective lapsation Low

Anti-selective lapsation Medium

Anti-selective lapsation High

Potential non-disclosures

Potential non-disclosures Low

Potential non-disclosures Medium

Potential non-disclosures High

Potential increase in fradulent claims activities

Potential increase in fradulent claims activities Low

Potential increase in fradulent claims activities Medium

Potential increase in fradulent claims activities High

Shift in product demands (e.g. savings to protections)

Shift in product demands (e.g. savings to protections) Low

Shift in product demands (e.g. savings to protections) Medium

Shift in product demands (e.g. savings to protections) High

Product mismatch

Product mismatch Low

Product mismatch Medium

Product mismatch High

	Low	Medium	High
Sales & Distributions	Sales & Distributions Low	Sales & Distributions Medium	Sales & Distributions High
Underwriting	Underwriting Low	Underwriting Medium	Underwriting High
Policy administration & customer service	Policy administration & customer service Low	Policy administration & customer service Medium	Policy administration & customer service High
Claims processing & management	Claims processing & management Low	Claims processing & management Medium	Claims processing & management High
Product (& pricing) & Marketing	Product (& pricing) & Marketing Low	Product (& pricing) & Marketing Medium	Product (& pricing) & Marketing High
Finance & Actuarials	Finance & Actuarials Low	Finance & Actuarials Medium	Finance & Actuarials High
Asset Liability Management	Asset Liability Management Low	Asset Liability Management Medium	Asset Liability Management High
Risk Management & Legal	Risk Management & Legal Low	Risk Management & Legal Medium	Risk Management & Legal High
IT	IT Low	IT Medium	IT High

Low

Medium

High

Sales & Distributions

Sales & Distributions Low

Sales & Distributions Medium

Sales & Distributions High

Underwriting

Underwriting Low

Underwriting Medium

Underwriting High

Policy administration & customer service

Policy administration & customer service Low

Policy administration & customer service Medium

Policy administration & customer service High

Claims processing & management

Claims processing & management Low

Claims processing & management Medium

Claims processing & management High

Product (& pricing) & Marketing

Product (& pricing) & Marketing Low

Product (& pricing) & Marketing Medium

Product (& pricing) & Marketing High

Finance & Actuarials

Finance & Actuarials Low

Finance & Actuarials Medium

Finance & Actuarials High

Asset Liability Management

Asset Liability Management Low

Asset Liability Management Medium

Asset Liability Management High

Risk Management & Legal

Risk Management & Legal Low

Risk Management & Legal Medium

Risk Management & Legal High

IT Low

IT Medium

IT High

Question Title

* 5. Which of the following IT / system developments would materially alleviate the impact of a Pandemic event in your organisation? (Please include all that is relevant, or select already in existence)

Non-face-to-face sales / marketing / illustration platform

Automatic underwriting engine

Online application, and policy issuance portal

Chatbot which supports policy enquiries and customer services

Digital claims lodgement engine

Other (please specify)

Risk Management:

Question Title

* 6. How do you currently manage the risk of a Pandemic in your organisation associated with the below exposures:
(Please select where relevant)

	Reserving via risk margin	Reinsurance	Financial Instruments	BCP	IT / infrastructures	Rate Adjustability	Policy T&C
Insurance Risk	Insurance Risk Reserving via risk margin	Insurance Risk Reinsurance	Insurance Risk Financial Instruments	Insurance Risk BCP	Insurance Risk IT / infrastructures	Insurance Risk Rate Adjustability	Insurance Risk Policy T&C
Market Risk	Market Risk Reserving via risk margin	Market Risk Reinsurance	Market Risk Financial Instruments	Market Risk BCP	Market Risk IT / infrastructures	Market Risk Rate Adjustability	Market Risk Policy T&C
Operational Risk	Operational Risk Reserving via risk margin	Operational Risk Reinsurance	Operational Risk Financial Instruments	Operational Risk BCP	Operational Risk IT / infrastructures	Operational Risk Rate Adjustability	Operational Risk Policy T&C
Counterparty Risk	Counterparty Risk Reserving via risk margin	Counterparty Risk Reinsurance	Counterparty Risk Financial Instruments	Counterparty Risk BCP	Counterparty Risk IT / infrastructures	Counterparty Risk Rate Adjustability	Counterparty Risk Policy T&C
Sales Risk	Sales Risk Reserving via risk margin	Sales Risk Reinsurance	Sales Risk Financial Instruments	Sales Risk BCP	Sales Risk IT / infrastructures	Sales Risk Rate Adjustability	Sales Risk Policy T&C
Policyholder behavioral Risk	Policyholder behavioral Risk Reserving via risk margin	Policyholder behavioral Risk Reinsurance	Policyholder behavioral Risk Financial Instruments	Policyholder behavioral Risk BCP	Policyholder behavioral Risk IT / infrastructures	Policyholder behavioral Risk Rate Adjustability	Policyholder behavioral Risk Policy T&C

Other (please specify)

Question Title

* 7. In formulating your Risk Management policy on the risk of a Pandemic, which of the followings have you considered? (Please select all that applies)

Internal Risk Management Policy

Regulatory Reserving / Capital framework: Hong Kong / Other jurisdictions (please specify below)

Actuarial Guidance Notes:

Reinsurance Supports

External Consultant Supports

Other (please specify)

Pandemic Reserving:

Question Title

* 8. Do you currently set an explicit risk margin to address the risk of a Pandemic in your Solvency Requirement?

Yes

ASHK Health Committee

Pandemic Survey 2020

Pandemic Survey 2020

Question Title

* 1. Which of the following aspects associated with Pandemic Risk Exposures are most relevant to your organisation? Please indicate your level of risk exposures (e.g. low, medium, high)

Question Title

* 2. Which of the following line(s) of business / benefit feature(s) would you be most impacted by in the event of a Pandemic? Please indicate the degree of severity (e.g. low, medium, high, etc)

Question Title

* 3. Which of the following aspects associated with policyholders' behaviour would be of concern to you in the event of a Pandemic? Please indicate the degree of severity (e.g. low, medium, high, etc)

Question Title

* 4. Which of the following functional areas would be operationally impacted in the event of a Pandemic having considered your existing Business Continuity Plan? Please indicate your level of risk exposures (e.g. low, medium, high, etc)

Question Title

* 5. Which of the following IT / system developments would materially alleviate the impact of a Pandemic event in your organisation? (Please include all that is relevant, or select already in existence)

Question Title

* 6. How do you currently manage the risk of a Pandemic in your organisation associated with the below exposures:
(Please select where relevant)

Question Title

* 7. In formulating your Risk Management policy on the risk of a Pandemic, which of the followings have you considered? (Please select all that applies)

Question Title

* 8. Do you currently set an explicit risk margin to address the risk of a Pandemic in your Solvency Requirement?

Question Title

* 1. Which of the following aspects associated with Pandemic Risk Exposures are most relevant to your organisation? Please indicate your level of risk exposures (e.g. low, medium, high)

Question Title

* 2. Which of the following line(s) of business / benefit feature(s) would you be most impacted by in the event of a Pandemic? Please indicate the degree of severity (e.g. low, medium, high, etc)

Question Title

* 3. Which of the following aspects associated with policyholders' behaviour would be of concern to you in the event of a Pandemic? Please indicate the degree of severity (e.g. low, medium, high, etc)

Question Title

* 4. Which of the following functional areas would be operationally impacted in the event of a Pandemic having considered your existing Business Continuity Plan? Please indicate your level of risk exposures (e.g. low, medium, high, etc)

Question Title

* 5. Which of the following IT / system developments would materially alleviate the impact of a Pandemic event in your organisation? (Please include all that is relevant, or select already in existence)

Question Title

* 6. How do you currently manage the risk of a Pandemic in your organisation associated with the below exposures:(Please select where relevant)

Question Title

* 7. In formulating your Risk Management policy on the risk of a Pandemic, which of the followings have you considered? (Please select all that applies)

Question Title

* 8. Do you currently set an explicit risk margin to address the risk of a Pandemic in your Solvency Requirement?

* 6. How do you currently manage the risk of a Pandemic in your organisation associated with the below exposures:
(Please select where relevant)