Loss of earning capacity in Denmark -- an actuarial perspective

TL;DR

This paper discusses the complexities of assessing and managing loss of earning capacity insurance risks in Denmark, emphasizing the role of actuaries in developing innovative, data-driven solutions amidst public benefits and claim processes.

Contribution

It highlights the unique challenges in Denmark's insurance landscape and advocates for actuaries to lead the development of equitable risk mitigation strategies.

Findings

Identification of key risk assessment challenges in Denmark

Proposal of data-driven approaches for risk mitigation

Emphasis on actuarial expertise in societal well-being

Abstract

We describe challenges and opportunities related to risk assessment and mitigation for loss of earning capacity insurance with a special focus on Denmark. The presence of public benefits, claim settlement processes, and prevention initiatives introduces significant intricacy to the risk landscape. Accommodating this requires the development of innovative approaches from researchers and practitioners alike. Actuaries are uniquely positioned to lead the way, leveraging their domain knowledge and mathematical-statistical expertise to develop equitable, data-driven solutions that mitigate risk and enhance societal well-being.