The ORSA (Own Risk and Solvency Assessment) is a powerful tool for understanding an insurer’s exposure to risk, and to assess the potential impact of those risks on its financial position in different future scenarios. The COVID-19 pandemic has created great uncertainty for health insurers, not just in terms of claims levels and patterns, but also in terms of the delivery of healthcare, macro-economic and investment market impact, and new business volumes.

This presentation will discuss some of the key considerations for health insurers engaging in an ORSA or equivalent process and draw on experience from a number of markets to highlight key lessons for actuaries engaged in this area.