The South African experience of the COVID pandemic exposed the anomaly of experience in the insured lives vs the South African population. We demonstrate the excess death comparison of the population vs the insured lives from both a relative and additional mortality perspective across certain variables, showcasing the analytic techniques used to derive the comparison. We interrogate the outcomes and the implications for future pandemic pricing and uncertainty. We include a comparative overview of how the South African experience differed from that of insured markets with similar insurance structures to South Africa, notably the United Kingdom and provide high level thoughts of the way forward for future pricing differentials globally.