Following the fast development of actuarial science discipline in Indonesia, the quantity and quality of actuarial research are growing. Many pieces of research have been conducted to support the need for good risk management in the financial sectors in Indonesia. Tons of initiatives has been also done to boost the number and quality of actuaries in Indonesia. In the near future, we expect the number of actuaries will still increase, to fill the lack of quantitative risk management practitioners in the country.
The minisymposium on actuarial science gives a room for everybody across sectors to discuss current issues in the development of actuarial science, as a discipline or as a profession in Indonesia. It brings together academics, regulators, industrial professionals, and students to discuss current issues in actuarial science in Indonesia. It fills the parallel sessions on the second and third days of the 8th SEAMS-UGM Conference 2019.
Dilemma on social insurance in Indonesia.
To date, Indonesia has several social insurance programs including agricultural insurance, fisherman insurance, health insurance, social pension plan, old-age benefits, employment injury benefits, etc. In its development, these social insurance programs still hold a variety of problems, such as the lack of participation, adverse selection indications, until the program sustainability issues are threatened. This session will try to uncover some actuarial aspects from the problems in the development of social insurance programs in Indonesia. We also try to discuss possible solutions that can be developed afterward.
Will robots replace actuarial jobs?
The landscape of data analytics is fast changing. The insurance industry is facing unprecedented challenge and opportunities in the digital age. Disruptive technologies have brought new opportunities for innovative business and will drive to extinction companies who fail to adapt. While the industry needs to integrate classical theory with new technologies, academia provides a fertile ground for interdisciplinary innovations.
Beyond UU No. 40 2014: the actuary in general insurance.
Law number 40 of 2014 mandates all insurance companies, including general insurance, to have company actuaries. In fact, there are still many general insurance companies that do not have an appointed actuary. In the next few years, these companies are expected to have their own actuaries. However, further than just fulfilling the mandate of the Law, there are crucial things that need to be built for actuarial development in general insurance. What is the role of actuaries in maintaining the stability of business in general insurance? What areas of work do actuaries have to do in general insurance? How can university and industry research collaboration be built on general insurance? These are some of the many questions that will be answered in this session.