UPH Applied Mathematics Study Program Supports the Program of 1000 Indonesia Actuaries

Socialization of Actuarial Program to High School Students

The lack of actuaries has led this profession as the most wanted career in the world. Based on the data of Indonesian Actuary Association (PAI), until mid-2017, the number of registered actuaries in Indonesia is only about 400 people. The amount is still considered less because of the high demand. Therefore both PAI and Indonesia insurance companies, is seeking to increase the number of actuaries that are currently still far from ideal. This is in line with the Financial Services Authority (OJK) program which has a target of 1000 actuaries by 2018.

In Indonesia as well as in some other developing countries, the existence of the qualified actuaries is very important in meeting the needs of the insurance industry as well as other areas such as consultants and employee benefit managers in a company.

According to the practitioner in the actuarial field, Giovani Gracianti, S.Si., S.Inf., M.Sc., M.Act.Sc., Actuarial Science Specialist, a graduate of Double Degree Program Applied Mathematics and Informatics UPH, as an actuary of many open opportunities wide in this profession

“In actuary; we learn on how to calculate and measure the value of a risk. By knowing the risks, an actuary can help provide the input to overcome those risks. With strong analytical skills, capable of being a problem solver, managing risk, coupled with good communication and computer skills, an actuary can enhance the credibility of the services provided by the company, “explains Giovani.

While from the industrial side, insurance companies need to actively work with schools and universities in developing actuarial programs as well as developing the actuary professions. The Department of Applied Mathematics at Pelita Harapan University is aware of this need and has been in charge of actuarial programs since 2005. Many graduates of this program successfully work and work as actuaries. But there are still a few students who understand this field so that enthusiasts who continue their studies in the field of mathematics are still not able to meet the needs of the industrial world.

The efforts to improve the quality of actuarial education and socialization to high school students; related to the actuarial field applying continuously to UPH Mathematics Study Program, this supports government programs in producing 1000 actuaries.

Applied Mathematics Study Program UPH has signed MoU with PT Asuransi Jiwa Manulife in cooperation of the development of actuary program at UPH. This cooperation includes expert training, internship programs, actuary seminars, promotions on the actuarial profession in schools and also the development of actuarial clubs as a student activity. It is expected that this effort will increase the interest of high school students to choose an Actuary career and deepen their Applied Mathematics study program at UPH.

Applied Mathematics Study Program UPH also collaborates with the University of Waterloo to strengthen the quality of actuarial programs in UPH, specifically towards international certification and international quality standards. Even UPH is the only private university in Indonesia that has received the VEE Applied Statistics from the Society of Actuaries (SoA), and this is considered an advantage.

Applied Math Study Program UPH has packed the 40sks of actuarial content in its curriculum. This content is equivalent to the 6 packages of the 7 exam packages that are required to obtain an Actuary Associate certificate. With this, UPH math graduates just add one exam material to intercept the Associate Actuary profession.

According to one of UPH’s Applied Mathematics graduates, Shefinna Suyanto, S.Si., FSAI Actuary at Allianz Life Indonesia, her experience during her studies in Applied Mathematics UPH has provided many knowledge and skills to be able to follow a series of tests in the actuarial field. According to him in order to be actuaries, there are stages of the exam, approximately 10 exams to be passed to obtain certificate fellowship actuary. With a certificate obtained after graduating from the Applied Mathematics UPH, there will be 1 stage left of the Actuaries Associate exam and after plunging into the world of actuary profession he/she can take the three stages of the exam to obtain Fellow Actuary certificate.

Applied Mathematics Study Program UPH prioritizes quality education by following the development of science in the field of Applied Mathematics as well as facilitates the development of student personality and character through a supportive academic atmosphere. Supported by the cooperation with the national and international institutions, as well as organizing service dedication to the community to improve the role of mathematicians in improving the welfare of the community. (rh)