IPB Students Welcome to the Opening of the Actuary Study Program in Some Universities in Indonesia

Bogor - Based on the observation of the Indonesian insurance industry, in 2015 the insurance industry will be facing some challenges. Resources are in short supply, particularly in areas such as finance, actuarial and risk, and technology. Indonesia is still lags far behind neighbouring countries with regard to the number of actuaries in the insurance industry. However, State Universities (PTN) in Indonesia has not responded to the lack of a lot of competent actuaries. To create actuary, universities should open up many actuarial study program. However, the business is not easy since it takes a very long process. Bogor Agricultural University (IPB) is the first PTN that gave birth to actuarial study program in Indonesia, in 2016. This is “a fresh breeze” for the insurance companies to meet the needs of reliable actuarial graduates that will be needed by many companies,  while their total number  of qualified actuaries is lacking in Indonesia.

  Apparently, the step taken by IPB is followed by Universitas Indonesia (UI) in 2017 and by Gajah Mada University (UGM) and Institute of Technology Sepuluh November (ITS) in 2018.

"The opening of the new actuarial study program in other universities make the situation better, because the competition for students  want to go to IPB to take actuary study program will decline. So, they can go to  UI, UGM, or ITS to be the financial engineers of the insurance industry. That's good, it is one attempt to create more professionals in actuaries profession. So, it should be a mutual benefit because we both meet the shortcomings of actuaries in Indonesia," said Actuary student of IPB, Ardela Maharani, in IPB Gymnasium on Thursday, 8 February 2018, who welcomed the opening of the actuary study program in other universities.

 The student who was born on 27 November 1998, previously she was interested in taking health and wanted to work in the hospital. But at the end she changed her mind into the mathematics.

"I love mathematics, when I was in the High School I won the championship of the Olympic math competition in science and art. It's a competition for Indonesian schools abroad especially in Malaysia. But I do not want to take pure mathematics  it is far too hard for me. Instead I take applied  mathematics, as it is taking predictive abilities of math and employing them in solving problems. I then enrolled the  Actuarial Mathematics, “ she said.

In addition, the reason why she took the actuary study program because of its prospect, and it is the new profession in  Indonesia.

"Because of their unique combination of analytical and business skills are used to address a growing variety of financial and social challenges worldwide, the job outlook for actuaries over the next decade is higher. These skills give actuaries an unrivalled appreciation of financial risk management. Insurance companies can easily get a good supply of fresh graduates. Well, so the actuary professionals is very prospective  in Indonesia, "said Ardela who is currently in the selection process student of the year for (Mapres) of IPB's General Competence Education Program (PPKU).

In the future, after the opening of actuary study program in several universities in Indonesia, IPB is still expected to supply the  high demand for actuary human resources  in Indonesia.

"It was announced that IPB has signed an agreement with the Society of Actuaries of Indonesia (PAI). The partnership program would be part of the company's Actuarial Development Program, which aims to enhance interest and potential among university students for the actuary field, starting from undergraduate level, to produce competitive actuaries. Life insurance actuaries can work in many roles within insurance companies, reinsurers and actuarial consultancies, and even in agriculture," she said. (Wied)

Published Date : 14-Feb-2018

Resource Person : Ardela

Keyword : IPB Students Welcome to the Opening of the Actuary Study Program in Some Universities in Indonesia