Actuaries:

Long and
Winding Road Dr. Handayani, S.Si, MM, MHP, HIA, FLMI, AFSI, AAK, AAIJ, AMRP, FSAI
Ketua Komisi Ujian dan Kurikulum Persatuan Aktuaris Indonesia
‘Penemu’ komet Halley
‘Penemu’ komet Halley?

Dalam risalahnya yang berjudul Astronomiae

Cometicae Synopsis (Synopsis on Cometary
Astronomy), Sir Edmund Halley memprediksi
(dengan tingkat presisi yang mengagumkan)
bahwa rata-rata setiap 76 tahun sekali Komet
Halley akan mengorbit dekat sekali dengan
bumi sehingga kehadirannya dapat dilihat
dengan mata telanjang
Halley’s Mortality Table
Pada tahun 1693 Sir Edmund Halley melakukan penelitian atas data-
data demografi milik kota Breslaw. Halley menuangkan hasil
penelitiannya dalam bukunya yang berjudul An Estimate of the Degrees
of the Mortality of Mankind, Drawn from Curious Tables of the Births
and Funerals at the City of Breslaw; with an Attempt to Ascertain the
Price of Annuities upon Lives.
Halley bukan hanya berhasil membangun tabel mortalita yang akurat,
namun sekaligus meletakkan dasar-dasar ilmu aktuaria untuk
perhitungan premi asuransi jiwa. Perusahaan yang pertama kali
menggunakan maha karya Halley adalah The Equitable, sebuah
perusahaan asuransi jiwa yang berdiri pada tahun 1765 di Inggris.
What is an
Actuary ?

Actuaries are highly qualified

professionals who analyze the
financial impact of risk for
organizations like insurers;
pensions fund managers, and
more. Governed by rigorous
standards of practice, they apply
their mathematical expertise to
forecast and minimize financial
uncertainty.
Aktuaris

Aktuaris adalah seorang ahli yang

dapat mengaplikasikan teori
matematika, probabilita dan
statistika, serta ilmu ekonomi dan
keuangan untuk menyelesaikan
persoalan-persoalan aktual pada
sebuah bisnis khususnya yang
berhubungan dengan risiko.
Aktuaris dan Ajun Aktuaris

Tahun FSAI ASAI CNLA

2017 255 259 52
2018 281 290 66
2019 326 296 68
2020 341 305 80
2021 377 314 83
2022 391
Kebutuhan akan Aktuaris

“hingga saat ini (2019), jumlah

aktuaris terdaftar di Indonesia baru
sekitar 51 persen dari kebutuhan.
Jumlah tersebut dinilai masih
kurang karena kebutuhannya
cukup tinggi.”
Anggar B. Nuraini – Deputi
Komisioner Pengawas Industri
Keuangan Non Bank
What is an actuary?

Actuaries are problem solvers and strategic thinkers, who use their mathematical skills to
help measure the probability and risk of future events. They use these skills to predict the
financial impact of these events on a business and their clients.
The Accountant
2016 ‧ Action/Thriller ‧ 2h 8m, IMDb 7.3/10

Ben Affleck,
Anna Kendrick,
J. K. Simmons
The Ice Road
2021 ‧ Action/Thriller ‧ 1h 43m, IMDb 5.6/10

Liam Neeson,
Amber Midthunter,
Benjamin Walker,
Laurence Fishburne
Aktuaris menurut regulasi Indonesia

PMK No. 227/PMK.01/2020

Pasal 1 Ayat 3

Aktuaris Publik Kantor Konsultan Aktuaria

Pasal 1 Ayat 6

Aktuaris Pasal 2 Ayat 2 jo. Pasal 16

Pasal 1 Ayat 1 Membantu Membantu

Aktuaris Beregister
Profesi Aktuaris Perusahaan Asuransi dan
Pasal 1 Ayat 2 Reasuransi sebagai
Appointed Actuary

Pasal 17 Ayat 2 UU No.40/2014

Ajun Aktuaris Ajun Aktuaris Beregister
Pasal 1 Ayat 4 Pasal 1 Ayat 5

Sources: Alvin Ayodhia Siregar & Associates

Why should you
become an actuary?

Being an actuary means having the

opportunity to apply highly valued
mathematical skills and expertise in a
diverse, exciting and challenging career that
really makes a difference. Your hard work is
rewarded with a highly competitive salary
and a good work/life balance in comparison
to similarly paid professions in the financial
services, such as investment banking.
What does an
actuary do?
Actuaries design and develop ways in which to manage risk. This requires a combination of strong
analytical skills, business knowledge, and understanding of human behavior to manage the complex
risks facing our society.

Actuaries:

✓ Evaluate the likelihood of future events;

✓ Design creative ways to reduce the likelihood of undesirable events;
✓ Decrease the impact of undesirable events that do occur;
✓ Assist in the scientific analysis and quantification of risks;
✓ Measure, manage, and mitigate risks;
✓ Establish premiums, policy and claim liabilities, and appropriate capital levels;
✓ Assess financial security systems;
✓ Evaluate pension plan liabilities; and
✓ Determine the level of contributions required to finance pension, health care, and social insurance
programs.
 Assets Liabilities

Solvency Profitability

Risk Return

Managing
 Become Specialist
Government Actuary Product Actuary Forensic Actuary

Valuation Actuary Risk Actuary

Actuary

Investment Actuary
Consulting Actuary

Healthcare Actuary
 Kurikulum Baru

Dasar-Dasar Utama Aplikasi Teknis Profesionalisme Aplikasi Bisnis

Menguji kandidat akan Menguji kandidat Profesionalisme Pengujian terakhir

kemampuan dasar terhadap ilmu aktuaria merupakan materi yang sebelum menjadi
mengenai Teori Peluang, secara spesifik, penting, oleh karena itu Aktuaris penuh (FSAI).
Matematika Keuangan, termasuk LTAM akan diberikan pada Pada bagian ini
dan juga Akuntansi (Matematika Aktuaria), kandidat sebelum diharapkan kandidat
serta Ekonomi sebelum STAM (Teori Risiko), mencapai kualifikasi memiliki pengetahuan
menuju kepada serta estimasi dan ASAI untuk memastikan praktis yang dapat
Matematika Aktuaria. ekonometri (Metode bahwa ajun aktuaris diaplikasikan kepada
Statistik). juga memiliki integritas dunia bisnis, termasuk
01 dan bertindak secara Analisa Data, Investasi,
profesional sebagai ERM dan Spesialiasi,
03 anggota PAI. dimana praktik bisnis
dan regulasi pendukung
yang terkait akan
04
diujikan.

02
 Kurikulum Baru
Silabus pendidikan yang baru, menitikberatkan pada teknik dan permodelan
yang dapat diaplikasikan pada area-area praktek aktuaria modern.

Dengan meningkatnya kebutuhan akan pentingnya komunikasi sebagai kemampuan dasar seorang
aktuaris, maka materi komunikasi (tertulis dan lisan) akan ditingkatkan

4 Subjects.
FSAI
3 Subjects
ASAI
Aplikasi
Bisnis
3 Subjects
Profesionalisme

4 Subjects. IAA merilis revisi

Aplikasi
Teknis Silabus Pendidikan
Dasar-Dasar Aktuaris pada 2017
Utama
 ✓ Economic and Financial Market ✓ Actuarial Management
✓ Financial Mathematics ✓ Business Communication
✓ Probability and Statistics ✓ Data Analytics
✓ Accounting and Corporate Finance ✓ Investment
✓ Statistical Method ✓ Enterprise Risk Management
✓ Risk Theory ✓ Specialist Track:
✓ Actuarial Mathematics Life, General, Health, Retirement
✓ Professionalism

ASAI FSAI
Associate of the Society of Actuaries of Indonesia Fellow of the Society of Actuaries of Indonesia

Exam Subjects
 Elements Topics Assessment Credential
Economics and Financial Market E-Learning
Financial Mathematics Exam
Core Fundamental
Probability and Statistics Exam
Accounting and Corporate Finance Exam
Statistical Method Exam ASAI
Technical Application Risk Theory Exam
Actuarial Mathematics Exam
Professionalism Seminar
Professionalism and
Actuarial Management Exam
Management
Communication Seminar
Data Analytics Computer Based
Investments Exam
Enterprise Risk Management Exam
Specialist Tracks: FSAI
Business Applications - Life
- General Exam
- Health
- Pension
Financial Mathematics
Term Structure of Interest Rate
1 Duration, Convexity, and Immunization.

Derivative Products: Introduction

2 Forward, Future, Option.

Portfolio Construction
3 Capital Asset Pricing Model.
Accounting and Corporate Finance
1 Financial Reporting and Taxation

2 Securities and Corporate Finance

Corporate Financing
3

Structure of Financial Systems

4

Financial Markets
5
Probability and Statistics
1 General Probability

2 Univariate Random Variables

3 Multivariate Random Variables

4 Statistical Inference
Statistical Method
Survival Analysis
1 Kaplan-Meier, Nelson-Aalen, and MLE.

2 Multiple State and Markov Models

Regression Analysis
3 Multiple Linear Models.

4 Generalized Linear Models

5 Time Series Analysis

Risk Theory
Frequency and Severity Models
1 Deductibles, Limits, and Coinsurance.

Aggregate Models
2 Compound Risk Models and Distribution.

Risk Measures
3 Value at Risk, Tail-VaR.

Credibility Theory
4 Classical, Bayesian, Buhlmann-Straub.

Simulations
5 Monte Carlo and Bootstrap.
Actuarial Mathematics
1 Survival Models

2 Insurance Benefits

3 Life Annuities

4 Premium and Reserve

5 Multiple State Models

Investment
Financial Economics
1 Black-Scholes, Option Greek, Hedging.

Asset Valuation
2 Efficient Market, Arbitrage Theory, CAPM.

Portfolio Management
3 Optimum Portfolio, Efficient Frontier.

Investment Strategy
4 Asset/Liability Modelling.

5 Investment Regulations
Data Analytics
Problem Identification and Data
1 Preparation

Exploratory Data Analysis and

2 Data Visualization

3 Model Selection and Validation

Communication of Results and

4 Conclusions
 Tingkat Kelulusan
November 2019

Matematika Probabilita dan

Ekonomi Akuntnasi
Keuangan Statistika

A10 A20 A30 A40

Hi : 100 Hi : 96.67 Hi : 97.50 Hi : 90

Lo : 6.67 Lo : 10 Lo : 20 Lo : 10

Me : 55.76 Me : 54.37 Me : 68.99 Me : 53.62

Sd : 25.07 Sd : 17.67 Sd : 18.47 Sd : 19.34

Ca : 249 Ca : 157 Ca : 180 Ca : 106

39% 24% 61% 27%

 Tingkat Kelulusan
November 2019

Metode Statistika Matematika Aktuaria Teori Risiko Investasi

A50 A60 A70 F10

Hi : 100 Hi : 93.33 Hi : 93.33 Hi : 90

Lo : 16.67 Lo : 6.67 Lo : 16.67 Lo : 23.33

Me : 48.89 Me : 43.88 Me : 63.28 Me : 59.07

Sd : 19.67 Sd : 21.46 Sd : 18.28 Sd : 15.28

Ca : 54 Ca : 92 Ca : 65 Ca : 75

12% 15% 60% 31%

 Tingkat Kelulusan
November 2019

Asuransi Umum Asuransi Kesehatan

F33 F34
Hi : 90 Hi : 90

Lo : 46.67 Lo : 43.33

Me : 73.79 Me : 61.91

Sd : 73.79 Sd : 15.14

Ca : 11.22 Ca : 7

79% 29%
Distribusi soal A60
November 2019

TABEL ANALISIS TINGKAT KESULITAN TABEL ANALISIS OPTION PENGECOH ( DISTRAKTOR)

Jumlah Soal : 30 I.T.K : Indeks Tingkat Kesukaran Jumlah Soal : 30

Jumlah Data : 92 K.I.T.K : Kriteria Interpretasi Tingkat Kesukaran Jumlah Data : 92
: Kurang dari 0.25 Sulit
K.A : Kelas Atas : 0.25 - 0.75 Sedang
Keterangan : Option Jawaban harus direvisi jika persentasi testee yang menjawab option tersebut < 5 %
K.B : Kelas Bawah : lebih dari 0.75 Mudah

NO SOAL KUNCI A B C D E K.A K.B I.T.K K.I.T.K

NO SOAL KUNCI A B C D E
1 B 4 22 7 9 6 19 3 0.46 Sedang
2 B 7 22 8 5 6 19 3 0.46 Sedang 1 B 5.43 41.3 18.48 18.48 15.22
3 C 5 2 17 16 8 14 3 0.35 Sedang 2 B 15.22 48.91 13.04 11.96 9.78
4 B 7 21 4 9 7 15 6 0.44 Sedang 3 C 16.3 4.35 (Revisi) 36.96 26.09 16.3
5 A 17 7 5 4 15 17 0 0.35 Sedang 4 B 13.04 39.13 13.04 18.48 15.22
6 D 1 4 5 32 6 19 13 0.67 Sedang 5 A 27.17 11.96 7.61 18.48 32.61
7 A 26 9 4 7 2 20 6 0.54 Sedang 6 D 8.7 7.61 9.78 64.13 9.78
8 A 13 11 10 10 4 10 3 0.27 Sedang 7 A 46.74 19.57 11.96 17.39 4.35 (Revisi)
9 E 3 10 7 19 9 8 1 0.19 Sulit 8 A 21.74 22.83 20.65 19.57 13.04
10 B 3 28 9 7 1 20 8 0.58 Sedang
9 E 7.61 31.52 15.22 30.43 15.22
11 E 10 6 6 10 16 12 4 0.33 Sedang
10 B 15.22 47.83 13.04 18.48 5.43
12 A 21 11 1 9 6 16 5 0.44 Sedang
11 E 25 11.96 8.7 17.39 35.87
13 E 7 9 8 6 18 17 1 0.38 Sedang
12 A 36.96 26.09 1.09 (Revisi) 23.91 11.96
14 D 11 6 2 27 2 22 5 0.56 Sedang
13 E 16.3 17.39 20.65 8.7 35.87
15 C 6 5 29 4 4 23 6 0.60 Sedang
16 C 8 11 11 7 11 7 4 0.23 Sulit 14 D 19.57 9.78 2.17 (Revisi) 65.22 3.26 (Revisi)
17 E 6 13 7 5 17 15 2 0.35 Sedang 15 C 9.78 7.61 66.3 5.43 10.87
18 B 3 28 4 6 7 23 5 0.58 Sedang 16 C 15.22 19.57 22.83 18.48 23.91
19 A 27 8 12 1 0 22 5 0.56 Sedang 17 E 15.22 27.17 14.13 15.22 28.26
20 B 5 26 3 9 5 17 9 0.54 Sedang 18 B 4.35 (Revisi) 59.78 10.87 10.87 14.13
21 A 20 15 2 4 7 18 2 0.42 Sedang 19 A 54.35 16.3 18.48 6.52 4.35 (Revisi)
22 D 2 9 7 27 3 20 7 0.56 Sedang 20 B 13.04 47.83 10.87 19.57 8.7
23 B 3 28 4 9 4 21 7 0.58 Sedang 21 A 41.3 31.52 6.52 8.7 11.96
24 E 11 7 1 6 23 20 3 0.48 Sedang 22 D 4.35 (Revisi) 17.39 16.3 53.26 7.61
25 D 0 4 8 31 5 24 7 0.65 Sedang
23 B 4.35 (Revisi) 58.7 5.43 20.65 10.87
26 C 8 14 20 0 6 15 5 0.42 Sedang
24 E 23.91 11.96 3.26 (Revisi) 15.22 44.57
27 E 4 13 5 10 16 13 3 0.33 Sedang
25 D 3.26 (Revisi) 10.87 11.96 61.96 10.87
28 A 21 7 9 5 6 20 1 0.44 Sedang
26 C 21.74 28.26 35.87 2.17 (Revisi) 11.96
29 B 1 24 11 8 4 17 7 0.50 Sedang
30 A 25 5 11 2 5 20 5 0.52 Sedang
27 E 5.43 25 17.39 16.3 35.87
28 A 40.22 11.96 17.39 15.22 14.13
Jumlah Soal Sulit : 2 29 B 4.35 (Revisi) 46.74 23.91 14.13 9.78
Jumlah Soal Sedang : 28 30 A 55.43 8.7 14.13 10.87 10.87
Jumlah Soal Mudah : 0
SOA Exam Passing Rate
 How long does it take?
For most people, it takes between 7 and 10 years to become a fully
qualified actuary. Aspiring actuaries in Canada and the U.S. typically
spend between 7 and 8 years passing all ten actuarial exams.
A fundamental concept introduced by IFRS 17 is
the contractual service margin (CSM). This
represents the unearned profit that an entity
expects to earn as it provides services.
Nobel Laureate in Economics 2020
Paul Robert Milgrom graduated from the University of
Michigan in 1970 with an AB in mathematics. He
worked as an actuary for several years in San
Francisco at the Metropolitan Insurance Company and
then at the Nelson and Warren consultancy in
Columbus, Ohio. Milgrom became a Fellow of the
Society of Actuaries in 1974. In 1975, Milgrom enrolled
for graduate studies at Stanford University and earned
an MS in statistics in 1978 and a PhD in business in
1979

“for improvements to auction theory and inventions of new

auction formats”

with Robert Butler Wilson

THANK YOU