Yogyakarta, September 10, 2024 – As part of the Student and Staff Mobility Program between the Actuarial Science Program at Universiti Teknologi Mara (UiTM) Shah Alam, Malaysia, and the Department of Mathematics, Faculty of Mathematics and Natural Sciences (FMIPA), Universitas Gadjah Mada (UGM), the UGM × UiTM International Actuarial Research Seminar was held. The event took place on Tuesday, September 10, 2024, from 8:00 AM to 12:30 PM in Meeting Room 1, Department of Mathematics, FMIPA UGM, and was also held online via the Zoom platform.
Dr. Nanang Susyanto, S.Si., M.Sc., the Head of the Department of Mathematics at UGM, expressed his appreciation for this event as an important step in strengthening international collaboration in the field of actuarial science. He emphasized that this seminar not only broadens the academic knowledge of participants but also has long-term impacts on advancing research that contributes to developing solutions for global challenges, particularly in financial resilience and risk management. This event aligns with the Sustainable Development Goals (SDGs), especially SDG 17, which focuses on partnerships to achieve the goals. Through innovative actuarial research and international collaboration, this seminar contributes to creating a more inclusive and resilient financial system, supporting sustainable economic growth, and strengthening synergies between higher education institutions on a global scale.
The seminar featured the latest research in the field of actuarial science, presented by academics and practitioners from both universities:
- Speaker 1: Dr. Nurin Haniah Asmuni (UiTM) presented “Longevity Risk Mitigation: Potential for Natural Hedging,” discussing the mitigation of longevity risk in a financial context.
- Speaker 2: Dr. Danang Teguh Qoyyimi (UGM) delivered a presentation titled “Current Issues on Mortality Aspects of Disaster Risk Financing,” highlighting the challenges and developments in mortality aspects related to disaster risk financing.
- Speaker 3: Dr. Syazreen Niza Shair (UiTM) shared research on “Assessing the Effects of Longevity Risk on Actuarial Liabilities: Evidence from Malaysian Defined Benefit Pension Plans,” focusing on the impact of longevity risk on actuarial liabilities within defined benefit pension schemes in Malaysia.
After the initial session of presentations and discussions, the event continued with a brief break before moving into more in-depth discussions in the second session:
- Speaker 4: Dr. Nanang Susyanto (UGM) presented “Bayesian Generalized Linear Models for Claim Severity in General Insurance Companies,” exploring the application of Bayesian models in estimating claim severity in general insurance companies.
- Speaker 5: Dr. Norazliani Md Lazam (UiTM) delivered research on “Mortality Analysis by the Income Group of Civil Servants in Malaysia,” examining mortality rates based on income groups among civil servants in Malaysia.
- Speaker 6: Dr. Adhitya Ronnie Effendie (UGM) concluded the session with the topic “Integrating Sharia Principles into the Fama-French Model Using Machine Learning: An Indonesian Market Perspective,” which discussed integrating Sharia principles into the Fama-French model using machine learning in the context of the Indonesian market.
This event was not merely a platform for exchanging academic knowledge and research findings in actuarial science but also an opportunity to strengthen the strategic collaboration between UGM and UiTM. With a spirit of innovation, both institutions are committed to driving breakthroughs in the financial sector, particularly in risk management and insurance. This collaboration is expected to produce visionary solutions that benefit not only the industry but also contribute significantly to sustainable economic development and global preparedness in facing future challenges.
Keywords: Actuarial, Research Collaboration, Risk Management
Author: Endang Sulastri
Editor: Fathan Rasyid Rahmadhan
Photo: Fitriana Arlyn, Lucetta A